HMRC Admin 25 Response

Hi Mr Fragrance,
This would be classed as pre trading expenditure.
See guidance at:
bim60660 - Pre-trading expenses – Overview
Thank you. 

Hi Soying,
Jersey is not part of UK mainland for this and as such this is not UK income.
Thank you. 
 

Hi Mp2589,
Please refer:
Individual Savings Accounts (ISAs)
Thank you. 
 

Hi Tax20,
You would need to contact the IHT helpline on 0300 123 1072 for this.
Thank you. 
 

Hi Steve Fernback,
Please refer to:
VCM15010 - EIS: income tax relief: withdrawal or reduction of EIS relief: overview.
This states that 'The legislation provides for the complete withdrawal of any (EIS) relief attributable to shares if, by reason of some event, any of the conditions for the relief ceases to be satisfied.' When the gifting to the daughter was made, at least one of those conditions for relief was clearly breached and the income tax relief was withdrawn.
From that point, EIS relief was no longer attributable to the shares.
Thank you. 

Hi titelalex972,
With your bonus being paid in your last wage of the tax year, you will most likely only be charged the 40% rate on the £546 you ultimately earned at the higher rate.
If you are overtaxed on your earnings, though, you would receive this back shortly after April, when we reconcile your pay and tax for the year.
Thank you. 

Hi Bjn201,
If the contract is between the employer and the insurance company the full cost to the employer is reported on the P11d.
f the employee has the contract and the employer pays this it is added to section B of the P11D for tax and the amount is added to the employees salary for National insurance.
Thank you. 

Hi Paul Mburu,
Please phone the employers helpline on 0300 200 3200 as we would need to discuss in more detail before giving an answer.
Employers: general enquiries
Thank you. 

Hi fostert48,
Please refer to:
TSEM9520 - Ownership and income tax: express trusts - written declaration
For details on how to make a written declaration of trust.
Mortgage relief can only  be claimed by the person whose name the mortgage is in, if your wife gives you 100% share as a beneficiary they are no longer a beneficiary of the rental income and no-one can claim mortgage tax relief.
For properties that are jointly owned a change in beneficial interest can be made on Form 17, please refer to:
TSEM9800 - Property held jointly by married couples or civil partners: contents
And onwards.
Thank you. 

 

Hi Edmond Lee,
 As you have stated that you are not in receipt of any rental income arising from the overseas property then this does not need to be declared to HMRC.
If your circumstances change i.e. you start to receive income and you become a beneficiary once the administrator passes away we suggest you get in touch with us at that time.  
Thank you.