HMRC Admin 20 Response
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RE: Inform HMRC to strike off the company
Hi Tarek,
You will need to contact Companies House in regards to striking off and complete DS01 form.
If the Company has traded, you will need to file a Tax return with HMRC for the account period trading took place.
Thank you. -
RE: Receiving payment from a UK Client with a Business registered in Dubai
Hi,
HMRC cannot give tax planning advice.
However it does not matter what account the money is recived into, if it taxable in the Uk or Dubai it will still be taxable in the UK or Dubai.
You will need to review the double taxation treaties and decide where the amounts are taxable and declare them using the appropriate returns.
Guidance can be found at Tax treaties
If you do get taxed twice on an income, or it needs to be declared in both the UK and Dubai, you can look at double taxation relief or certificate
of residence depending income source.
Thank you. -
RE: Do i need to file a Tax Return for a dissolved and never traded company?
Hi,
If the Company has been dissolved on Companies House & HMRC have been informed of the date the Company was dissolved , you will not need to file a tax return.
Thank you. -
RE: Tax Residency Form - Unincorporated Association
Hi Philip,
We can not advise, as we can only provide you a tax identification number if you are registered under a tax regime.
You will need to contact the bank and ask them what you can use in it's place or if there is another route for you to take.
The only way we can provide you with a UTR is to register for CT, but then you could become subject to the obligations of filing a return.
Thank you. -
RE: CT600 losses b/fwd and deductions allowance
Hi David,
We can not advise you why you cannot use the losses, there are several reasons this might be such as, type of income or type of business.
Some types will need to use third party software to have access to all losses .
Please review guidance below to see if your eligible for losses.
CTM04000 - Corporation Tax: trading losses: general: contents
If you still require assistance please seek help from an accountant.
Thank you.
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RE: Company tax return form if the company has been dormant and prepare to close
Hi,
If the Company is registered as dormant with HMRC (please note you will need to notify HMRC as well as Companies House as they are seperate entities) from Incorporation you will not need to take any further action.
However if the account period in question is still showing as live you will need to write in to confirm your Company has never traded & that you intend to close the Company.
We can then adjust our records to confirm Dormancy from date of Incorporation.
Thank you. -
RE: Email contact with HMRC
Hi Firefly5 Guppy,
I apologise for any inconvenience this has caused you.
Please visit Self Assessment: forms ordering which advises you can ask someone you trust to order one for you if you cannot call.
Thank you. -
RE: Earnings from AirBnB property
Hi,
Please see guidance available at TSEM9812 - Property held jointly by married couples or civil partners: Overview: two main rules which advises- the ‘50/50 rule’ (ITA/S836) whereby most income from jointly held property is treated as split equally between the two spouses or civil partners for income tax purposes; the 50/50 rule applies unless there is a valid declaration on form 17; sections TSEM9814-9840 contain the details.
Unless a Form 17 is in place to declare unequal shares in the property, the income must be split equally between spouses.
Therefore, Rent a Room limit would also be split by 50% to £3750.
Thank you. -
RE: Mortgage Interest deduction
Hi,
As the property income is split between you and your wife you enter 50% of the mortgage interest payments in box 44 on the SA105.
You can make alterations to your tax returns for the last four tax years to the 2020-21 year.
The guidance is here: If you’ve missed the deadline to change your return
The reduction is the basic rate value (currently 20%) of the lower of either your finance costs (interest on mortgage payments) or your property business profits - the profits of the property business in the tax year (after using any brought forward losses) or finally your adjusted total income - the income (after losses and reliefs and excluding savings and dividends income) that exceeds your personal allowance.
There is a some really useful guide here: Tax relief for residential landlords: how it's worked out
Thank you. -
RE: Selling property abroad
Hi,
You will need to provide evidence to support this by way of a formal valuation and/or evidence of similar properties of the same standard sold at the same time.
Thank you.