HMRC Admin 25 Response
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RE:Investment /Capital Gain/Loss/Tax credit relief
Hi CL,
If you are completing SA108 paper supplementary page, listed and unlisted shares and securities are declared on page CG2.
Disposal proceeds of £8000, with costs of £10000, gives rise to a loss of £2000, that can be carried forward.
Thank you. -
RE: Property sold. Split transfer then consolidate the funds will cause mixed fund?
Hi bmc,
For Capital Gains Tax purposes, the calculation of any gain is calculated in pounds sterling only, using the official exchange rate in place at the time of acquisition and the time of disposal.
Incidental costs of acquisition and disposal can be deducted from the disposal value.
CG15250 - Expenditure: incidental costs of acquisition and disposal.
The official exchange rates can be found here:
Exchange rates from HMRC in CSV and XML format
Archived rates here:
Exchange rates
In the event that an individual remits funds from a foreign bank account to the UK, they will need to calculate the amount of income and gains the account has had since: the day they moved to the UK and the day they remitted the funds to the UK.
This will determine the amount of income and gains that HMRC will tax.
Thank you. -
RE: Re-register for Self Assessment, if I registered for not self-employed last year.
Hi Raymond_33,
You only receive one National Insurance number, which is unique to you and covers everything tax and National Insurance related, for your whole life.
If you have self employment with a turnover in excess of £1000.00, you will need to register for Self Assessment, as self employed, to ensure that National Insurance payments will be deducted from your profits.
You can do this at:
Register for Self Assessment
Thank you.
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Re: Payments on Account
Hi wilsonmj,
If you file the tax return the Payments on Account are adjusted accordingly, if you then pay the total amount due you won't need to make any further payment for the year.
Thnak you. -
RE: Estate monies
Hi Julie Davison,
You would need to write to HMRC, to advise them of the interest that applies to the estate, so that it is not carried forward to future tax codes.
The address is H M Revenue and Customs Pay As You Earn BX9 1AS.
Thank you. -
RE: "SA102 - Employment" - Needed if no income is received ?
Hi msirl,
You can still complete the page and enter £0 as income for the year.
Thank you. -
RE: Which amount to mention for Charity donation?
Hi dijeah,
You should enter the price that you paid.
If this is not a regular amount you should enter it in the one-off payments box that you mentioned.
Thank you. -
RE: PSA
Hi olivier bluche,
The interest would be included in calculation of the taxable income.
Thank you. -
RE: foreign interest saving
Hi olivier bluche,
This is still correct.
Thank you. -
RE: Little help understanding Tax Demand reason
Hi kintekke,
If Marriage Allowance was in place, it would be removed if you went into the higher rate threshold.
If this was previously in your tax code for the year it would cause an underpayment.
Thank you.