HMRC Admin 25 Response

Hi Dhrub,
Please see guidance here:
Individual Savings Accounts (ISAs)
Which confirms You do not pay tax on interest on cash in an ISA.
Thank you. 

Hi Malathy, 
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum.
This forum is for general queries only and is intended to help you self-serve.
You are able to contact HMRC regarding the trust fund here:
​​​​​​ Trusts
Alternatively, you may wish to engage the services of a professional advisor/accountant to assist with your enquiry.
Thank you. 

 

Hi eddyesi,
Please contact our Self Assessment helpline to progress chase your appeal.
Contact details here:
Self Assessment: general enquiries
Thank you. 
 

Hi hbeech,
You take the 50% value at the time your father died and the other 50% when your mother died added together for your purchase price.
The date acquired will be when you got the first share.
Thank you. 

 

Hi MoulinRouge,
A Self Assessment is not due for gifted money as this is not taxable. 
Thank you. 

Hi binczekoladen,
To review your tax codes for both jobs please contact HMRC here:
Income Tax: general enquiries
You can then request your tax code be split between your two jobs/employer. 
Thank you. 
 

Hi dimitrikarapatis,
Please refer to guidance here:
Report and pay your Capital Gains Tax
Thank you. 

Hi warman,
Where a child gets more than £100 in interest from money given by a parent.
The parent will have to pay tax on all the interest if it’s above their own Personal Savings Allowance.
The £100 does not include money given by grandparents, relatives or friends; or in a Junior ISA or Child Trust Fund.
How you break this down to identify the parents element is up to you.
SAIM2430 - Interest: taxation of interest: children's accounts
Thank you. 



 

Hi TGK,
Based on the details provided you will need to complete a 2023/24 Self Assessment tax return.
It depends on what details you enter in the checker as to the guidance given. 
Thank you. 

Hi Sara Bennett,
Yes, you will need to complete a Self Assessment tax return.
On the tax return you will need to enter the 50% of your share of the joint savings. 
Thank you.