HMRC Admin 25 Response

Hi CatLagerfeld,
Pease see:
HS227 Losses (2023)
Any losses in tax year 2020-21 should be set against the next available profit.
If you made a profit in 2021-22 then your loss should have been offset against this year.
As it is now too late for you to amend your 2021-22 Self Assessment return online you can write to us and ask us to amend it for you.
Please see Self Assessment tax returns:
Self Assessment tax returns
Thank you. 



 

Hi Penda Sisopha,
You cannot open 2 cash ISAs in the same tax year.
You can open 1 new cash ISA every year if you want.
You can transfer the contents of an existing cash ISA to a new cash ISA, so long as they were opened in separate tax years.
You should speak to your ISA provider for more detailed advice.
Thank you. 

Hi Paolo Casaschi,
Please see Individual Savings Accounts:
Individual Savings Accounts: increasing flexibility for savers Updated 17 February 2016
Please refer to the telephone number or email address provided under the further advice section if this does not answer you query.
Thank you. 

Hi Caroline Robinson,
As we are dealing with a pension, you would need to submit a completed, signed and dated DT individual form to the UAE tax authorities, for validation, since you were resident in the UAE at the time the pension payment was made.
The UAE tax authorities will return the validated form to you for onward transmission to HMRC (the address is on the form).
The form can be found here:
Double Taxation: Treaty Relief (Form DT-Individual)
With the validated form, HMRC can refund any tax that is overpaid.
Thank you. 

Hi o101,
Please refer to:
CRYPTO22500 - Cryptoassets for individuals: Capital Gains Tax: S24 and negligible value
For information on making a negligible value claim if the platforms have gone bankrupt.
If he receives a capital sum back at a later date, he will be treated as having made a disposal for CG purposes.
Please refer to:
CG12940 - Capital sums derived from assets: s22 TCGA92
CG12945 - Capital sums derived from assets: s22 TCGA92: the charge to tax
It doesn't matter how it's paid to you, it will still be a capital sum received.
Thank you. 

Hi Failiu,
It's unlikely a penalty will becharged but you may be charged interest for late payment.
Thank you. 

Hi Valerie Heslot,
Restricted Stock Units, is a way for employers to provide incentives to employees over the long term.
As the payment is from your employer, the income 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 which you paid foreign tax on'.
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
Thank you. 

Hi S0787571,
Mortgage interest can still be claimed in full for furnished holiday lets.
The 50/50 rule does not apply to furnished holiday lettings as this is earned income.
Please refer to TSEM9820 - Property held jointly by married couples or civil partners: The 50/50 rule:
PIM4105 - Furnished holiday lettings: overview
Please note you should use the “other allowable property expenses” box for items which you are unable to categorise into the boxes available.
Thank you. 

 

Hi James721,
We cannot confirm whether you have Capital Gains Tax to pay or not.
You need to work this out yourself.
Private residence relief will relieve the gain accruing on the disposal of a dwelling-house to the extent that, during their period of ownership, it has been used as its owner’s only or main residence.
You will need to check the guidance for private residence relief and periods of absence, to confirm if you qualify.
Please have a look at:
CG65046 - Private residence relief: periods of absence: conditions
Please have a look at:
HS283 Private Residence Relief (2023) Updated 6 December 2023
For private residence relief, to help work out the relief that can be claimed.
Thank you. 
 

Hi ABCXYZ,
Please refer to guidance at Expenses and benefits:
Expenses and benefits: relocation costs
To see what conditions apply to you and then discuss with your employer(s).
Thank you.