HMRC Admin 20 Response
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RE: Car parking costs & commuting
Hi,
This would be seen as normal daily commute and not allowable.
Thank you. -
RE: Offsetting share sales tax losses 22/23 vs. dividends LTIP's 23/24
Hi,
The capital gains section.
Thank you. -
RE: Negative income after currency exchange
Hi,
US government bonds, sometimes known as T-bills or treasury bills are generally taxed as income rather than capital gains.
The return is paid at maturity rather than regular interest payments.
In the UK, these are known as deeply discounted securities, with the discount being the difference between the price at which they were issued and
the price received at maturity.
On a foreign investment the income is the difference between the purchase and redemption price after each has been converted to sterling on the day the transactions took place, so includes any foreign exchange gains. Losses cannot be deducted.
Have a look at SAIM3010 - Deeply discounted securities: introduction for more information.
Thank you. -
RE: EIS3 Income Tax Relief Claim
Hi,
£10,000 is the limit to which you then need to complete a tax return and this would mean an investment of £30,000. if your total investment is £10400 then you can just send the EIS 3 certificate - pages 3 and 4.
Thank you. -
RE: Interest on foreign bond investments
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RE: BADR: Ran business for 3 years, incorporated 18 months ago - Business asset disposal relief
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RE: RSU Tax Withheld
Hi,
As the payment is from your employer, the income should be shown in the employment section if it is included in your P60.
You would then claim credit for the Tax in the foreign section under 'Employment, self-employment and other income which you paid foreign tax on'.
If it's not included in your P60, please include it on the box on the employment page for 'Tips and other payments not included on your P60'.
ERSM20193 advises that when RSUs payout at the market value on what is called "dividend equivalents" in either cash or shares, such payments will generally be taxed as earnings in the year they are received.
ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents
Thank you. -
RE: Capital Gain Tax-selling business -eligibility for BADR
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RE: Self assessment repayment delays
Hi T7,
We calculate interest on repayments from 31 January after the year of the calculation
For example, we give RPS for the tax year 2017-18 after 31 January 2019.
For information on interest rates, you can read more here - HMRC interest rates for late and early payments
Thank you. -
RE: Taxation on pensions and contribution restrictions