HMRC Admin 24

Hi

Please see the attached link as I would have expected 2019/20 to be processed by now.

Income Tax: general enquiries

Thank you.

Hi,

This will depend on how much you have from your pensions.

Anything over and above your personal allowance will then be taxed at the basic rate or above.

Please see further guidance here:

Income Tax rates and Personal Allowances

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Hi,

If she is being paid through a UK payroll from her company then she will need to complete a P85 to advise that she has left the UK.

We can then review this for an NT code which will allow the income to be paid tax free.

If no income is received from the UK then no tax return is required, the P85 should still be completed to note that she has left the UK. 

Thank you.

Hi

If you do not have any other income and your property income is over £1000, then you would be required to complete a Tax return.

Self Assessment tax returns

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Hi, MovingAbroad

If you are classed as Non UK resident based on the rules here, then you would only be subject to pay Tax on the income that was earned for any period when you were in the UK.

RDR3 Statutory Residence Test

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Hi insch,

Please see guidance, regarding negligible vlaue claims to create a loss and then how to offset this against other income.

Negligible value claims and Income Tax losses on disposal of shares (Self Assessment helpsheet HS286)

Thank you.

Hi Edward,

There is an assumption that offshore funds are not involved.

Unit holders in authorised unit trusts, and shareholders in open-ended investment companies, may receive income as an interest distribution or a dividend distribution.

The CTC will make it clear whether the receipt is an interest or a dividend distribution.

Dividend distributions received are treated in the same way as any other UK dividend for income tax purposes.

The equalisation payment is not income and it should not be treated as a capital distribution. It is a return of the initial price paid and it should therefore be deducted from the price paid when computing the chargeable gain on eventual disposal.

CG57705 - Capital Gains Manual - HMRC internal manual - GOV.UK (www.gov.uk)

Investment Funds Manual

HMRC internal manual Investment Funds Manual

HS284 Shares and Capital Gains Tax (2021)

Thank you.

Hi,

Yes, this would be an allowable expense.

Thank you.

Hi, Anne

There are no Income Tax implcations on this money so it does not need to be reported for Income Tax purposes. 

Thank you.

Hi, QQQQQhan

If your tax bill for the year is £1,000 or more, then we ask you to pay Payments on Account which are towards your next tax bill.

Thank you.