HMRC Admin 25
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RE: small gift clarification
Hi HKlady,
An individual's income can be made up of many things and that may also include dividend payments from investments.
It does not have to be the same amount.
Dividend payments in a tax year can fluctuate, so may pay out more in one year and less in another.
Share holdings may increase or reduce and this can also affect the dividends paid in a tax year.
Each tax year is looked a separately.
Thank you.
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RE: Declare and file a self-assessment tax return for the year 2022-2023 enquiry
Hi Maxx,
If you are going through the criteria checker and getting the answer no, then you don't need to complete a return.
Thank you.
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RE: Tax code
Hi Ilaria Mazzone,
We can't see the breakdown of his code on this forum, he will need to contact our Income Tax Team:
Income Tax: general enquiries
Thank you.
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RE: PAYMENT PENDING 2023
Hi Robbiesadler,
Please contact our helpline to check your tax refund position.
Income Tax: general enquiries
Thank you.
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RE:National Insurance Credits
Hi Without-anE,
It is the responsibility of DWP to ensure your NI Credits are recorded on your NI record following the end of the tax year.
If you have requested a statement to NI from HMRC, it will only show up to end of 21/22 tax year.
Statements will not include 22/23 tax year until October 23 to allow full processing of the 22/23 tax year.
Please continue to check your NI record online using your Personal Tax account.
If your credits for 22/23 tax year are not recorded, please contact the Job Centre again to get them to allocate to your NI record.
Thank you. -
RE: Class 1 national insurance credits
Hi Rab+M Murray,
It is the responsibility of DWP to add Class1 credits to NI records where NI Benefits have been claimed after the end of the tax year.
You will need to contact DWP – search for their number at www.gov.uk under the relevant benefit type.
Department for Work & Pensions
Thank you
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RE:Cash Gift From A Dual Nationality Parent
Hi addyt13,
There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
There could be inheritance tax implications, if your father's estate has UK assets:
Inheritance Tax: general enquiries
You may also want to review the guidance here:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. -
RE: PSA - Bank interest
Hi Mukesh,
You report the full amount.
Thank you.
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RE:Dutch government compensation
Hi semperlupe,
Transfering your Dutch compensation payment to your UK bank account would have no income tax implications (unless interest is generated) so no declaration of the transaction is required.
Tax on savings and investments: detailed information
Thank you.
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RE: Exchange rate of saving interest in other currencies received in different months
Hi Win CHAN,
Where possible, please use the monthly exchange rates published on the Gov.UK website.
The annual 'spot rates' provided on the Gov.UK website are also acceptable, as are the rates published in national newpapers.
HMRC exchange rates for 2022: monthly
Thank you.