HMRC Admin 25 Response
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RE: Capital Gain and foreign dividend - Use of exchange rates
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RE:Two Stocks & Shares ISAs
Hi ELAtiVer,
As you have not paid into the old ISA, yes you can open a new one and both will remain tax free.
Thank you. -
RE: CGT tax
Hi njc23
You would not be entitled to Private Residence Relief for the whole period of ownership as you have not lived in it the whole time so it is possible that a gain may arise and be liable to tax.
Please see guidance here:
Private Residence Relief (Self Assessment helpsheet HS283)
Thank you. -
PAYE National insurance underpayment
Hi Adam89,
No this cannot be recovered via Self Assessment.
You will need to contact the National Insurance helpline on 0300 200 3500, for advice on this matter.
National Insurance: general enquiries
Thank you.
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RE:Donations to Charity - are they tax deductible
Hi snoop dogg,
If you have donated money to a registered charity or Community Amateur Sports Club (CASC) and if you are a higher rate taxpayer you can claim relief on the donations.
If you complete a Self Assessment tax return you can decalre the donations on the tax return.
If not in Self Assessment you will need to contact HMRC to review.:
Income Tax: general enquiries
Thank you. -
RE:Married Couple Joint Accounts
Hi Normany001,
1.Yes, you would declare 50% each for the dividend income.
2.Yes, you can total each country to declare on a spreadsheet which you will keep as part of your records.
Thank you. -
RE:Income paid in crypto - calculating GBP value
Hi robert lea,
Please refer to on how to value the crypto. if selling straight away this would be seen as capital gains and fees would be deductable against the gain.
CRYPTO23000 - Cryptoassets for individuals: valuation
Thank you. -
RE:Capital allowances on cars
Hi craigthompson19,
Only if you purchase the car in the tax year that you are in fact self employed.
Thank you. -
RE:Early Redemption Fee
Hi Stephen Dobb,
You cannot claim this as an expense so there is nowhere to declare it.
Thank you
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RE: Working for a US Company
Hi Davo1975,
You do not need an umbrella complany to work as an employee of an overseas company in the UK.
If you work for a non UK employer, you will be in receipt of overseas employment income and this would need to be declared in SA102 and SA106 of a Self Assessment tax return, so that UK tax can be calculated on the employment income.
Thank you.