HMRC Admin 25 Response

Hi sb3502,
If you do not pay Income Tax, you still automatically get tax relief at 20% on the first £2,880 you pay into a pension each tax year (6 April to 5 April) if both of the following apply to you.
You do not pay Income Tax, for example because you’re on a low income and your pension provider claims tax relief for you at a rate of 20% (relief at source).
Tax on your private pension contributions
As your pension provided has not claimed tax relief, no relief is due.
You will need to take this up with your pension provider.
Thank you. 

Hi gbforum,
You can each put a maximum of £20000 into an ISA in one tax year.
Thank you. 

Hi John999 L,
You will  need to notify HMRC using the form P85, whcih can be found here:
Get your Income Tax right if you're leaving the UK (P85)
Thank you. 

Hi Joepixxy,
You will need to register for Self Assessment, as self employed.
Working for yourself
You would complete a Self Assessment tax return to declare the gross profit from your youtube channel, in SA103 (self employed information) and claim expenses for the wages paid out etc.
 You would then be liable to tax / National Insurance on the business  net profit.
Expenses if you're self-employed
Thank you. 
 

Hi Charlie Chatz,
The message "IMPORTANT: Please check the help on the 'Loss brought forward' field and review the figure entered in this box" is a warning.
It is not an error, but it is asking you to take another look at the figure of £893 entered and is asking your to check this is the correct figure.
If you click on save and continue after receiving the message, your loss figure will be accepted and you will move to the next section.
Thank you, 


 

Hi Trevor Baker,
No,you cannot open two cash ISas in the same tax year.
You can have more than one cash ISA, provided they were opened in different tax years.
Thank you. 
 

Hi Rachel,
You can only submit a commercial tax return, if you can verify your identity, to obtain a government gateway user ID and password.
Once you have that, you can buy a commercial tax return that include the residence section and submit the tax return in its entirity, online, before 31 January 2024.
A list of commercial suppliers can be found at:
Self Assessment commercial software suppliers
If you cannot verify your identity, you cannot use this process and instead, you will need to dowload a paper tax return and supplementary pages.
Fill them out and post them to HMRC.
The due date for paper tax returns was 31 October, so a late filing penalty would apply.
Self Assessment tax return forms
Penalties can be appeal on form SA370:
Self Assessment: appeal against penalties for late filing and late payment
Once hmrc have your tax return.
Thank you. 

Hi Rachel,
You must register for Self Assessment by 5 October if you need to complete a Self Assessment tax return and have not sent one before.
You may incur a penalty if you do not.
It is still possible to register for Self Assessment after 5 October, but you may incur a penalty .
Check how to register for Self Assessment
Penalties
Thank you. 

Hi zeynepde,
Yes, it is likely that you will have some Capital Gains Tax to pay on this disposal.
You would need to obtain the market value of the property at the time it was gifted to you and covert it to pounds sterling, using an exchange rate that applied at the time of the gift being made.
You would also need to covert the disposal value to pounds sterling and deduct from this, the market value and selling costs.
If the disposal value is more than the market value and selling costs, there is a capital gain and tax may be payable.
This would be reported in a Self Assessment tax return in SA108 and SA106.
 The exchange rate is not set in stone, which is why you have a choice.
 Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.
 Exchange rates from HMRC in CSV and XML format
Is just one option you could use.
Thank you, 

Hi User 907,
Yes, you can create a new cash ISA and transfer funds from one to another, up to the maximum £20000, minus what you have already paid into the first ISA in the tax year.
Thank you.