HMRC Admin 25 Response
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RE: EIS tax relief following negligible value sale
Hi Simon Jardine,
Yes, any tax relief received needs to be clawed back:
VCM15010 - EIS: income tax relief: withdrawal or reduction of EIS relief: overview
Thank you. -
RE: Accountancy fee
Hi CCE,
No, as these are specifially needed for you to do your job to be allowable.
Please see:
Claim tax relief for your job expenses
Thank you.
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RE: Taxes on share options
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RE: TAX AS AN INDEPENDENT CONTRACTOR ON A UK SPOUSE VISA
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RE: Higher rate income tax if no personal allowance
Hi Konrad Wallerstein,
The higher rate will start at £37,700.
Thank you.
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RE: Purchase of foreign Investment property and CGT roll over relief
Hi Gray Silk,
Please refer to guidance here:
HS290 Business Asset Roll-over Relief (2024)
Thank you. -
RE: Balancing Payment plus 1st Payment on Account
Hi Helen Lynch,
If you file a tax return where the balancing payment owed is more than £1000, two Payments on Account (POAs) for the next tax year will then be scheduled.
These POAs total a prediction of what you will owe for this next tax year.
The first POA is due on the 31st of January (10 months into the tax year in which the amount is technically owed)
While the second is due 31st of July (4 months after the end of the tax year which the amount is owed for).
POAs ensure that the majority of the tax that you owe for a tax year will be paid before you file that year's tax return, while still allowing more time for that tax to be paid than PAYE taxpayers receive.
You can read more here:
Understand your Self Assessment tax bill
Thank you. -
RE: Filing Paper Self-Assessment Registration (SA1) and Requesting for Paper Self-Assessment Forms
Hi elsie,
Your friend should complete and post the SA1 form, confirming that they would prefer to be sent a paper tax return to complete.
If they do not then receive one, they should contact us by webchat, phone or post here:
Self Assessment: general enquiries
To request one. -
RE: Self Assessment Registration and Exchange Rate
Hi Pamela Chan,
After registering, you should receive confirmation of your UTR in the post in 3-4 weeks.
If your abroad, it can take two months.
You do need to receive your UTR before you can file a tax return.
Thank you.
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Tax rebate deadline ?
Hi Sharon Lee,
If your overpayment of tax has been calculated, you should be able to see it, and claim it via your Personal Tax Account (PTA)
You can access your PTA here:
Personal tax account: sign in or set up
If your overpayment is not present, we may be waiting on more information about your income for the 23/24 tax year.
Please contact us by webchat or phone here:
Self Assessment: general enquiries
So we can update you further.
Thank you.