I am seeking clarification on EIM21885 - the annual cost of the benefit should include "additional expenses".
A company makes its computers available for private usage. It has now paid its ISP £100 upfront for 6 years of internet hosting, for which there is some private usage. Should the benefit in the current tax year for these additional expenses be based on the whole £100 or should it be spread out over 6 years (£16.67 pa)? If the former, then years 2 to 6 would have no charge despite there possibly being some private usage in those years.
I cannot find further explanation in HMRC's manual and ITEPA 2003 s205 does not help much either.
I paid voluntary class 3 NI in August 2022 for the current tax year. As it was not showing in my personal tax account for 2022-23, I phoned the NI helpline today (at 8am!), and the chap said it had been received ok and allocated already.
My questions are:
1. When does one's personal tax account get updated - is it after the end of the tax year?
2. How can you get an up to date pension forecast if your personal tax account is not up to date, as the forecast showing is one year behind?
3. I was told that six months before you retire, the HMRC NIC records are transfered to the DWP. This would be true for myself as I retire in 4 months time - does this explain why my personal tax account is not showing the current year
contributions, because HMRC are no longer maintaining it?
The chap said HMRC and DWP see the same records as each other so there's no point me ringing the DWP.
Perhaps admin can help?