HMRC Admin 20 Response

Hi sbradford50 Bradford,
Companies have to make a claim to carry back a trading loss, guidance on how to make a claim can be found at Work out and claim relief from Corporation Tax trading losses. 
If there is a remaining loss balance following the carry-back, it will be carried forward automatically to later accounting periods. 
HMRC cannot provide advice on how to complete or amend company accounts. If you need help or advice in relation to this, you will need to contact an accountant.
Thank you.

 

Hi John Hopkins,
HMRC guidance on the taxation of CICs is available at CTM40145 - Particular bodies: clubs: Community Interest companies. 
Grant income is subject to the normal taxation rules, and the tax treatment of grants will depend on whether they are capital or revenue in nature.
HMRC guidance on the tax treatment of grant income is available at BIM40451 - Specific receipts: grants and subsidies: introduction. 
Whether a particular receipt is taxable depends upon the facts of the case.
The tax treatment of donation income depends on the character of the income in the company’s hands. 
HMRC guidance to help you decide whether the income is a taxable receipt is available at BIM15035 - Trade profits: receipts not chargeable - source doctrine and
BIM41810 - Specific receipts: voluntary receipts: others.
Thank you.

Hi Adrien777,
HMRC will provide a view of whether we consider a particular foreign entity to be transparent or opaque in specific cases. 
Details of how to make an application can be found at:-
INTM180020 - Foreign entity classification for UK tax purposes: Considerations when using the List of Classifications of Foreign Entities for UK tax purposes
Thank you.

Hi Indre Sim,
A company resident in the UK is generally liable to corporation tax on its worldwide income.
Any trading activities that are conducted through the limited company will be within the charge to UK tax.
In respect of tax  deducted in Denmark the conditions of exemption or relief can be found in the relevant Double Taxation treaty.
Further information can be found in HMRC'S international manual.
 INTM167000 - UK residents with foreign income or gains: corporation tax
Thank you.

Hi agento,
Please refer to Paying tax on the remittance basis (Self Assessment helpsheet HS264) for 1-3. 4. you will be liable to CGT if you sell it.
You would need to obtain a valuation at the time it is passed to you so you have 'cost' price and any gain would the be the difference, as this will be a future event, no further advise can be given as legislation may change.
Thank you.

 

Hi WaiShing,
Please refer to guidance at Tax on foreign income
Thank you.

Hi Joanne,
As you are the owner of the property you will be classed as receivng the rental income.
 You would need to provide a declaration of trust if you are not the beneficial owner of any income derived from the property - this also includes any potential gain if the property is sold.
Thank you.

Hi thomas mullett,
Please refer to guidance at Tax on your UK income if you live abroad
Thank you.

Hi Parth Vashishtha,
Please refer to the following guidance:- Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you.

Hi faizovboris,
No you will not declare the payout. you will already be declaring medical benefit from your employer and this covers any claims.
Thank you.