HMRC Admin 25 Response

Hi Simi Amselem,
For us to confirm receipt of payment, please contact us by webchat or phone here:
Income Tax: general enquiries
We can then review your payment account.
Thank you. 

Hi ian renwick,
Though there may be other explanations here, it could be that your code is misinterpreting your one-off lump sum as regular income, and calculating a higher rate deduction as a result.
Please contact us by webchat or phone here:
Income Tax: general enquiries
We can update your projected income and code accordingly, and advise on any repayments due.
Thank you. 

Hi Swat01,
Whether you paid the correct amount of tax depends on which of these employments you had your tax free allowances allocated to.
We can review this for you, update if necessary, and advise on any repayments due.
Please contact us by webchat or post here:
Income Tax: general enquiries
Thank you. 

Hi V Khandekar,
If you only receive income from savings interest, your £12570 of tax free allowances will be applied against this first.
The maximum Savings allowance of £5000 will then be applied (as there are no wages or pension income to reduce this Savings allowance).
As a result, if your annual savings interest income is £15000, no tax will be due on this savings income.
Thank you. 

 

Hi doctornish,
If you need confirmation of a specific tax code issued and don't have a copy of the corresponding P2, contact us by webchat or post here:
Income Tax: general enquiries
Thank you. 
 

Hi bqiao,
You would divide the £700 (or whatever you paid into your pension scheme) by 80, then multiply that figure by 100.
This will give you your net payment, plus basic rate tax relief.
On submitting your return, we will automatically calculate the additional, Higher Rate relief due.
Thank you. 
 

Hi jessica leeman,
As the balance is higher than higher Income Chid Benefit Charge we will need to access your record to review the calculation.
You can contact HMRC here:
Self Assessment: general enquiries
Thank you. 

Hi Ingrid,
You may be being asked to use the new UTR provided following issues with your old SA record.
If this isn't explained in the letter confirming your new UTR, please contact us by webchat or phone here:
Self Assessment: general enquiries
Thank you.
 

Hi Jean Paul,
HMRC cannot comment on hypothetical scanrios.
Please refer to guidance here: 
Shares and Capital Gains Tax (Self Assessment helpsheet HS284)
Capital Gains Tax, share reorganisations and company takeovers (Self Assessment helpsheet HS285)
For more definitve answers you would need to contact us by phone here:
Self Assessment: general enquiries
Or speak to a financial adviser.
Thank you. 
 

Hi Brent Sandiford,
If the company pays out cash dividends, you will owe taxes on those payments even if you decide to reinvest the cash received.
If however, the company reinvests your dividends to purchase additional shares, you will not owe taxes until you sell those shares. 
At that point, you will pay Capital Gains Taxes on the difference between the price you paid for the shares and the price you sold them for.                  Any income tax already paid is not an allowable expense when working out Capital Gains Tax. 
Thank you.