HMRC Admin 20 Response

Hi 

HMRC cannot provide an opinion on whether your grant income is capital or revenue in nature. This will depend on the facts, and the company will need to self-assess which type of grant it has received.
You can find HMRC guidance on this topic by going to ‘BIM40451’.

Thank you.
 

Hi socialgypro,

Activation codes for online services are sent by post.
If you need technical support using HMRC’s online services, you will need to call 0300 200 3600.  

Thank you.

 

Hi kwality12,

Distributions are charged to corporation tax only if they are not exempt. Distributions received by companies are in most cases exempt from corporation tax under s.931A CTA 2009. You can find more information by going to ‘CTM15120’ and ‘INTM650000’.
If a company suffers overseas tax on dividends that are exempt from UK corporation tax, it will not pay tax again in the UK. However, some double-taxation agreements allow the rate of overseas tax applied to dividends to be reduced if those dividends are subject to tax in the UK. This is also known as the ‘treaty rate’. 
If a company wishes to claim a reduced rate of dividend withholding tax and the relevant double-taxation agreement requires that the dividends be subject to tax in the UK, the company will need to elect for the dividends to be taxable in the UK. You can find more information by going to www.gov.uk and searching ‘INTM655010’.

Thank you.

Hi Leo,

You will need to contact msb.countrybycountryreportingmailbox@hmrc.gov.uk for technical queries and information relating to country-by-country reporting.

Thank you.

Hi AndM Bhda,

Transferring funds from an overseas bank account to a UK bank account generally does not have any tax consequences.
Any cash held in the company’s bank account will be shown as a current asset on its balance sheet. 
If the payment relates to income or profits derived from overseas business activities, for example investment income from overseas
assets, the company may need to pay tax on that income. 

Thank you.
 

Hi Abulbanaat.

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.
HMRC guidance on company residence can be found by going  ‘INTM120000 - Company residence’.
The rules relating to IR35 can be complex, so we suggest that you speak to a financial adviser, such as an accountant, if you need further advice.

Thank you.

 

Hi Chun Sing Fong,

Please refer to Self Assessment: forms ordering

Thank you.

Hi Christina Chu,

No. if the return is late you can appeal against any penalty.
You could also file online using 3rd party software to show the rental income and residence status - Self Assessment commercial software suppliers

Thank you.

Hi Angela,

This can be found at Self Assessment: Capital gains summary (SA108)

Thank you.

Hi brit-in-germany,

The tax would depend on your residence status as to whether you would declare here or Germany.
Please refer to RDR3 Statutory Residence Test.
With the A1, yes you would be exempt from NI.

Thank you.