HMRC Admin 17 Response
Joined: 1/20/2021
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RE : Which form to fill in for transitional basis period for husband and wife partnership
Hi ,
Please refer to:
Changes to reporting income from self employment and partnerships .
Thank you . -
RE: Money from savings account at area outside UK remit in UK for supporting living in UK
Hi ,
If the money is for personal use only then no.
Please Refer to :
CG78315 - Foreign currency: personal expenditure of individuals .
Thank you . -
RE: Calculator for working out interest and penalties
Hi ,
You still need to report it as you can then carry forward the loss to use against a laters years rental profit .
Thank you . -
Tax-deductible expenses on CT600
Hi ,
The deductible expenses you have describe are included in the account, you should then transfer this figure to your computation to
get your taxable profit This figure is used in 155 and 165. and include any deductible expenses.
The capital allowances are placed into a boxes between 690 and 751 depending on the type of allowance.
You may need to see a tax advisor to help you complete the return if you are still struggling.
Thank you . -
RE : IRA distribution
Hi ,
Payments made by the individual into an IRA, are made after tax relief is given to the individual by the employer. Payments from this pension are taxable in the USA.
HMRC do not recognise IRA schemes as pensions, so for UK residents, they are taxed as income under the interest and declared as foreign interest on a tax return (SA106).
There is no US taxation if the pension is subject and liable to UK tax. If US tax is withheld, then the individual, should seek a refund of this tax
(file a form 1040NR).
HMRC will not give a credit for this tax against any UK tax charged on this income.
Payments made into a Roth IRA are made before tax relief is given.
As a result, payments from this account are not taxable in the USA.
HMRC recognises this account as a pension scheme and as it is not taxable in the USA, it is not taxable in the UK either .
Thank you .
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RE: Pension from Hong Kong
Hi ,
As its not taxable here you dont include it in the foreign section .
Thank you . -
RE : missed self assessment registration deadline
Hi ,
If you are unable to register online then you will need to contact HMRC to register :
Self Assessment: general enquiries .
If you register late you will have 3 months and a week to file the tax return before late filing penalties are charged but
the original payment date will apply, which for 2023/24 is 31 January 2025.
Thank you . -
RE: Assistance for deaf or hard of hearing
Hi ,
Get help from HMRC if you need extra support at:
Get help from HMRC if you need extra support .
Thank you . -
RE : Payload Query
Hi ,
This would need to be the specifications of your own car and should be on the vehicle registration document .
Thank you . -
RE: CGT losses - declaration and utilisation
Hi ,
Any previous years losses will be declared in the losses brought forward section .
Thank you .