HMRC Admin 17 Response
Joined: 1/20/2021
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RE : Deferring or transfering CGT when moving home
Hi ,
It cannot be deferred to moved to the new home.
Once the actual charge is known, you can ask for a payment plan to pay it in instalments .
Thank you . -
RE: UK citizen in the UK wants to close out USA Traditional IRA and bring monies home to the UK.
Hi ,
You cannot directly transfer a 401(k) plan to a UK pension scheme as these are not accepted as pension funds .
Thank you . -
RE : P85 or SA109 for armed Forces posted overseas
Hi ,
You are still classed as being on UK soil as a crown servant so the P85 and SA109 are not applicable .
Thank you . -
RE : Crypto transfer to spouse
Hi ,
Transfers/gifts to a spouse are done on a no loss no gain so there s nothing to report.
If the spouse then sells the asset then this is when they need to report any gain.
Thank you . -
RE: Payments on Account
Hi ,When you submit your Self Assessment tax return you will received a calculation, SA302.
The calculation will not take into account the payments on account made.
The payments on account will be taken into account on your statement.
The payments on account made will be deducted from the balance calculated on your SA302.
Thank you . -
RE : UTR Rejection
Hi ,
You can register your client for a UTR without a NINO using the SA1 form - see :
Register for Self Assessment if you are not self-employed .
Thank you . -
RE : Personal pension and interest earned on savings
Hi ,
Your banks and building societies confirm the bank interest you receive after the end of the tax year - if any tax is due on this after applying savings allowances, then we will contact you to confirm, and advise on ways that you can pay.
If you have earned bank interest in previous tax years, though, an estimated amount of bank interest may have been present in your 23/24 tax code already, which should reduce the amount of tax left to pay.
See :
Tax on savings interest .
Thank you . -
RE : Company car and self assessment
Hi ,
If your employer adds your BIK to your gross wage, then you do not need to add your BIK to your Self Assessment return.
If your employer declares your BIK through a P11D, and you pay the tax due through an adjustment to your tax code, t
hen you DO need to add your BIK to your Self Assessment return - doing so insures the deduction to your code to pay the
tax due is reflected in your Self Assessment calcualtion.
Thank you . -
RE : VAT deduction for exempt supplies abroad
Hi ,
If you are making supplies of financial services then you are entitled to deduct the input tax relating to these
as you would with taxable supplies made in the UK.
If you are incurring VAT in the UK on supplies relating to exempt supplies made in the UK then you would
not ordinarily be entitled to recover this as input tax.
Please see the guidance below:
VAT Notice 701/49: finance .
Please also see the guidance below which provides infornation of what VAT you can claim under partial exemption rules :
Partial exemption (VAT Notice 706) .
Thank you . -
RE : Payment of VAT before registration
Hi.
I am sorry that your previous 2 applicatios to register for VAT were rejected.
If you had breached the threshold as a result of receiving reverse charge supplies then there would have been a requirement to register for VAT .
I would recommend completing another application to register with a start date going back to when you breached the threshold
and making it clear on the application why there is a need for a backdated start date .
Thank you .