HMRC Admin 25 Response

Hi Pisces CHOY
if no dividend is paid out on the shares then there is no income to report.
If you then sell the shares and make a gain, you need to report this.
Please see guidance here:
Report and pay your Capital Gains Tax
This is based on current guidance only as we cannot comment on future events.
Thank you. 
 

Hi Youness,
Please refer to guidance here:
CG65660 - Private residence relief: dependent relative: sole residence
Thank you. 

 

Hi Peter Bradbury,
HMRC will require your organisation to register for Corporation tax and submit ian initial CT600 tax return.
But please also consider the guidance here:
Corporation Tax: trading and non-trading
Whilst the interest on your organsisations savings account is taxable this guidance will tell you the circumstances in which HMRC will consider your organisation as dormant.
If the criteria for dormancy have been met then please write to HMRC:
At Corporation Tax Services
HM Revenue and Customs  BX9 1AX
To change the status of your Corporation Tax record.
Thank you. 
 

Hi Gareth Griffiths,
Please refer to guidance here:
CG65660 - Private residence relief: dependent relative: sole residence
Thank you. 
 

Hi Rennie,
This part is used to establish how much of your earnings is subject to which bracket because over the UEL would be subject to a different NI percentage.
So you would take your total earnings - the LEL for the year and put this into at the LEL.
Then take the reminaing amount and enter this into above the LEL up to the PT.
As you have not earnt over the ST you would put 0s into the over PT to UEL.
Thank you. 

Hi Barry McQuillan,
 Sorry, but we will reqquire more information to answer your question.
Please call the employers helpline on 0300 200 3200 and we can discuss this with you. 
Employers: general enquiries
Thank you. 

Hi SteveSKLandscapes,
You would need to setup a new PAYE scheme for the LTD company,then you would make the employees leavers from the sole trader scheme and new starters on the LTD scheme.
You may also wish to look like TUPE, which would allow the employees to keep continuous employments between the 2.
You can find information on this by here:
Business transfers, takeovers and TUPE
Thank you. 

Hi Suzanne Russell,
Your parents will need to register as an employer to pay you so that this is then under PAYE and on your record.
Please see guidance here:
Register as an employer
Thank you. 
 

Hi John Foster,
This would normally be a tax rate of 20% for basic rate
Please guidance here:
Income Tax rates and Personal Allowances
Thank you. 

Hi Tomqruz,
Please contact our Helpline on 03002003700 so that we can look in to your account and investigate what has happened.
VAT: general enquiries
Thank you.