HMRC Admin 20 Response
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RE: Single Premium Contribution Payment - what and where to put it on the SA form
Hi Adnas,
You will claim it under the retirment annuity section and its just the actual amount you contributed that you enter.
Thank you, -
RE: High Income Child Benefit Charge Self Assessment Query
Hi SCM00001,
That is correct, just show on the employment section.
Thank you. -
RE: Starter Rate for Savings
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RE: CGT and sale of shares - Reporting requirements without Self Assessment
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RE: Taxation on Life Insurance Surrender
Hi Cledwyn Davies,
As you have stated that the policy is a qualifying policy then no chargeable event gain arises and the income received is not taxable, irrespective of your income.
Thank you. -
RE: Does "income" for CGT as a non-resident mean "UK income" only?
Hi Sarah,
It will be UK income only as a non resident.
Thank you. -
RE: CGT reporting for overseas property sold
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RE: Transferring personal money to UK
Hi Geoff Craig,
Based on the information given, and assuming that the sales of shares, divs received etc have been returned as appropriate, and the relevant calculations for acquisition and disposal of the assets through the account have been made in sterling as per CG78310 - Foreign currency: assets acquired or sold for currency, then the actual holding of a personal foreign currency bank account would be treated as a simple debt in line with CG78321 - Foreign currency: foreign currency bank accounts - periods from 6 April 2012 and so the conversion of funds of this into sterling would not in itself give rise to a chargeable gain or loss.
Thank you.
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RE: Interest charged by HMRC owing to their delays?
Hi Sheffield Park,
I apologise for the delay in the reply to your letter.
If a Self Assessment is needed and once processed interest is charged then you can object to the interest charges once the balance the interest is charged on has been paid in full.
You can object in writing to
HMRC,
Self Assessment & PAYE,
BX9 1AS
UK
Thank you. -
RE: Tax on state pension and work pensions in the first year of retirement
Hi cipgp Pringle,
As the state pension starts part way through the tax year we will be collecting the tax over a shorter period so it would be a different amount than the actual state pension that is collected in the code.
If the source of income the code is used by is monthly pay then each month we would deduct 1/12 of the amount in the code.
For the amount in the code if you calculate 20% if you are a basic rate taxpayer and divide by 12 this will give the monthly tax paid.
If you multiply this by the months in the tax year that the code will be operated this will be the same tax if you work out the actual state pension received at 20%.
Thank you.