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  • Not registered for Class 2 NIC issue

    Hi there, I need advice on a person who has not been registered for class 2 NIC since 2021/22. HMRC have forwarded letters to them removing class 2 NIC although they had included it on the return filed. Questions: 1) What are the implications of this? 2) Assuming the client has earned over £12k since 2021/22, does this non payment of Class 2 mean that these years will be non eligible years for their NIC record? Please advice, thanks
  • RE: FCTR entry on taxes deducted abroad

    Thank you, also these are taxes deducted on rental profits. There are items such as amortisation allowed for (tax deducted) in the foreign tax return which would normally not be allowed against UK rentals. So should those be allowed for in the foreign income section exactly as in their foregin return or should such items be disallowed? Thanks
  • FCTR entry on taxes deducted abroad

    Hi there, I have a query regarding the FCTR declaration. The situation: Foreign income earnt for 2022-23 was £19,000 (6th April 22 to 5th April 2023). However, the foreign country returns run from 1st Jan 2022 to 31st December 2022 so the income earnt for that year was £16,000 taxable with £4,000 tax deducted at source abroad. So when the FCTR entry is declared, should the 2022-23 return reflect 1) the £16,000 taxable income with £4,000 tax deducted (both figures exactly from the foreign tax return for 2022) 2) £19,000 taxable income with £4,000 tax deducted (actual income for 2022-23 with tax deducted amount from foreign return Jan 22- Dec 22) 3) £19,000 taxable income with £4,750 tax deducted (actual income but pro rated tax £4000x19000/16000) Please let me know at the earliest convenience, thanks