HMRC Admin 25 Response

Hi Ian Brown,
Tt's 20k in total.
Thank you. 

 

Hi franklyspeaking Coates,
We are sorry you have not had a reply to your letters.
To review your tax code we will need to access your record.
You can contact HMRC here:
Self Assessment: general enquiries
Thank you. 

 

Hi GASS1967,
It depends on your tax residence:
RDR3 Statutory Residence Test
Tax on your UK income if you live abroad
Thank you. 

 

Hi stephanie_mccahill McCahill,
There is a possibility of a capital gains charge.
When the disposal completes, you would take 50% of the disposal value and from this, deduct, 50% of the acquisition cost and 50% of acquisition / disposal costs, such as solicitor , estate agent fees.
You can then apply private residence relief, which is the number of months the property was your main resident over the number of months you owned the property.
This fraction give a deduction to take from the gain.
If you still have a figure above £0.00, you can set your annual exempt allowance for capital gains, this year it is £3000.
If you still have a positive figure, you have a gain that is taxable.
Please have a look at the helpsheet for private residence relief here:
Private Residence Relief (Self Assessment helpsheet HS283).
There is a capital gains calculator here:
Tax when you sell property
To help you work this out.
You can move on to the next sections and register for a capital gains account, which you can use to report and pay any gain.
Please note that if you do have capital gains tax to pay, you have 60 days from the completion date, to report and pay the Capital Gains Tax.  
If no capital gain arises, there is nothing to report.
You can keep a copy of the calculation on your computer for future reference.
Thank you. 

Hi HALE,
Yes, you would need to decalre the untaxed bank interest as well.
On the Self Assessment you are declaring your income for that tax year and you need to inlcude any income that has already been submitted to HMRC for example employment pay and tax or bank/building societies interest. 
Thank you. 

Hi xxx,
The payment is taxed when paid to you.
If the payment was received after 5 April 2024 then will be taxed in the 2024/25 tax year. 
Thank you. 

Hi forest,
If you submitted your Self Assessment online then you can check on your online account to check it's been received.
You can also contact HMRC to review:
Self Assessment: general enquiries
Thank you. 

Hi Jordt21 Todd,
HMRC cannot comment on future events as legislation and/or plans may change.
For current guidance, please refer to:
Tax when you sell property
Thank you. 

 

Hi Michael,
From your question it would be the Higher Income Child Benefit Charge, HICBC, that is the criteria for Self Assessment.
You can check if you meet the criteria here:
Check if you need to send a Self Assessment tax return
It would be the figure in box 1.
If you pay into a company pension and the contributions are deducted before the tax is calculated then this will already have been taken into account in the box 1 figure.  
Thank you. 

Hi AD Dallison,
In this case you would need to contact HMRC to review/update your record and tax code:
Income Tax: general enquiries
Thank you.