HMRC Admin 25 Response

Hi Roanna,
Please refer to guidance here:
Tax on your UK income if you live abroad
Thank you. 

Hi username150,
HMRC cannot make a payment to a foreign bank account.
You can nominate someone in the UK to receive the payment for you.
Thank you. 

Hi ANATH,
Please refer to guidance at:
HS265 Offshore funds
Thank you. 

Hi Mark Ross,
Tax relief cannot be claimed on expenses for voluntary work and the travel expenses are not seen as a donation to claim gift aid. further guidance is at:
Volunteer opportunities, rights and expenses
Thank you. 

Hi msjaharrop Harrop,
Thank you for your question.
Interior and exterior painting and decorating are normally deductible in computimg rental business profit.
PIM2025 - Deductions: repairs: overview
Thank you, 

Hi hennie70,
Thank you for your question.
Article 7 of the UK/Finland double taxation treaty says that income from imovable property situated in Finland "may" be taxed in Finland.
This means that the rental income may be taxed in both Finland and the UK.
As a UK resident you are taxable on your worldwide income and so you should declare the rental income on your Self Assessment tax return.
If tax is charged in Finland on the rental income then you should claim "Foreign Tax Credit Relief" on your UK tax return in respect of the tax charged in Finland.
Relief will be limited to the lesser of the Finish tax charged and the UK tax charged on the same income.
Thank you, 
 

Hi Elizabeth Lindsay,
Thank you for your question.
The guidance provided at:
PIM2505 - Beginning and end of a rental business: commencement
Should be followed and you must make your claim, or not, after reviewing this guidance.
We do not give specific guidance on the forum of what can and cannot be claimed.
Thank you, 

 

Hi Edmund72,
Thank you for your question.
Expenditure on a loft conversion would be considered to be a Capital expense and not deductible when calculating your rental income profit/loss. Alterations to a building , amounting to reconstruction , is not a repair and is not deductible from profits.
Capital expenditure would be claimed as a deduction from any Capital Gains Tax liability should the property be disposed of.
PIM2030 - Deductions: repairs: is it capital?
Only the interest arising on the portion pof the loans used to purchase the rental property will attract income tax relief.
This applies to both loans , irrespective of the secuity used to obtain the loans.
Should you wish to amend your Self Assessmnet tax return after the 12 month amendment window, a claim for overpayment relief under Sch 1AB TMA1970 should be made:
SACM12150 - Overpayment relief: Form of claims
Thank you. 

Hi Franco,
Thank you for your question.
Any change in ownership is only valid if received with in 60 days of the signed evidence.
They cannot be accepted retrospectively.
I would suggest you write to HMRC at BX9 1AS and on receipt HMRC will note the record accordingly.
Thank you. 

Hi Zia Khan,
HMRC cannot advise you on this as your residence is for you to determine based on the guidance available:
 RDRM12000 - Residence: The SRT: Split year treatment: Contents
Thank you.