HMRC Admin 25 Response

Hi Dave Lumby,
Capital gains will be due if the value has increased since it was transferred to you in 1992.
The value at that time is classed as your purchase price (50%) 
Thank you. 

Hi death_and_taxes death_and_taxes,
We cannot comment on future events but based on current postal timescales you are broadly correct.
Thank you. 

Hi zontes,
Guidance on how to complete your return is here:
How to complete your tax return for Self Assessment
Also each additional section has its own set of notes to help:
Self Assessment tax return forms
Thank you. 

Hi William Croome,
No matter the expenses, the gain is below the annual exempt amount of £6000 for the year so no capital gains is due.
Thank you. 

Hi njc23,
Please refer to:
Understand your Self Assessment tax bill
Thank you. 
 

Hi PeterRabbit,
This may be down to the the beneficial ordering of your income as your other income is not fully utilising the personal allowances and/or other rate bands.
Thank you. 

Hi NedFlanders,
If payments are less then £10,000 you can contact the Self Assessment helpine to have your tax record updated.
IF you need to write in with evidence please send to:
HMRC PAYE & Self Assessment BX9 1AS
Thank you. 


 

Hi Barbara,
Please refer to:
Claim tax relief for your job expenses
Thank you. 

 

Hi emil Amor,
You are correct.
As it is for the 23/24 tax year, you can use:
Income Tax
To see if a refund is in fact due.
Thank you, 
 

Hi Pidge0123,
As the payment is made in March, this is the end of the tax year and the tax deducted will be based on the whole years income and as such the tax rate would be 40%
Thank you.