HMRC Admin 25 Response

Hi user404,
1. No, the Spanish company will not have any obligations 
2. No, as you are working in the UK and it will be treated as self employment here.
Thank you. 
 

Hi Darren Sharpe,
You are correct for all your  questions asked. 
Thank you. 

Hi nelk24,
You can use any rate within the relevant tax year.
The official exchange rates can be found here:
https://www.gov.uk/government/collections/exchange-rates-for-customs-and-vat
Thank you. 

Hi nelk24,
Government bonds (gilts) are exempt from Capital Gains Tax.
They are taxed as Income Tax.
For the foreign bonds, please refer to:
IFM13356 - Offshore Funds: participants in offshore funds: participants within the charge to income tax: income and distributions from non-reporting funds: non-transparent funds
Thank you. 

Hi Audrey 
The winnings from premium bonds are not taxable income.
For Inheritance Tax purposes (not the same as Income Tax) you will have given your son the maximum tax does not count towards Inheritance Tax, before you gift him any of your premium bond winnings.
Any cash gifts over the £3000 'annual exemption' will count towards your estate for Inheritance Tax purposes.
Please have a look ahere:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. 

Hi Masha Manja,
Please contact our Online Services Helpdesk here for help and resolving this issue:
Technical support with HMRC online services
Thank you. 

Hi Spencer,
Based on the information you have given you would not meet the criteria for Self Assessment.
The untaxed income over £2500 excludes untaxed savings.
You can check if you meet criteria here:
Check if you need to send a Self Assessment tax return
Thank you. 

Hi Erica,
For assistance it would need to be our online helpdesk.
Here are there contact details:
Technical support with HMRC online services
Thank you. 

Hi asillyusername,
Not for profit’ does not mean a Company doesn’t need to complete company tax returns and isn’t liable to pay Corporation Tax.
An intention not to make a profit provides no exemption from Corporation Tax. 
Usually, the income received by a property company is not liable to Corporation Tax.
This is because it's not considered 'active' for corporation tax purposes, basically the income is not from trading. 
However, the income is taxable as Property Income, although usually set at a level which leaves a no profit or loss situation at the end of the year (income matching expenditure). 
Sinking funds involves the long term setting aside of funds for major repairs and renewals.
Service charges and contributions to sinking funds fall outside the scope of corporation tax as the landlord or payee is not beneficially entitled to these receipts. 
Calculating your profits in accordance with GAAP, subject to any adjustments required or authorised by legislation, will allow you to deal with any surplus appropriately.  
We have completely separate filing requirements to Companies House and you should check with them as to what these are. 
Thank you. 

Hi Gary
For more information please refer to:
Non-UK resident landlords
Thank you.