HMRC Admin 25 Response

Hi Den96912 low,
What you do with the proceeds from the sale of your house is up to you and the buying of a joint property is not for HMRC to decide.
For any potential IHT, the £325,000 is the total of 1 person estate and you now cannot combine your late wifes allowance as her estate would have passed to you at the time.
Thank you. 

Hi PJS,
 As you are not changing from Cash Basis to Accruals Basis the Transitional rules and guidance referred too would not apply.
Please refer to PM163090 & PM163160 which covers the continuance of a notional trade, which appears to apply in this case.
Whilst we understand the impact outlined in your query, we would suggest that it would be between the individual members of the partnership to take this event into consideration when agreeing the shares of profit/loss arising in the first years accounts of the partnership.
We cannot find anything else that would suggest a different process for declaring the income received by the sole trader under the Cash Basis regime.
PM163090 - Commencement and cessation
Thank you. 

      

 

Hi Kuldeep Singh,
For assistance you will need to contact the online helpdesk. 
Contact details here:
Technical support with HMRC online services
Thank you. 

Hi baerskimmason Mason,
I am sorry you are unable to get through to webchat.
You can contact HMRC Self Assessment helpline here:
Self Assessment: general enquiries
Thank you. 

Hi  baerskimmason Mason,
Yes webchat would be an option or it would be the Self Assessment line 0300 200 3310.
If possible the best time to call would be when the lines open in the morning at 8am. Open 8am to 6pm Monday to Friday. 
Thank you. 

Hi Bluebell74 Yes,
When your Self Assessment is processed if the balance due is more than £1000 and you pay less than 80% of your tax at source then payments on account are introduced for the next tax year:
Please see guidance here:
Understand your Self Assessment tax bill
Thank you. 
 

Hi Fraser Scott,
The is not suitable for this forum.
You may wish to call HMRC on the Agent Dedicated Line (ADL) if you are calling for a client.
Or contact HMRC on 0300 200 3310
Contact HMRC
Alternatively you can send in full details in writing.
Thank You

Hi wJaSyhM7Y4,
Please refer to:
How Inheritance Tax works: thresholds, rules and allowances
Or contact the IHT helpine on 0300 123 1072.
Thank you.  

Hi Keef62,
You can update HMRC with the bank interest using your personal tax account, or alternatively contact our Self Assessment helpline to speak to an adviser.
Personal tax account: sign in or set up
Self Assessment: general enquiries
Thank you.

Hi Dian Lu,
The excess payment will not attract the ISA relief and any interest or gain will be taxable.
HMRC will contact you in due course to advise.
Thank you.