HMRC Admin 20 Response

Hi samwai,
If you are a UK tax resident you need to be completing self-assessment if your income is at a certain level, unless you are already doing this.
Check if you need to send a Self Assessment tax return
Tax on foreign income
You can call the NI helpline to discuss national insurance, they can advise you regarding class 3 voluntary contributions.
With a Personal tax account you can use the webchat services or call:
Number - 0300 200 3500
Overseas - +44 191 203 7010
Open - Monday to Friday: 8am to 6pm - Closed on Saturdays, Sundays and Bank Holidays.
Thank you.
 

Hi Irene,
Question “Does it mean that only if I pay £3.15 x 52 = £163.80 of voluntary Class 2 NIC to ensure that I am able to access entitlement to contributory benefits?”
The answer is yes, if you have a net profit below £6725.00 you may wish to consider paying Class 2 NICs for benefit purposes.
Thank you.
 

Hi Karen,
No you dont report this as income.
Thank you.

Hi taxdb,
As this is the 23/24 tax year, this will be self employment income to be notified to HMRC by 31/01/25 on a self assessment tax return.
Thank you.


 

Hi alfo926,
That is correct. by transferring the allowance, you could end up with an underpayment whilst your partner gets a refund.
Thank you.
 

Hi alfo926,
The pension would be automatically taxed on withdrawal and the issue of any refund depends on any continuing sources of income.
Please refer to:- Claim a tax refund when you've taken a small pension lump sum (P53)
Thank you.
 

Hi krojas,
You can provide UK bank details to have the payment sent.
If you don't have a UK bank account, you can nominate someone in the UK to receive it on your behalf.
Thank you.

Hi cm0805,
1. As it is a 2nd stocks and shares ISA, it loses the ISA exemption rules and will fall under normal taxation rules on income and capital gains tax.
2. If you have not met the 20k limit in the account that is kept open, you can still pay in up to the 20k maximum as the other account no longer qualifies under the ISA rules. any interest already received from the 2nd account also forms part of your personal savings allowance.
Thank you.

Hi Louise Spence,
They would need to submit a tax emption claim that is certified by the UAE authorites -  Double Taxation: Treaty Relief (Form DT-Individual
Thank you.

Hu Guy W,
1. You should be issuing the invoices under the partnership name.  
2. You can still have payments made into your own bank account but it may be worth considering opening a business partnership account to keep track of all business income and expenditure.
Thank you.