HMRC Admin 25 Response

Hi Paul Weller,
You cannot carry back gift aid relief to an earlier tax year under any circumstances.
If there is an error in the figures quoted in the tax return, eg. 21/22, you have 2 years from the due date of the tax return, to amend your tax return.
E.G. 21/22 tax return due date is 31/01/23 and 2 years from that date is 31/01/25.
If the 2 years have passed, then you can submit an overpayment relief claim (OPR) in writing to HMRC.
Guidance on how to claim OPR can be found at
SACM12150 - Overpayment relief: Form of claims 
OPR also has a time limit, which is 5 April 2 years after the amendment window ended.
For 21/22 this would be 05/04/26.
Once the OPR time limit has elapsed, it is too late claim anything.
Thank you. 

 

Hi Zu Ko,
The guidance at BIM46351 advises that 'relief in respect of certain expenditure of a revenue nature incurred for the purposes of a trade, profession or vocation before it is commenced, provided the expenditure is incurred within a period of seven years prior to the commencement of the trade, profession or vocation, and is not allowable as a deduction in computing the profits of the trade, profession or vocation but would have been so allowable if incurred after the trade had commenced'.
The 'wholly and exclusively' rules still apply as advised at BIM37000:
BIM37000 - Wholly and exclusively: contents
Thank you. 
 

Hi Slava,
A sole trader is not limited to having just one client or multiple clients.
Self Assessment and being a sole trader (self employed) do not account for the number of clients you may have.
It is not relevant for tax purposes.
The number of clients does not affect being self employed or registering as a sole trader.
Your client(s) can be within or outside of the UK, or a combination of the two.
This just means that you have foreign self employment income, which is included in the self employment figures reported on your tax return
And if foreign tax is deducted, you can claim a foreign tax credit in the foreign section of the tax return.
Thank you. .
 

Hi Slava,
If you are resident in the UK, while trading as a sole trader, you would use a UK address.
This is for HMRC puproses only.
HMRC cannot comment on the restrictions of your rental agreement.
You would need to discuss this with your landlord.
HMRC only send general advice or information via email.
All other correpondence will be by post.
Thank you. 
 

Hi Eunice Tang,
If you are resident in the UK, then yes the gain will be subject to UK Capital Gains Tax and should be declared in a Self  Assessment Tax return.
If the the opposite arises and a loss occurs.
This can be declared in a Self Assessment Tax return and the loss carrief forward for offsetting against other capital gains.
HMRC gives you several alternative exchange rates to use, besides the official closing exchange rate on the day of the transaction.
You are free to use any of them.
They can be found at:
.Exchange rates from HMRC in CSV and XML format
Thank you. 

 

Hi C Price,
We cannot advise what the exemptions are, as it would be based on the double taxation agreement and the source of income in question.
Thank you. 

Hi Paul Weller,
You are correct you can only claim the tax relief if its employment related.
Thank you. 
 

Hi N S,
You can claim if you meet the criteria listed here:
Claim tax relief for your job expenses
Thank you. 

Hi YM Ying,
The UK uses the 'arising basis' and the test would be applied to the individual's circumstances.
You need to determine if the period of use of the overseas home was in the 22/23 tax year or within the 91 conscutive days.
We are unable to advise the outcome of your scenario.
Thank you. 
 

Hi Galactica, 
As a UK resident, you are potentially liable to Capital Gains Tax (CGT) on the sale of an overseas property
Tax when you sell property                                            
 However, based on the information you have provided (ie no increase in the value of the property between the date it was inherited and the date it was sold) you do not appear to be liable to CGT (but you may wish to check by using our Capital Gains calculator).
Work out your gain                        
As regards the transfer of money between an overseas bank account and a UK bank account, such transactions have no income tax implications, but you may have to pay tax on any interest or dividends generated.
Tax on savings and investments: detailed information                                                                                                       
Finally, we are unable to answer queries re: Inheritance Tax on this forum, so you may wish to call our Inheritance Tax helpline.
Inheritance Tax: general enquiries
Thank you.