HMRC Admin 20 Response

Hi Ambrose Jeremiah,

You will be able to claim private residence relief - HS283 Private Residence Relief (2023)

Thank you.

Hi isa,

1. For working out any gain, please refer to guidance at HS283 Private Residence Relief (2023).  
2. If claiming split year and your start date in the UK is after 30/11/22 when the property was sold, there would be no UK CGT to pay  
3a. the capital (loan) is not taxable    
3b. yes any interest received is included in your taxable income, it will be all the interest and not just 50% as the account is in your name
irrespective of how the funds were placed there.

Thank you.

 

Hi Sam,

In a straightforward switch, where no consideration is given or received apart from the old units and the new units, the switch would be treated as
not giving rise to any disposal for CGT purposes.
The new units will be treated as having the same date of acquisition, and the same capital gains cost, as the old units.

Thank you.

Hi Man Kit Derek Lam,

As it is  a joint account that you have, the interest should be splt 50/50 and only if your share exceeds £10,000 then you would need a tax return - both of you if your share is over the 10k.
If not, you can both send details in a letter for any tax due to be calculated.

Thank you.

Hi junj59141,

If the actual disposal of the shares was more than £49200 then yes a tax return is required.

Thank you.

Hi SAM LEE,

If you are from Hong Kong, this income relates to employment carried out there and is not taxable in the UK.

Thank you.
 

Hi JeffJeff21,

Can you clarify the reason given for tax free to allow this to be answered correctly.

Thank you.

Hi Democrat,

If it is for your tax retrun, you need to give the information yourself. you can state that some of the information is provisionl until you actually receive it all.

Thank you.

Hi Karen Howes,

If you have had notification from HMRC that we have granted the credits, are already in receipt of your pension and have not yet seen a change in your payments – you would need to speak to the DWP helpline on 0800 731 0469.

Thank you.

Hi Ian Walker,

You can apply to pay voluntary abroad National Insurance Contributions (NICs) by reading the information at the following link:
Social Security abroad: NI38
You can use the CF83 application held within this information link.  
You can choose to pay annually or by direct debit if you still have a UK bank account.
If you have a valid UK Passport or Driving licence you may wish to register for a personal tax account this will show information on your
NI record and also provide your UK state pension forecast.
If you cannot register for a personal tax account you can use the following link:
Pensions and ageing society - GOV.UK (www.gov.uk)
You will need to write into International Caseworker section for an investigation if you think your payments are not showing on your NI record.
The address to write to is:
PT Operations North East England
HM Revenue and Customs,
BX9 1AN

Thank you.