HMRC Admin 25
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RE: Business Asset Disposal Relief
Hi dianeb,
If it meets the conditions here yes you can claim Business Asset Disposal Relief :
CG63965 - Business Asset Disposal Relief: meaning of business
Thank you. -
RE: UK-HK Tax Treaty
Hi A Chan,
If the HK work is for a UK employer then it is still liable in UK.
If a HK employer, under the terms of the DTA, income for work carried out on HK soil is only taxable there.
Thank you.
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RE: Declare interest on foreign savings if not brought into UK
Hi sg437,
If UK resident and domicile then yes.
If claiming the remittance basis as non domiciled then no.
Self Assessment: general enquiries
Thank you.
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RE: Declare interest on foreign savings if not brought into UK
Hi philip_an,
We can only provide general information / guidance in this forum.
For an answer to a detailed question of this nature, you would need to contact our Self Assessment helpline here:
Self Assessment: general enquiries
Or seek professional advice.
Thank you.
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RE: annual bonus tax implications
Hi David I,
As long as your tax code is been operated on a cumulative basis, any tax overpaid should be refunded automatically through your wages.
This will be once your income drops below the 45% threshold for the year based on the tax table rates for that week or month.
Please see guidance here:
Income Tax rates and Personal Allowances
Thank you.
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RE: HMRC Starter Checklist
Hi Mohammed Rafi,
You would need to answer 'yes' for question 8 as you will have two jobs for a short period of time.
This will ensure the correct tax codes are allocated.
Once you receive your P45 from your previous employer you can then hand this in to your new employer and contact us to review your tax code if your personal allowances need to be transferred to your new employer.
Income Tax: general enquiries
Thank you. -
RE: Adult child need to pay tax if acquire money from parents for studying
Hi WH,
This is not taxable income for your child and does not need to be declared by him for tax purposes.
Thank you. -
RE: Travel expenses 2 days/week - commute hybrid employee
Hi aitud66,
No. Travel to the companies office is still classed as commuting and does not qualify for tax relief.
Thank you. -
RE: Jointly owned property but 70/30% profit?
Hi Sai Tata,
We cannot comment on why your accountancy firm advised a partnership, normally in the circumstance you have described Form 17 and a Deed of Trust would be appropriate.
Please see the link to guidance provided below:
Declare beneficial interests in joint property and income
This form must be support be a Declaration of Trust or Deed.
Thank you. -
RE: SA100 and SA109
Hi K L Kwan,
We would need to access your sons records to check details held to see if he meets the criteria for Self Assessment. Self Assessment: general enquiries
Or your son can check if he meets Self Assessment criteria here:
Check if you need to send a Self Assessment tax return
Thank you.