HMRC Admin 25 Response

Hi Michael Norton,
Based on the information provided it appears that the hotel is a permanent workplace.
Any travel expenses incurred (including accommodation) are ordinary commuting and are not allowable as a deduction.
Please have a look at EIM31800:
EIM31800 - Deductions: travel expenses: general: contents
And EIM32000 - Travel expenses: travel for necessary attendance: contents
EIM32000 - Travel expenses: travel for necessary attendance: contents.
Thank you. 

 

Hi mrflibble,
Shares in an ISA are not subject to capital gains tax or capital gains losses.
If your shares are in the ISA at the time the company goes into receivership, you cannot claim for any losses on the shares.
Your ISA provider is advising that you remove the shares from the ISA, so that they are subject to capital gains and you can claim for capital gains losses.
Thank you. 
 

Hi Vnfwg33d,
If the ISA is a flexible ISA, you can return the money back into the ISA and not impact your £20000 allowance.
If you take the money out of the ISA and place in another ISA, this will be part of the £20000 that you can save each year.
Please have a look at the guidance here:
Individual Savings Accounts (ISAs)
Thank you. 

 

Hi LeaLcg,
No, unfortunately, you are not able to do that.
You have the choice of claiming the property income allowance of £1000 or claiming expenses.
You cannot carry expenses forward into another tax year.
You can only claim the expenses in the tax year that they arise.
If this means that your expenses are greater than your property income, you have made a loss.
You can carry forward the loss into a future tax year and set it against a profit in a future tax year.
As your gross profit is over £1000, you meet the criteria for completing a Self Assessment tax return.
If you are not registered for Self Assessment yet, you can do so here:
Check how to register for Self Assessment
Thank you. 

 

Hi Amanda Lewis,
Receiving an income from property of more than £1000 per year, is criteria for completing a Self Assessment tax return (SA100) for each tax year that you rent the property out.
You would also complete the supplementary page SA105 (property) in which you would declare your gross income from letting the property, tax deducted by the letting agent and other expenses you incurred.
You would also declare all other sources of income on the tax return, using the other supplementary pages as required.
If the property is jointly owned by you and your spouse or civil partner, you both need to complete individual tax returns and claim 50% of the profit, expenses and tax deducted.
If you are not already registered for Self Assessment, you can do this ahere:
Check how to register for Self Assessment
If you have been letting out the propery for a number of previous tax years, you may wish to consider contacting the let property campaign at Let Property Campaign
Thank you. 

Hi Lucy68 Neville,
Though the allocation of your payment and updating of your code would usually only take around 14 days, it does depend on how you've made your payment.
To allow us to confirm receipt of your payment and give a timescale for it's allocation, please contact us by webchat or phone here:
Income Tax: general enquiries
Thank you. 

 

Hi AndyB,
Please include the sum of all one-off payments made, without including any additional tax relief.
Thank you. 

 

Hi Spencer Lewis,
Dividends are taxable in the UK at the following rates Basci rate 8.75%, higher rate 33.75% and additional rate 39.35%.
Please have a look here:
Tax on dividends
If you require a more personal answer, you would need to contact our Self Assesment helpline on 0300 200 3310 or contact our webchat facility here:
Contact HMRC
Thank you. 

Hi Edward,
If completing a Self Assessment tax return, the payment, from your employer, should be shown in the employment section if it is included in your P60.
You would then claim credit for the Tax in the foreign section under 'Employment, self-employment and other income if you paid foreign tax on it'.
If it's not included in your P60, please include it on the box on the employment page for 'Tips and other payments not included on your P60'. ERSM20193 advises that when RSUs payout at the market value on what is called "dividend equivalents" in either cash or shares.
Such payments will generally be taxed as earnings in the year they are received.
ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents.
Please use your P60 figures and do not alter with the figures, as they will then not match the figures your employer submits to HMRC.
As your employer is taxing the RSU in the next tax year, they will appear in the following tax year return.
If you sell the shares immediately upon vesting, there is no gain to tax to pay.
 If you hold on to them and dispose of them at a later date, there may be capital gains tax to pay.
Thank you. 

Hi John Knight,
Please have a look at the guidance here:
Individual Savings Accounts (ISAs)
Thank you.