HMRC Admin 10

Hi

Thank you for your further question.

As we have stated in our previous answer the default position for a rental property jointly owned by husband and wife is 50-50.

However if you wish to change this you would have to submit a Form 17 together with the appropriate evidence that the property is split in unequal shares.

You can complete the Form 17 by following this link:

Declare beneficial interests in joint property and income

If you do not have a National Insurance number please quote the Unique Taxpayer Reference (UTR) that you submit your Self-assessment tax returns under.

Thankyou.

Regards.

Hi

Thank you for your further question.

The amount of the loss carried forward must be used in the first year that there is a taxable profit even if this reduces your taxable profit to below the personal allowance.

An example would be if your rental income was £8000, and this was your only income, and you had £5000 of losses brought forward, the full amount of the losses brought forward must be used against your rental income reducing this to £3000.

If your losses brought forward exceed your profit then you would use the amount of losses to reduce your profit to nil and any balance of losses can be carried forward to the following year.

If you require any further information regarding this please contact our Self-Assessment helpline on 0300 200 3310.

Thankyou.

Regards.

Hi

Please find the paper version here along with the relevant notes:

Residence, remittance basis etc (Self Assessment SA109)

Thankyou.

Regards,

Hi

Yes you would then need to complete a self assessment return for foreign income but you you would not need to register as a sole trader and no NI would be charged.

If you wanted to pay NI you could set up a DPNI scheme.

Guidance can be found here:

PAYE20100 - Employer records: set up employer record: DPNI scheme - direct payment (tax and NIC)

Thankyou.

Regards.

Hi

To pay class 2 and class 4, as this is self emplyed income, you would need to register as a sole trader.

Thankyou.

Regards.

Hi

Thank you for your patience with regards to this scenario.

HMRC does not intend to update the guidance for individuals who have spent less time in the UK due to the Covid-19 pandemic.

You should self-assess in the normal way based on the actual days you have spent in the UK.

There are 3 Automatic overseas tests, 3 Automatic UK tests and the Ties test.

RDRM11040 sets out the order in which each of the tests should be applied to reach a decision on your status.

It will be up to you to work your way through the tests and self-assess accordingly.

Additionally, if you have now ceased work for your part-time UK employer and are now self-employed providing services online you  should refer to RDRM11770 from which can be seen that work is considered to be done at the location where it is actually done rather than where the employment is held or the trade, profession of vocation is carried on.

So if you are in Brazil when doing your job such duties would be regarded as work done overseas.

The taxation of this income will depend on your residence status and where you perform your work.

More information regarding the taxation of different types of income depending on your residence status is available in booklet RDR1 which can be found at :

Special rules for certain occupations

Thankyou.

Regards.
 

Hi

As a UK resident, any income tax from abroad, including capital gains tax needs to be reported to the UK unless you are claiming the remittance basis.

Further guidance on both can be found here :

Capital Gains Tax

and

Residence, domicile and the remittance basis: RDR1

Thankyou.

Regards.

Hi Blobcore

As previously suggested, please contact the helpline for confirmation.

Thankyou.

Regards.

Hi

Depending on the purpose of the vehicle, Annual Investment Allowance (AIA) may be best suited.

Please find further guidance contained within the Capital Allowances Manual, specifically CA23080 on AIA qualifying expenditure and generally CA20000.

Thankyou.

Regards.

 

Hi

Thank you for your question.

SDLT is dealt with by a different part of HMRC and you would have to speak to that office but as I have said in my previous answer transferring ownership is not required to transfer the right to all or part of the income to your wife.

Thankyou.

Regards.