HMRC Admin 25 Response

Hi suhail shaikh,
You can use the temporary admission relief, more details on below link:
How to apply
Thank you. 


 

Hi Muhammad Siddiqui,
Customs charges are applicable for gifts.
Gifts over £39 are liable to Import VAT.
Customs Duty also becomes payable if the value of the goods is over £135.
Customer needs to search on the trade tariff to check duty and vat rates.
Trade Tariff: look up commodity codes, duty and VAT rates
Thank you. 

Hi Con23,
Income tax and Capital Gains Tax are two separate taxes, that do not intermix.
Expenses set against income tax liability cannot be set against capital gains tax liability and allowances set against capital gains liability, cannot be set against income tax liability, in the majority of circumstances.
If you have submitted your tax returns and have not claimed your revenue expenses for Income Tax purposed or Capital Allowances for Capital Gains Tax puroposes, or need to change their values, then you can amend your tax returns.
You have 2 years from the due date of your tax return to amend it.  Eg. The 2021 to 2022 tax return can be amended up to 31 Janaury 2024.
 After this date, the 21/22 tax return is fixed as it is.
You then have a further 2 years, up to the end of the tax year to claim overpayment relief in writing.  eg. overpayment relief for the 2021 to 2022 tax return can be claimed from 31 January 2024 to 5 April 2026.
After 5 april 2026, you are tool late and any overpaid tax cannot be repaid.
Thank you. 

Hi Nancy A ,
You are not legally required to declare gifts to HMRC, that you receive.
But for Inheritance Tax purposes, there is a set of critieria that need to be considered for gifts that you make.
How Inheritance Tax works: thresholds, rules and allowances Skip to contents of guide Contents.
Thank you. 

Hi Kevinrv,
Where you pay £5000 into your pension scheme, after your income has been taxed at 40%.
Your pension provider will claim 20% on the £5000 payment, which is £1250 (£6250 * 80/100 = £5000).
In your tax return, you are claiming the remainder of the tax relief, so you enter the gross figure paid so far £6250.
Your basic rate band will be extended by this amount so that £6250 is only taxed at 20% and not 40%, giving a further £1250 tax relief.
The difference is that you will only have paid £6250 into your pension scheme, with the other £1250 tax relief used to reduce your tax liability or repaid directly to you.
The other person has had to pay £8333 into their pension, to claim 40% tax relief.
Thank you. 

Hi  sole_trader,
VAT payment you receive, are declared in the gross profits as part of the turnover.
VAT paid out to the VAT office, is declared as an expenses in the self employment, box 30 (SA103F).
If you have submitted your tax return, you would need to amend box 30 to reduce expenses deducted and account for the VAT refunded.
If you have not yet submitted your return, you would show the net VAT amount in box 30.
Thank you. 
 

Hi constancew,
Have a look at the Self Assessment criteria tool at:
https://www.gov.uk/check-if-you-need-tax-return.
If your UK savings and investments income is over £10000.00 in the tax year, then yes, you need to complete at tax return, even if is disregarded income.
You would need to declare your interest on SA100 and that you are not UK resident and claiming personal allowances on SA109, so that your interest is treated as disregarded income.
Thank you. 

Hi TC55,
The online Self Assessment tax return, is able to work out the relief available for each type of overseas income, as permitted by the double taxation agreement between the UK and the relevant country.
If you are completing a paper tax return, you can ask HMRC to calculate this for you or calculate it yourself, using helpsheet HS263.
Relief for foreign tax paid (Self Assessment helpsheet HS263)
Thank you. 

Hi edmund,
If your Private Residence Relief covers the gain on the disposal of your home, then you do not need to report this in your tax return.
Thank you. 

Hi John Smith,
It is only at withdrawal that liability to tax would occur.
Gains within the RRSP, would not be subject to UK tax.
Thank you.