HMRC Admin 20 Response

Hi Ash Gordon,
Pre-trading expenses incurred 'wholly and exclusively' in relation to a new sole trader business can be treated as expenses incurred on your first day of trading.                                                  Expenses if you're self-employed
Thank you.
 

Hi Andrew Davenport,

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Thank you.
 

Hi B Robinson,
I can agree that as per the guidance at PIM1030 if you hold a joint property but are not married or in a civil partnership with the joint owner then you are not required to obtain a DOT. IE.The rental profits can be split in any way that the two of you agree. It may be prudent to have a written note of the agreed split but that would be your decision.  
Thank you.

 

Hi Tamsin Smith,
This is not the correct forum as this relates to expenses for a Ltd company.
You should call the Corporation tax department on 0300 200 3410.
However I have added a link that may help Corporation Tax rates and reliefs
Thank you.

Hi Tuttlebees,
The question here is do you charge your parent to rent the room.
I have attached helpsheet HS223 to help you consider your circumstances.
HS223 Rent a Room Scheme (2021) Updated 6 April 2023 1. When you can use the Rent-a-Room Scheme.
PIM4001 - Rent-a-room: overview.
Thank you.

Hi CMG12 00,
Relief may be restricted in this case. I have attached the property income manaul reference PIM2056 which will answer your question
PIM2056 - Deductions: interest: restriction for income tax purposes from 2017/18: apportionment
Thank you.

Hi phil cat,
I would advise that this expense should be noted under repairs and maintenance.
This is because a gas certificate would be issued in the course of maintaining the property.
PIM2076 - Deductions: main types of expense: cost of providing services
Thank you.

Hi Iona02,
You are correct both the Broker fee and Product fees incurred are claimable expenses.
These charges would be included in the “Legal, Management and Other professional fees” box.
The mortgage interest would go into box 44 “Residential Property Finance Costs”.
Please also refer to the SA105 Property Notes pages. UK property notes.
Thank you.

Hi yrtegzues,
You would need to contact HMRC to access your record to check if the self employment has been closed.
Self Assessment: general enquiries
Thank you.

Hi Infamousinstincts,
We would need to access your record to check the figures.
You can contact HMRC at Income Tax: general enquiries 
Thank you