HMRC Admin 25 Response

Hi Joe8888,
The split year basis would commence on the date you arrived in the UK, as that will be your first day of residence in the UK.
If your employment commences before that date, it will be in a period that you are not UK resident.
If you have already paid tax on the savings you send to your wife, then there will not no tax liability.
If you have to complete a tax return for other reasons, you would still declare your UK interest and UK dividends on the tax return.
Thank you. 

Hi N,
Please have a look at the guidance here:
PTM041000 - Contributions: essential principles
For the deemed date of contributions.
Thank you. 

Hi Robert Oakley,
Please refer to guidance here:
Trusts and taxes
Thank you. 

Hi Skinny Ant,
The 3 year carry forward refers to the 3 years prior to the tax year that you exceed the annual allowance.
Please see guidance here:
Tax on your private pension contributions

Hi VixM,
Please have a look at:
Register or update your money laundering supervision with HMRC.
This is not an area we can provide advice on.
Thank you. 

Hi Louise Brockbank,
Yes, only if you are married or civil partners, can you transfer assets between spouses or civil partners and there be no capital gains liability.
The share that you would give to your partner, would be subject to Capital Gains Tax liability.
As the property was your main residence for a period of time, you will be entitled to some Private Residence Relief, which would reduce the amount of gain tax would be payable on.
Have a look at helpsheet HS283 at:
HS283 Private Residence Relief (2023)
for more information.
There is guidance and a calculator at:
Tax when you sell property Skip to contents of guide Contents
To help you work out your gain.
Capital Gains Tax on residential property and land needs to be reported and paid within 60 days of the completion date.
At the end of the calculator, you can register for an online capital gains account, which you can use to report and pay the tax due.
Penalties and interest apply to late filing and late payments of tax.
Thank you. 

Hi Vejovis,
The person or persons named on the policy are the ones who would declare the chargeable event gain, even if more than one person is a beneficiary.
Thank you. 
 

Hi Keith7819,
You are correct.
Please note though, disposal proceeds of more than £50,000 need to be reported even when the gain is below the annual exempt amount.
For 24/25 the annual exempt amount is reduced to £3000.
Thank you. 

Hi UK-Resident-dz,
Tax if you leave the UK to live abroad
You should complete form P85 when leaving the UK or a complete a Self Assessment if you complete Tax returns. 
Thank you. 


 

Hi Hurricane75,
You can claim Higher Rate Tax Relief, which will give you a further 20% tax relief.
You reduce your net adjusted income by the goss payments made to your pension scheme, wich would reduce your income by £25000.
Thank you.