HMRC Admin 25 Response

Hi Harish Saini,
You can register for Self Assessment and your UTR here.
Check how to register for Self Assessment
Thank you. 

Hi Jayne Hearts,
While you can't defer your payments on account, we may be able to offer alternative ways to pay, including payment plans, if you're finding it difficult to pay by the due date.
Contact our Debt Management team on 0300 200 3820 to discuss your options.
Thank you. 

Hi groucho123,
The correspondance you've sent so far may still be being processed.
If you'd like us to review the progress of this correspondance, or give specific advice on your capital gains submissions and how they should be recorded, please contact us by webchat or post here:
Self Assessment: general enquiries 
Thank you.


 

Hi spoovy,
We are unable to review personal matters in this forum.
 For an answer to a personal question of this nature, you would need to contact our Self Assesment helpline on 0300 200 3310 or contact our webchat facility here:
Self Assessment: general enquiries
Thank you. 

Hi Melinda McKee,
As you have not stated what type of income that the losses are for, we cannot give you a definitive answer on how to amend your tax return.
Thank you. 

Hi Matthew,
If you sell the shares immediately upon vesting, there is no Capital Gains Tax to pay.
This ensures that there is no gain to tax.
If you hold on to them and sell then sell at a later date, there could be Capital Gains Tax liability.
Thank you. 
 

Hi myshkat,
If it is, you will need to obtain the market value of the property when it was gifted to you
This value and your disposal costs will be deducted from the disposal value, to realise the gain.
There is a calculator at to help with this:
Tax when you sell property
If a gain arises, you have 60 days from the completion date to report and pay the Capital Gains Tax, otherwise you will incur penalties and interest.
If this is an overseas property, you may have a Capital Gains Tax to pay, if your disposed of the property for more than its market value at the time your acquired it.
You will have to work out if a gain arises, by converting the value of the property when you inherited it from the currency of the country to pounds sterling, using an exchange rate at that time.
You will also need to do this with the disposal value and your costs.
Thank you. 

Hi Matt Huntt,
You will need to change the answer to no for the student loan as it won't take into account payments from 23/24 on the return.
Thank you. 

Hi Tel_Quelun,
No you don't need to show these on the P85.
This is more for any continuing source of UK income that you may have to determine if you need a tax return.
Thank you. 

 

Hi williamblack,
Your employer will have calulcated the tax due on your income based on the code for the year.
By the sounds of things, you have had the benefit of full personal allowances for the year when not due.
This extra allowances result in tax due at 40%.
You would also need to check what other allowances and/or deductions were in your tax code#.
Thank you.