HMRC Admin 25 Response

Hi KELLY SCOTT,

If you have been unable to set up a plan online, contact our payment team on 0300 200 3822.

Thank you, 

 

Hi SErgiu Hriplivii,

You can set up a payment plan online if you have filed your latest return, owe less than £30,000 and are able to pay this off within 12 months.

Guidance can be found here: 

If you cannot pay your tax bill on time

Thank you. 

 

Hi Stella Bottai,

You can contact our Self Assessment  payment line to discuss a payment plan on 0300 200 3822.

Thank you. 

Hi Stephen G,

Yes they are the overseas part of the year.

Thank you. 

 

Hi Jan,

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 are no tax implications of transfering money from a foreign bank to a UK bank, provided the money being transferred, is capital and not income arising in the tax

year it is transferred.

Thank you. 

Hi hcgkng,

We would advise that an interest only mortgage is claimable, not as an expense, instead as a basic rate reduction to be used against your liability and inserted in box 44

"Residential property finance costs".

Further guidance here:

Tax relief for residential landlords: how it's worked out

Thank you. 

Hi Laura G Smith, 

There are no income tax implications on the receipt of a cash gift unless the income 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

Thank you, 


 

Hi rabbitinheadlights,

Thank you for your question.

If completing your return online you will find the box to show this interest on the fourth page of the Property section of the return under Residentia Finance costs on a paper return they go in Box 44 on the property page.

In the Self Assessment calculation the reduction in tax in respect of these is shown after the secion showing tax charged after releifsand allowance itbis shown as relief for finance costs.

If no entry is shown there then this would normally mean the relief cannot be used in the year as there was no tax chargeable on the income from property.

The unused residential finance costs can then be carried forward to be set against any tax chargeable on the property income ina future year. 

Thank you.