HMRC Admin 25 Response

Hi Wendy1234,
A Qualifying Non-UK Pension Scheme is a pension fund to be used only upon retirement. 
There may be penalties if a QNUPS is not used as a retirement fund – these are determined and enforced on a case-by-case basis.
Thank you. 

 

Hi Confusedbytax,
Please also  refe rto guidance at:
Claim capital allowances
If you opt for claiming the cost of the van, you cannot claim the simplified 45p per mile to cover wear and tear or vice versa.
Thank you. 

Hi P Bell,
No SIPP payments do not reduce the income figure for the savings allowance. 
Thank you. 
 

Hi res-non-dom Ben,
You would need to confirm this on the SA109 residence section of your tax return for HMRC to be aware that you are claiming this to allow us to then send confirmatoin that you can present to the bank.
Thank you. 

Hi 
1. The goods will be considered assets of the business and the cost of them will be considered as part of your expenses.
2.This would likely be VAT and you will need to refer to:
VAT: detailed information
As it cannot be asnwered on this forum as this for personal tax only.
Thank you. 

Hi htop123,
It will be based on what your final total is at the end of the year to ascertai nhow much savings allowance you are due.
If you are a higher rate taxpayer it will be the £500 There will be no change to personal allowances unless your income exceeds £100,000.
Thank you. 

Hi Ashley Li,
The SA101 is not applicable.
You will only declare the UK part of the Hong Kong income as the duties are carried out here.
You do not include any of the income from when you were still in Hong Kong as this is not taxable in the UK as part of the double taxation agreement.
You will therefore show the income as self employment on the SA103 and if tax has been paid in Hong Kong on the income since you came to the UK, then you wil also complete the SA106. 
Tax on foreign income
Thank you. 

Hi Jim3,
You are correct.
Thank you. 
 

Hi E,
You haven't mentioned whether you use Cash Basis Accounting or Traditional Accounting.
If you use the Cash Basis, your expenses would be allowable in the UK  tax year in which they were incurred.
If you use Traditional Accounting, expenses are recorded/allowed on the dates on which invoices are issued or bills are received.
You should declare your income and expenses in the SA return for the UK tax year in which they are accounted for.
If you don't know the exact amount of Foreign Tax Credit Relief claimable for a particular tax year, you can enter a provisional estimate and amend your return as necessary when you have paid the Finnish tax due.    
 Foreign notes Tax year 6 April 2019 to 5 April 2020 (2019–20)
Thank you. 

Hi ben-liz,
If you gave away only 50% of the property, the figure you should enter on the online form is 50% of the market value.  
Report and pay your Capital Gains Tax
Thank you.