HMRC Admin 25 Response

Hi greenleaves Jay,
We cannot comment on any form of calculation/example or scenario, whether fact or fiction.
We can only point you the direction of the guidance, so that you can review the guidance and to allow you to make an informed decision.
The guidance on Residential Relief is here:
Private Residence Relief (Self Assessment helpsheet HS283)
Thank you. 

 

 

Hi CGTNewbe123,
You will be liable to Capital Gains Tax on your share of the profit.
No other taxes apply.
Thank you. 

 

Hi Alok Guha,
HMRC cannot comment on future events as legislation may change.
ased on current guidance please refer to:
Tax on your UK income if you live abroad
Thank you. 

 

Hi neemz,
You are correct.
Thank you. 

 

Hi Steven Rigby,
Please refer to guidance here on how to complete this section:
Self Assessment: Self-employment (full) (SA103F)
Thank you. 

 

Hi afm0987,
 Please check if you need to send a Self Assessment tax return here:
Check if you need to send a Self Assessment tax return
Thank you. 
 

Hi sw2048,
If your property income is more than £1000, you can choose to calculate your profits on the usual basis which is your gross income less expenses, or
you can elect to deduct the £1000 property allowance from your gross property income.
If you do choose this option, you cannot deduct any expenses.
You can get more information on our website on Trade and Property Income Allowance:
Tax-free allowances on property and trading income
You would use the net income for your adjusted net income. 
Thank you. 

Hi Mohammed1707,
This sounds like a subcontractor and therefore self employed and will need to complete a tax return.
For allowable expenses, please refer to:
Expenses if you're self-employed
Thank you. 

Hi khng,
Split year treatment does not require a claim.
If you are eligible, it applies automatically and cannot be disapplied. as such the SA109 is not required.
Thank you. 

 

Hi momoho2024,
The salary is taxed when paid to you and if paid after 5 April 2024 will be in the new tax year 2024/25. 
Thank you.