HMRC Admin 20 Response
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Double Taxation - Refund of Income Tax
Hi,
No.
Interest is not due on refunds for the 23/24 tax year until 1/2/25 and for 24/25 refund, this will be done through your PAYE source.
Thank you. -
RE: Selling US stock issued by employer
Hi,
As previously advised, if no P60, you declare the income still on an employment page but show it as tips, you then claim foreign tax credit relief for the tax paid.
Thank you. -
RE: Compensation for Loss of Notice - Reclaiming Personal Tax
Hi,
You need to send your compensatin paperwork to
HMRC PAYE & Self Assessment
BX9 1AS
for this to be refunded.
Thank you. -
RE: What period sales to be reported
Hi,
Businesses should account for VAT from their effective date of VAT registration onwards.
Please refer to notice 700/1 section 5 regarding starting to account for VAT 5. Accounting for VAT 5.1 Keeping records and charging VAT — when to start
B2C supplies of digital services where the customer is in an EU member state would normally be accounted for under the non-union OSS return.
The place of supply for B2C digital services is normally where the customer belongs.
The net value of the sale would also be declared in box 6 on a VAT return as per notice 700/12 section 3.7 3. How to fill in each box on your return
Thank you. -
RE: Income from Rental Property with share holder
Hi,
Form 17 allows married couples and civil partners to declare unequal beneficial interests in jointly owned property and income (e.g., rental income).
If you were to transfer part of your beneficial interest in the property to your wife, you would then be able to submit a Form 17 to declare your new shares, with supporting evidence.
Your individual shares in the beneficial ownership of the property and your individual shares of any rental income arising from the property must be the same.
For detailed guidance about the Form 17 process, including information about time limits, claim requirements and evidence examples, please see-:
Trusts, Settlements and Estates Manual TSEM9800 - Property held jointly by married couples or civil partners.
Thank you. -
RE: Rental income from one foreign property
Hi,
As your wife was in receipt of taxable income from abroad she would need to file a self assessment tax return and include the foreign income page with details of the property income received. Any foreign tax paid on this property income can be claimed also.
Thank you. -
RE: taxation of rental property for unmarried partners
Hi Sally,
It is correct that on marriage the split of Income from Property income reverts to the default position of 50/50 automatically.
Therefore, a new Deed of Trust must submit to HMRC showing the revised split and a completed Form 17.
The declaration concerning the date of marriage and the revised split of the income would be noted on the Form17 and I assume in your correspondence to HMRC confirming the date of marriage and your notification of the split in the property income.
Thank you. -
RE: Rental income transfer to wife
Hi Sally,
It is correct that on marriage the split of Income from Property income reverts to the default position of 50/50 automatically.
Therefore a new Deed of Trust must be submitted to HMRC showing the revised split and a complted Form 17.
Information can be found in the following hyper links.
PIM1030 - Introduction: jointly owned property & partnerships
TSEM9842 - Property held jointly by married couples or civil partners: Form 17 rule: introduction
Thank you.
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RE: Non-resident, working remotely: PAYE and other tax obligations.
Hi,
That is correct.
Thank you. -
RE: Interest Income offset by Interest expense
Hi,
No, interest paid on credit cards cannot be netted against interest income from savings.
Thank you.