HMRC Admin 17
Joined: 1/20/2021
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RE: Income from property jointly owned.
Hi,
Thank you for your question.
It is unclear whether you have made a profit from the rents you received from the property.
Here is a link on how to calculate your profit :
Work out your rental income when you let property .
From 2017-18 the property income allowance was introduced.
More information is given here :
Tax-free allowances on property and trading income .
I think as a first step it would be best if you phoned so we can discuss this with you.
Our phone number is given in this link :
Income Tax: general enquiries .
If you do not want to phone then please each write to us with details of your half share of the income and expenses in each tax year
from when the property was first let out . A tax year ends on 5 April.
Thank you. -
RE: Declaration of beneficial interests in joint property and income
Hi,
Thank you for your question.
If a rental property is jointly owned by a husband and wife then the default method for splitting the income is 50:50.
As you have stated if you wish to split the share of the income differently then you will be required to make a Form 17 Election.
I presume that you are currently completing Self assessment tax returns to declare the rental income? If so, I would suggest that you contact the HMRC SA
Helpline on 0300 3200 3310 quoting your UTR (Unique Taxpayer Refrence number) to ask whether there is a National Insurance number
showing on your Self Assessment record.
Thank you. -
RE: Furnished property losses relief
Hi,
Thank you for your question.
Please refer to the guidance held at :
Property Income Manual in respect of the utilisation of property losses carried forward .
The losses can be carried forward from year to year if not required but they must be used/partly used in the first year that there is a taxable profit.
Thank you. -
RE: Keeping ACC and INC units separately in CG calculation records
Hi,
A share reorganisation is a general term used to describe certain transactions in which: new shares are issued to the shareholders in a company, or,
the rights attaching to shares are altered, or, a company’s share capital is reduced.
These are company led transactions.
So a switch in the guidance refers to a company offer to swap inc for acc units etc.
The 30 day rule will not apply as the units are regarded as separate classes.
Normal CG rules will apply. The sale of acc units followed by the purchase of inc units at any point will not be linked transactions.
Thank you. -
RE: PAYE20100 Questions
Hi,
You would need to discuss this further with our employers helpline.
They can be contacted here :
Employers: general enquiries .
Thank you.
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RE: Self Assessment needed?
Hi,
You would only submit a tax return for the period in which you were UK tax resident.
Guidance on your residency can be found here as it is not just dependant on the 183 day rule:
RDR3 Statutory Residence Test .
You cannot file online using HMRC software for the SA109 section which is where you would claim the remittance basis.
This would need to be done on paper or through third party software:
Self Assessment commercial software suppliers .
Thank you. -
RE: Freelancer in the UK
Hi,
If you are a UK resident sole trader then you would need to register for this.
You can do this here :
Set up as a sole trader .
This will also register you for class 2 and class 4 NI which will be collected through your self assessment.
See link:
National Insurance .
Thank you. -
RE: £6 WFH allowance for 52 weeks or holidays need to be removed?
Hi,
For the 20/21 tax year you were able to claim the full 52 weeks even if you only worked at home for part of the year.
Thank you. -
RE: Unable to verify account with incorrect phone number
Hi,
We do not deal with queries regarding the Passenger Locator form, please see guidance here:
Fill in your passenger locator form .
Thank you. -
RE: Paying twice underpaid tax?
Hi,
I would expect you to only get taxed on this once, If the amount was not declared on the return then you would get the 95.60 taken off your tax bill which would refund the amount paid.
If you have submitted your return you can contact our Self Assessment department after 72 hours and we can check the calculation to confirm.
Thank you.