HMRC Admin 25 Response

Hi Capital10,
You can round up or round down to the whole pound.
Thank you. 


 

Hi Dave4471,
If your income is now below the higher rate tax band then your income details would need to be updated and as relief no longer due on your gift aid payments your tax code will be updated.
You can updated your estimated income online:
Personal tax account: sign in or set up
Or contact HMRC:
Income Tax: general enquiries
Thank you. 

Hi Vivien,
The capital gain annual exemption is now reduced to £3000 for 24/25.
For indexation, please refer to:
CG17200 - Indexation: inflation and CGT
The distributions are not part of the gain.
Thank you. 
 

Hi Bromley86,
If you have more than one home in the UK you should consider each of those homes separately to see if you meet the test.
You need only meet this test in relation to one of your UK homes.
Thank you. 
 

Hi Oldtim,
Sorry, we would need to know more details to answer.
If you contact HMRC:
Self Assessment: general enquiries
Thank you. 
 

Hi US UK TAX TREATY w-8ben form,
The form you refer to is an American form and you need to contact the US authorities on how to complete it.
Thank you.
 

Hi YMC,
No, a capital gain is based on the difference in the value of the asset at date of purchase and date of sale no matter what tax year.
The S104 rule is for multiple purchases in the same company:
Shares and Capital Gains Tax (Self Assessment helpsheet HS284)
Thank you. 
 

Hi Chappy,
You include the full amount of the invoice as part of your business turnover and then deduct the mileage as an expense.
Thank you. 


 

Hi Roy75 Williamson,
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
Tax on dividends
Thank you. 

Hi Alan Richey,
Please refer to the guidance here:
Marriage Allowance
Thank you.