eikkub
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RE: P85 Clarification
Hi HMRC Admin 32, Thanks for the response. As a non-resident, will one still be eligible for the personal savings allowance or will every interest earned from a UK bank account be classed as taxable income? The only interest -paying account left yields less than £1 per month . If that will be an issue , happy to close it so there will be no more interest earned in the next tax year and going forward. -
P85 Clarification
Kindly advise on the best way to proceed. recently started a new job abroad and was completing the form P85 online to notify HMRC. 1. came across a question on whether there is any future UK income. In this case, the only possible UK income will be interest from an account. All savings accounts have already been closed, but one bank surprisingly pays interest into a current account—although very little, often less than £1 per month. Total interest from all accounts this tax year is less than £300. This is less than the PSA of £500 as a higher earner. Does one need to answer yes to the question? No longer have any UK savings accounts, but this one bank has pays interest on current accounts. Not a lot in the account, so no significant interest. If answer yes, will there be an opportunity to add comments and provide the estimated interest of £1 per month? Otherwise,happy to close the account to keep things simple to avoid complexities. 2. There is a P45 to complete the P85 online. However, the final total pay on it is not correct. This is because accrued holiday was paid for after the P45 was issued ( a month after leaving the company). The figures on the online tax account are correct, as the final payment went through payroll as usual. The issue now is that P85 is asking for the figure in section 2/3 of the P45, which is not the correct total payment. Which figure should be used here? Is there a way to add a comment to P85 explaining that the figure on P45 is not up to date ? The online tax account figures are more up-to-date than the P45 and HMRC already have the correct figures. completed the P85 form up to the summary stage; no space has been provided for comments yet, Can you please advise on how to proceed?