HMRC Admin 17
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RE: Business government gateway account
Hi ,
If you already have a government gateway ID, you can use this to set up a Business Tax Account.
Please refer to the guidance and links at :
www.gov.uk/log-in-register-hmrc-online-services/register .
Thank you .
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RE: Beneficial interest implications for bank account
Hi ,
Thank you for your question.
You are correct, whether the property was held under sole ownership or joint ownership, the account as to where rental income is received does not determine who declares income and expenses in reference to a rental business, instead, the split shown in the Form 17 as you have made reference to joint ownership of the rental property determines the overall split and declaration.
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RE: LTD Company never traded, no employees
Hi,
If you have now sent in periods of no payments for the applicable tax periods, this will reverse any estimated charges that were previously applied to your account.
The EPS submissions take around 72hrs to update from the time they were sent.
Where you have been charged any penalties for failure to send in submissions, you will need to appeal these online via your government gateway account.
If you no longer require your PAYE scheme and have not yet submitted a cessation date, you can do this via your payroll software.
Should you wish to confirm your account position or require any assistance with any of the above,
please call the Employer Helpline on 0300 200 3200.
Thank you . -
RE: Deed of Assignment
Hi,
Thank you for your question.
I'm sorry to advise you that form 17 is not applicable in your case as you own 100% of the property.
Form 17 is only applicable if the property was jointly owned between married couples, with a 50/50. To facilitate form 17 split, you would need to transfer 50% of the property ownership to your wife, under a formal Deed and register her as a joint beneficial owner.
Please refer to the following for further information.
PIM1030 - Introduction: jointly owned property & partnerships - HMRC internal manual - GOV.UK (www.gov.uk)
TSEM9800 - Property held jointly by married couples or civil partners: contents - HMRC internal manual - GOV.UK (www.gov.uk)
Capital Gains (CG) is chargeable in respect of who is the actual beneficial owner of the property.
As it stands you being the 100% owner of the property, you will be liable for CG. Furthermore, if you do transfer a beneficial interest to your wife, you are liable to CG on the transfer.
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland .
Thank you . -
RE: Self build house vat reclaim
Hi.
There are currently no timesacles but the DIY Team will contact you if if extra information is needed.
However if you need to call the DIY Team for a progress update please contat them on 0300 322 7073.
Thank you .
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RE: Capital Allowances on FHLs
Hi,
Thank you for your questions.
The questions you are asking are not really suitable for this forum as the subject matter is appropriate to a Technical Inspector.
Could I suggest that you put your questions in a letter so it can be reviewed and answered in full by an Inspector.
Please send your letter to HMRC,
BX9 1AS, United Kingdom.
Thank you . -
RE: Declaration of Trust for property income
Hi,
Thank you for your question.
With regard to the loan/mortgage interest.
I would refer you to the guidance at:
Tax relief for residential landlords:
how it's worked out - GOV.UK (www.gov.uk) .
Thank you . -
RE: Transfer property income to my new Wife
Hi,
Thank you for your question as it relates to trust registration .
I suggest you call out trusts helpline on 0300 123 1072 they will be able to assist you further .
Thank you . -
RE: Changes in Declaration of Trust
Hi ,
Thank you for your question I would suggest contacting
trust helpline 03001231072 for advice on closing a trust .
Thank you . -
RE: Am I classed as non-resident Landlord if posted to Sovereign Base area Cyprus
Hi ,
Thank you for your question you will need to contact the non resident landlord helpline on +44 300 322 9433
as they do not monitir this forum .