HMRC Admin 25 Response

Hi bugman,
Thank you for your question.
As you are looking to take out a mortgage in just your name, removing your Wifes name from the title deed,
I would advise that HMRC would expect to see a valid Declaration of Trust outlining the benefical interest of both yourself and your Wife of the 50/50 split.
As the property is currently split between the two parties, a Form 17 would usually be sufficient, however, as she is being removed, this would no longer apply.
If a Deed/Declaration of Trust is not drawn up, then you are correct, HMRC would expect 100% of the rental income and any expenses to be incurred by yourself.
Further information on joint tenants can be found here:
Joint property ownership
Additional information of the declaration of trust can be found here:
TSEM9170 - Ownership and income tax: legal background: ownership income follows property - variation  
TSEM9160 - Ownership and income tax: legal background: ownership - income follows property
Thank you. 

Hi Rejish Jesudasan,
We aim to process Transfer of Residence applications within 14 working days.
If you do not receive a response within the timescales above please contact the Transfer of Residence team on 0300 322 7064.
Thank you. 

 

Hi sophships,
I would advise contacting the Customs and International trade helpline on 0300 322 9434 if you have any other issues with your query.
Thank you. 
 

Hi Tomasz Ullman,
Thank you for your question.
I would like to state that we are currently working postal items in date order to ensure they are dealt with fairly and as effectively as possible.
I would advise for further information on you personal case to use the attached tool which may outline the date that is currently being worked and when to expext a reply from HMRC:
Check when you can expect a reply from HMRC
You may also wish to use your Personal Tax Account if you sent the Form 17 in online.
Thank you. 
 

Hi L Smith,
Thank you for your question.
In respect of the fees incurred for the mortgage renewal any fees for loan finance and similar items would be classed as incidental costs and are generally deductible in computing rental business profits.
Please refer to the following guidance:
Property Income Manual
Thank you. 
 

Hi twdev,
Thank you for your question as you are UK tax resident you need to declare your worldwide income to the UK.
You may be able to able to claim back the credit for any tax paid in France  
Relief for foreign tax paid (Self Assessment helpsheet HS263)
Thank you. 

Hi Jolly Group,
Please call our Helpline on 03002003701 so that we can identify and resolve the issue for you.
Thank you. 
 

Hi Brizo123,
Unfortunately we are unable to answer your query without looking at your personal records.
You will need to contact the Department for Work and Pensions to check your state pension forecast.
You can contact them on 0800 731 0175, lines are open from 8am to 6pm Monday to Friday.
If you have queries about a contracted out pension, you would need to contact the Contracted Out Pensions Helpline on 0300 200 3500, lines are open from 8am to 6pm Monday to Friday.
Thank you. 

Hi Mike J,

Please see the relevant legislation which covers Share Incentive Plans. 
Share Incentive Plan legislation
Reg 4(1)(l) of the D&CI Regs requires that we should also include as income the following...
                        (l)     any amount charged to income tax for that year under Part 7 of ITEPA.
Part 7 of ITEPA includes Chapter 6 – Share Incentive Plans which sets out all the tax provisions relating SIPs, including circumstances where the participant leaves the plan early, and where payment is made to the participant on completion of the SIP period.  
Where the participant leaves the plan early, the amount they receive will be subject to income tax unless they satisfy specific conditions set out in s498 of ITEPA (e.g. scheme no longer operating following company takeover, redundancy etc).  
When a SIP plan matures as per the agreed fixed period, s490 Part 7 Ch6 ITEPA explains that a person is not liable to income tax on the value of the beneficial interest in the shares at the time of award or acquisition.
Therefore, if the sums are not chargeable to tax under Part 7 of ITEPA, then we would not include the sums as employment income under Reg 4(1) (l).
In this instance if the customer has not left the plan early then we wouldn’t include the income for tax credits.
This is because at the point of maturity this sum is not subject to income tax by virtue of s490 of ITEPA.
Thank you. 
 

Hi juliemci McIntyre,
You would only receive full years of credits while claiming Child Benefit.
As your child was born in September 1983 you wouldn’t have received any credits for the 1983/1984 tax year, however you would receive them from 1984 onwards.
Thank you