HMRC Admin 10 Response

Hi
An individual has 4 years in which to report losses.  
Losses reported on a paper tax return, should be submitted by 31 October each year and 31 Janaury if submitted online.  
You have  2 years from the end of the 31 January deadline to amend your tax return and a further 2 years until the end of the tax year to claim the losses in writing(4 years in total).

Hi
Replacing a boiler with a new one with a higher specification, would not qualify for capital expenses, as the function of the boiler remains unchanged, ie heat the property.  
A function of a window is to let light in.  
This does not change, whether the previous window was single, double or triple glazed, so would  not qualify for capital expenses.
A replacement kitchen, where the replacement is like for like, would not qualify.  
A kitchen that has marble worktops, replacing a standard worktop; hot and cold water taps, changed to a single mixer tap, a cooker replace with a hob and fitted ovens and so on would qualify for capital expenses, as there is a change in function.  
These are grey areas and each one needs to be considered on its own merit.  
It is largely a question of fact and degree in each case whether expenditure on a property leads to an improvement.

Hi
This has been determined by legislation and the double taxation treaty.

Hi
No more than 30 days in the overseas home in the tax year.

Hi
I would refer you again to the clarification provided below of HMRC's position on foreign stock dividends.
Given the complexity of this area of taxation, Customer Forum advisors are unable to provide any further guidance.             
“Stock dividends”, if they are traditionally structured bonus issues, are neither dividends, since nothing leaves the company, nor capital reductions, but rather reflect a capital reconstruction. 
Stock dividends as defined in the legislation are treated as income by virtue of S1049 CTA10 and, where undertaken by UK resident company, are taxable as savings income under S409 to S414 CHAPTER 5, Part 4 ITTOIA05.
However, there is no equivalent charge for stock dividend income from a non-UK resident company. Furthermore, the charging provision for dividends from non-UK resident companies (‘overseas dividends’) is quite different from the charging provision for UK dividends and other distributions at section 383 ITTOIA 2005. Section 402 ITTOIA 2005 is narrower, for example it excludes ‘dividends of a capital nature’.
This means that to be charged to Income Tax under s402 ITTOIA, something described as a “stock dividend” by a non-UK resident company would need to be a dividend of an income nature.
It is the company law mechanism of payment that determines whether the payment is a ‘dividend’ or not.
This is set out in more detail by the Court of Appeal in HMRC v First Nationwide.
This case determined that whether an issue of share capital by an overseas company is chargeable to UK income Tax, the primary question is whether the distribution is paid by a dividend mechanism.
The dividend will only escape the charge to Income Tax if it is accompanied by a reduction in capital or paid in a liquidation.
There is further guidance on the meaning of stock dividend below, and a specific comment on ‘Dividend Reinvestment Plans’.
CTM17005 - Distributions: stock dividends: introduction
Applying this to the question raised here it is necessary to look at the exact mechanism being used to achieve any sort of “stock dividend” by a foreign company.
If the transaction in question is a true “bonus issue”, then a SCRIP dividend will not give rise to a charge under section 402, ITTOIA 2005 for the reasons set out above, nothing has left the company and there has been no capital reduction.
However, where alternative methods are used, such as the DRIP scheme you note in your query, it is possible that a dividend chargeable under section 402 has been received, but it always depends on the exact mechanism used in the particular jurisdiction.

Hi Karen Evans
The business is not currently registered as an agent and therefore they can say no they are not an agent on the AML application form, this can be changed at a later date via the business Government Gateway account.

Hi
You need to wait until your are filing the 23/24 tax return as in year losses needed to be used against in year gains first.