HMRC Admin 25 Response

Hi Katharine B,
HMRC cannot comment on future events as legislation may change.
Thank you, 

Hi Tony,
This is for legislation to determine and cannot be answered on this forum.
Thank you. 

Hi Chandra1,
Please refer to:
CG14250 - Computation: Computation: date of disposal: importance and how to determine the date of disposal
Thank you. 

Hi luisgoncalves,
To help us advise you further, please contact our online services heldesk, here:
Technical support with HMRC online services
Thank you. 

Hi Tttttong,
Detail on the Government’s intended changes to the rules for non-domiciled individuals set out here Technical note: Changes to the taxation of non-UK domiciled individuals.  
Changes to the taxation of non-UK domiciled individuals 

HMRC is unable to provide any further detail on how these changes will apply to an individual’s personal circumstances at this time.
Policy Is still being written and may change. 

Hi Eloise Brown,
1.  Yes. The salary payment will constitute a repayment of part of the loan.
The original charge to s.455 tax is on the outstanding amount of a loan at the end of an accounting gperiod.
If all or part of the loan is later settled within nine months (not nine months and one day) from the end of the period, relief is due at that time a claim is made, and the charge to s.455 tax is reduced proportionately.
In your example, the charge would be on the £20,000 loan; but if the company were to claim relief on the £10,000 repayment at the same time it files its tax return, the charge to s.455 tax would be calculated only on the remaining £10,000.

2.  Yes. Relief can be claimed for repayments made after the end of the period in which the loan is made.
When relief is due, however, will depend on how long after the end of the accounting period that repayment is made.
Thank you. 
 

Hi uancw,
Please refer to CFM37130:
CFM37130 - Loan relationships: special types of security: gilt-edged securities: taxing indexed gilts
Any movements in the carrying value of an index-linked gilt-edged security are exempt from tax only to the extent that the movement relates to changes in the RPI.
This means that profit arising other than from RPI movement remains chargeable to tax.
Thank you. 
 

Hi ftaran,
Please refer to:
Capital allowances when you sell an asset
Thank you. 






 

Hi QuestionBuddy,
Please refer to:
Dormant companies and associations
​​​​​​​Thank you. 

Hi Greenshoots,
 We would need to refer you back to the relevant guidance you have provided:
VATFIN7600 - Intermediaries: independent financial advisors (IFAs)
It does clearly state that the supply is taxable at the standard rate of VAT
Thank you.