HMRC Admin 20 Response

Hi Mikehh,

I can confirm that all post is dealt with in strict date order and the current timescale for processing your CF83 application is approximately 29 weeks.
The team who will process your application are currently working on post dated 11 August 2022.
I can confirm that the deadline for paying voluntary National Insurance contributions has been extended to 31 July 2023.
Your application will be treat as being received before the deadline if it is received by HMRC before that date, regardless of the date it is processed by HMRC. 

Thank you.
 

Hi Tommy Leung,

Interest ‘arises’ when it is received or made available to the recipient.
Interest has been made available if it is credited to an account on which the account holder is free to draw.
For additional guidance on when interest arises see:
SAIM2400 - Interest: taxation of interest: the tax charge ‘Interest arising’

Thank you.

Hi Vipin Kumar,

Their could be.  
You will need to work out if there is any capital gains liability.  
To do this, all parts of the calculation must be in UK pounds sterling (GBP) using the official exchange rates in force at the date of purchas and disposal.  
The official exchange rates to use can be found at (Exchange rates from HMRC in CSV and XML format).  
You are free to choose any of the 3 exchange rates available, from annual average, monthly or spot rate.  
A calculator to help you workout any gains can be found at (Tax when you sell shares).

Thank you.

Hi Ahmad Farhan,

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.