HMRC Admin 20 Response

Hi Rachel Thatcher,

Please see the link below to the Gov.UK website.
Pay Class 2 National Insurance if you do not pay through Self Assessment
This explains that as an Examiner you will pay direct to HMRC and you will receive a bill every October, if you click the link Newly Self-employed Helpline
this will take you to How to call HMRC on 03002003500 to register to pay Voluntary Class 2.

Thank you
 

Hi Bridget Davies,

The aim for HMRC is for any Voluntary Class 3 payments to be allocated within 8 weeks of the payment reaching us.
If you have made the payment earlier than this, I would advise you to contact the National Insurance (NI) Helpline on 03002003500,
office hours 8am to 6pm, if the payment is shown on your account the NI agent will be able to allocate this to your NI record during the call.
Since the extension of the deadline to 5th April 2015 to make Voluntary Class 3 NI payments for shortfall years, the Helpline is no longer as busy.

Thank you.

Hi njc23,

Sale of UK residential property must be reported and any CGT paid within 60 days of the sale
Report and pay your Capital Gains Tax 

Thank you.

 

Hi Ranny Sahota,

Please see guidance at:  PIM2505 - Beginning and end of a rental business: commencement

Thank you.

 

Hi Julia Muirhead,

If you are unable to update this online please contact our helpline again or write to us
Income Tax: general enquiries

Thank you.

Hi MMYC,

If they are actual dividend payments, these will be under dividends.
If foreign dividends, they can still be declared here but if they amount to more than £2000, you must show them as foreign dividends on the foreign income section,

Thank you.

 

Hi sy123ccc Ma,

You can not de-register for the account.

Thank you.
 

Hi Sassp,

As you are resident and domiciled in the United Kingdom, you are taxable on your world-wide income, in the UK.  
To covert your foreign income into pounds sterling, you can use the published exchange rate on the day of receipt.  
These rates tend to be found in national newspapers.  Alternatively, HMRC provides 3 rates (monthly, annual and spot rate) at:-
Exchange rates from HMRC in CSV and XML format
You are free to choose whichever you prefer or gives the best exchange.  
You should not use the exchange rate when converting into UK currency when transferring into your UK bank account, as this rate will differ from the official rates and the loss or gain from this conversion has to be met by you.  
Even if you retain some of your income in foreign currency, in a foreign bank acccount, for any reason, this should still be declared using the methods above, as this is still world-wide income and is still subject to income tax.

Thank you.

Hi Hurricane75,

The carry forward allowance only applies for pension tax charges to reduce any charge that may be due.
You cannot use previous years allowance to claim tax relief on your actual payment.
Tax relief can only be given up to the value of your income -
Tax on your private pension contributions

Thank you.

Hi Rusty Thomas,

In answer to you questions

Q1. yes you can use this method.  
Q2. you are still entitled to claim personal allowances and this would be used against your UK rental income so you will still show
12570 here and your rental profit will be your gross income.  
Q3. yes you can do this

Thank you.