HMRC Admin 20 Response

Hi Chun Nok Maurice Chan,
As your gross turnover from your self employment is below the £1000.00 business income allowance, you do not nee to report this income to HMRC.  
Once you exceed this amount, you will need to register for self assessment as self employed and submit a tax return.
Thank you.
 

Hi fg,
You would convert the acquisition costs to pounds sterling, using a just and reasonable exchange rate at the time of acquistion. 
(Capital Gains Manual CG15250 - Expenditure: incidental costs of acquisition and disposal)
This would be deducted from the disposal value, as well as disposal costs, to declare the gain.  
The transfer in the middle does not affect the calculation in any way.
Thank you.
 

Hi Andy,
You would enter it in the untaxed interest box, the same box you would report bank / building society interest.
Thank you.

Hi AR,
If you qualify for and claim rent a room relief, there are no expenses that can be claimed, as the £7500 exemption includes relief.  
Your only alternative is to claim income from property on SA105 completing as appropriate, boxes 1 to 3 and 20 to 45.
Thank you.

Hi SUTXUK,
Please have a look at section 9.11 onwards, of Guidance note for residence, domicile and the remittance basis: RDR1.  
If you don't qualify then you need to complete a tax return, declaring all of your world wide income.
Thank you.

Hi Sue,
The taxable benefit should be included in the benefits section of the employment page and not on the underpayment.
The personal allowances will still show as 12570 in the calculation as this is the normal rate.
Thank you.

Hi hajmoore,
If you qualify for split year then you only report any foreign income for the UK part of the year
Residence, Domicile and Remittance Basis Manual RDRM12000 - Residence: The SRT: Split year treatment.
If you do not qualify then you will need to report all your foreign income to the UK
Tax on foreign income.  
The guidance at
RDRM12150 - Residence: The SRT: Split year treatment: Case 4: Starting to have a home in the UK only
will help you work out if split year treatment applies. 
Thank you.

 
 

Hi Chris Crocker,
This depends on the level of gain received and how much the gift aid brings you back into the lower rate band.
You may find that any gain may straddle both basic and higher - Capital Gains Tax: detailed information
Thank you.

Hi JP Fleuret,
Please see 2023 to 2024: Employer further guide to PAYE and National Insurance contributions 4.6.4 Employees going abroad with regards to the employee going abroad.
With regards to becoming self employed and the digital nomad visa, we cannot comment on this as this is outside of HMRCs remit.
If you require a more in depth discussion please contact us on 0300 200 3200.
Thank you.

 

Hi Richard Wilson,
I would suggest you contact Personal Tax on 0300 200 3300 to enquire about this as they would be the department which would issue the tax code.
Thank you.