HMRC Admin 25 Response

Hi foxyfoxglove,
Strictly speaking, as the return is for 22/23 income and the loan is not settled.
You should still be ticking the box.
Any settlement you then make should take into account the additional tax due from 22/23.
Thank you. 

Hi Sheldon,
As in year losses are used first, even if that means you lose out on the annual exempt allowance, then your losses in this scenario are £36172.
Thank you. 
 

Hi mountainsandhills,
As UK resdient, you need to report your worldwide income here irrespective of whether it has  been taxed abroad.
You need to show foreign income in a tax return.
Tax on foreign income
Thank you. 

 

Hi Sapphire18,
As you meet the conditions at:
CG15180 - Expenditure: enhancement expenditure
Yes, these are allowable.
Thank you. 

Hi shof34321,
No, as from what you have stated it was an in year adjustment and not taxed owed from an ealrier year.
Thank you. 


 

Hi biscuitsfrogs,
Yes you can deduct these as expenses.
You just need to show the full payment (before fees) as income received in order to claim the fee as an expense.
Thank you. 

 

Hi clc3101,
No, cash gifts are not taxable income.
Thank you. 

Hi stringy,
It is one trading allowance of £1000 only no matter how many self employments you have.
Further guidance is here:
Tax-free allowances on property and trading income
Thank you. 

Hi Gary C,
For residents in Germany, commencing a UK State pension before 30 December 2010, they qualify for tax relief in the UK, meaning the State Pension would not be taxable in the UK.
If the State Pension commenced after that date, then  no relief is due and the State Pension is taxable in the UK.
As the double taxation agreements the UK has in place with other countries are not identical, each agreement should be reviewed on every situation.
Thank you. 
 

Hi kcsekcse,
It will be the actual gain as the losses are then taken into account when working out the taxable gain.
The same applies to box 50.1.
There should be no entry in box 51 as in year losses should be declared in the section to which they refer (see boxes 7,19,27,35) and will automatcially be used.
Losses from previous years that are now being used should be shown at box 45.
Thank you.