HMRC Admin 25 Response

Hi GSB,
There may be additional allowances present in your code, or the deduction from your state pension may be slightly lower than 11,500.
If you would like us to review your code, please contact us by webchat or phone here:
Income Tax: general enquiries
Thank you. 

Hi Vasililisa,
Please use the wedding date.
Thank you. 

Hi takula,
If you have had a figure for untaxed bank interest in your tax code, your tax-free allowances will have been reduced by that amount, and you will have paid a corresponding amount of extra tax.
When you then come to submit your Self Assessment return, include the amount of untaxed interest received for the year.
If the amount you include is the same as the amount that was present in your tax code, you will pay no additional tax on your untaxed interest, as any tax due will have been paid through your code.
If the amount is different, you will either be charged the difference or receive the difference back, depending on whether the amount you entered is higher or lower than the amount present in your code.
Thank you. 

 

Hi PATRICK VITTOZ,
This is largely to avoid confusuion with other reliefs.
However, if you believe having this information present when you receive your calculation would be useful, we will consider reviewing this at the next opportunity. 
Thank you. 

 

Hi Aziz El Hage,
The banks and building societies submit the untaxed interest details to HMRC after the tax year end.
Once received we will review the tax year and if underpaid a calculation will be issued with the details. 
Thank you. 


 

Hi Amrit,
Please refer to the guidance here:
VCM14130 - Venture Capital Schemes Manual: the Enterprise Investment Scheme: income tax relief: investor procedures: investor conditions to claim tax reliefs
HS341 Enterprise Investment Scheme — Income Tax relief (2024)
You should complete the claim forms enclosed with the EIS3 or EIS5 certificates and send them to us for the years that you did not complete Tax Returns and for the years that you have already completed returns, and failed to make a claim in those returns. 
Thank you
 

Hi C.K. Pun,
There are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Thank you. 
 

Hi DeanCyber,
When tailoring your online return, you would tick 'yes' to the question regarding employment and select '1' for your part time employment. You would also tick 'yes' to the self employment section and select '1' for your self employment income from Google Ireland.
The republic of Ireland is outside of the UK, so if you have to pay tax there, you would declare this in the foreign section of the tax return and claim a foreign tax credit (FTCR), by clicking 'yes' to foreign income.
If did not pay overseas tax, then you can omit the foreign section completely.
Your self employment income will need to be converted to pounds sterling before being included in your tax return.
Thank you. 

Hi Alisdair Fraser,
On a paper tax return (SA100) you can declare foreign dividends of up to £2000 in box 6 of page TR3 (Foreign dividends (up to £2,000) – the amount in sterling after foreign tax was taken off.
Do not include this amount in the ‘Foreign’ pages.
The online tax return will have a box entitled in the same way.
If you receive a 'warning' message, it is just Self Assessment bringing the entry to your attention.
It's really just asking your to take a second look at the entry, to ensure it is correct.
If it is,click on save and continue, to move to the next section.
If you receive an 'Error' message, then there is an issue with the entry in the box.
Thank you. 

Hi Weewillamena,
If you have to complete a Self Assessment tax return for any other reason and the disposal value is £50000 or more, you need to declare the disposal in the tax return.
You can only claim for loss relief up to 4 years after the end of the tax year the loss arises, after that it is too late to claim losses.
Thank you.