HMRC Admin 20 Response

Hi David Moore,

As the deed will have agreed an overall price for the property, it is this date that and amount you will use. the ability to pay it in 4 instalments should not have affected the purchase price.

Thank you.

Hi G0T,

You would need to contact HMRC to review. Contact HMRC

Thank you.

Hi Russell Hibbin,

If you should be in Self Assessment then yes the simple assessment would be cancelled and reviewed via your Self Assessment tax return. 

Thank you.

Hi joseph,

You would need to contact HMRC to review your employment record and codes.
Income Tax: general enquiries

​​​​​​​Thank you.

Hi Susan Hope,

We would need to review your record to check this for you. You can contact HMRC at Contact HMRC

Thank you.

Hi FL,
The personal allowance is £12570. The £5,000 is the starting rate for savings. The £1,000 is the persoanl savings allowance.
Thank you.

Hi SH-C,

You will need to contact HMRC to review. Self Assessment: general enquiries

Thank you.

Hi LouiseHHHH Harwood,

You pay tax on any interest over your allowance at your usual rate of Income Tax.
So if you are in the 40% tax bracket, you would pay 40% on the relevant amount of interest, and claim Foreign Tax Credit Relief re: the Australian tax
(10% being the treaty rate) already deducted.                
Tax on savings interest

Thank you.

Hi fm1,

HMRC cannot comment on future events as legislation may change.  
Please refer to Tax on savings interest for current guidance.

Thank you.

Hi treborsenots,

There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.  
Further guidance can be found here (Tax on savings interest and Tax on dividends).  

Thank you.