HMRC Admin 25 Response

Hi michelle0603,
You need to ensure you are registered to pay Class2 National Insurance for this to show on your account.
You may have just registered for Self assessment and not self employment.
Self-employed National Insurance rates
Thank you. 

Hi martin lawson,
If the increase is due to you selling shares then only the annual exempt amount of £6000 is tax free.
Whether you withdraw or not is irrelevant if the shares have been sold as the gain still needs to be reported.
Please see guidance here:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. 

Hi Patrick Lee,
Yes, you need to report this and you can claim Foreign Tax Credit Relief for the US tax paid.
Please see guidance here:
Tax on foreign income
Thank you. 

Hi Gishan Don Ranasinghe,
Please use the dividend amount in your personal tax return that matches the dividends from the limited companies tax year.
Both cover a 12 monh period.
Thank you. 

Hi Mike Hughes,
As long as the partnership continues to exist, the SA800, should continue to be submitted with the same partnership UTR number, by the nominated partner.
If the nominated partner has changed, this will need to be confirmed to HMRC in writing for the tax return to be accepted.
If the partners choose to disolve the partnership and create a new one, a new partnership UTR will be required.
Thank you. 

 

Hi Nick O'Neill,
The AP1 form is a land registry form.
Please have a look at the guidance here for guidance on these sections.
Guidance: completing form AP1
If you have any further questions relating to this matter, please contact HM Land Registry. 
https://www.gov.uk/government/organisations/land-registry
Thank you. 

 

Hi S E,
As a UK resident, your employment income from your Swiss employer, is taxable in the UK, under the tax treaty in place.
If you have paid any tax on this income in Switzerland, you will need to claim it back from their tax authority.
From a UK perspective, this income is foreign employment income and should be declared in a self assessment tax return.
Self assessment will calculate any income tax payable.
For National Insurance, you would need to contact the NIC helpline on 0300 200 3500 Monday to Friday: 8am to 6pm Closed on Saturdays, Sundays and Bank Holidays.
National Insurance: general enquiries
Thank you. 

Hi philipn,
Crypto currency is an asset, just like any other and as such, is taxable.
Gifting crypto currency to your children or anyone other than your spouse or civil partner, may result in  you generating a capital gain on their disposal.
There are also inheritance tax implications, should you die within 7 years of the transfer.
Please have a look here for more information:
Capital Gains Tax
Inheritance Tax
Thank you.

 

Hi JamesMay75,
As there are no tax implications from the transfer of assets between spouses and civil partners.
You would note the transfer at the acquistion costs, as when your wife decides to sell them.
She would use the acquistion costs in her capital gains calculation.
Thank you. 

Hi seb101,
Sorry the answer is no.
 As an employee, there are strict rules on what your employer is allowed to provide for subsistence expenses.
Anything over and above this that you spend is either out of your own pocket or if it is provided by your employer, is subject to tax and NIC.
Have a look at EIM30240:
EIM30240 - Exemption for amounts which would otherwise be deductible: payments at a benchmark rate
Thank you.