HMRC Admin 25 Response
-
RE:Interest on Children's savings account
Hi Nella,
Please have a look at the guidance here
Interest on savings for children
It advises that the parent will have to pay tax on the childs interest if the child's interest is more than £100 and it takes the parent over their personal savings allowance.
This rule is applied on a tax year basis, each year.
Thank you. -
RE:Foreign currency - USD/GBP
Hi T Yeung
Currency other than sterling is a chargeable asset and its disposal can give rise to a chargeable gain or an allowable loss, but Capital Gains Tax on foreign currency depends on the situation.
Capital gains arising on withdrawals of money from a foreign currency bank account will not be liabile to Capital Gains Tax.
It stands to reason that capital losses would not be allowed.
Please have a look at the guidance here:
CG78300 onwards.
CG78300 - Foreign currency: introduction
Thank you. -
Re:Capital gains form
Hi Colin808,
If she has lived in the property for the whole period of ownership then no Capital Gains Tax is due.
Thank you. -
RE: Foreign capital gain
Hi Duarte,
You can claim Foreign Tax Credit Relief for the Portuguese tax paid to reduce the UK tax liability.
Guidance here:
Relief for Foreign Tax Paid 2023 (HS263) Updated 6 April 2023
Thank you. -
RE:CGT on exchange or completion?.
-
RE: Self Assessment and Class 2 NI
Hi JRT26,
You will need to contact the NI helpline, their telephone number is 0300 200 3500.
National Insurance: general enquiries
As you will need a different 18 digit reference number.
We would advise also you to the Future Pension Centre (FPC) on 0800 731 0175 before you call the NI Helpline as you will need to know which years you would like to pay.
Contact the Future Pension Centre
Thank you. -
RE:Server error when accessing outstanding submissions
Hi Tomas Loucky,
We assume this is regarding the Basic PAYE tools software.
If so then yes, contact to the helpdesk would be required for some checks to be made and a case raised for investigation of the issue.
Please comtact us here:
Technical support with HMRC online services
Thank you. -
RE:Awaiting payment correspondence from HMRC for Class 2 voluntary contributions - overseas
Hi tonias,
As you have advised that the annual request for payment for voluntary Class 2 National Insurance contributions was issued to you for the 2022-2023 tax year, we can confirm that you may pay this without actually having the request.
If you wish to pay for the 2022-2023 tax year then the amount required is £163.80 and details of our bank details and reference number to use can be found here:
Pay Class 2 National Insurance if you do not pay through Self Assessment
Thank you.
-
RE:Saving interest
Hi Springday613,
You can check if you need to complete a Self Assessment tax return here:
Check if you need to send a Self Assessment tax return
Thank you. -
RE: Self Assessment-Underpaid tax included in PAYE coding
Hi George Ka,
We would need to review your record to check this.
You can contact HMRC here:
Self Assessment: general enquiries
Thank you.