HMRC Admin 10 Response
-
RE: Tax on interest on long term fixed rate bond
Hi sostupid
UK banks/building societies are obliged to report intetest annually to HMRC so if you do not file a tax return it is irrelevant for you when you can access your interest and when to declare it.
If you are in self assessment though, you are required to report all your income even if covered by allowances.
You therefore need to know if the interest is taxable.
For a fixed rate bond that you cannot access the interest, then this is taxable in the year the bond matures.
Any account that you can access the interest annually, needs to be declared annually so for your senario as the account gives you the option to have it paid elsewhere, this will be declared annually. -
RE: Foreign pages self assesment
Hi
You answer No to this question if the country in which you receive the interest allows you to withdraw it.
This then opens up the pages for you.
Only answer yes if the country states states that funds cannot be removed. -
RE: Tier 2 Complaint
Hi
If you have any contact details for complaints you would need to contact them directly as we don't have access to timescales for escalations within complaints. -
RE: Trust Taxes - Isle on Man Investment & Trust, but UK resident Trustees and Beneficiaries
Hi
This would need to be confirmed with the Trust Helpline on 0300 123 1072. -
RE: Foreign Capital Gains
Hi
You would need to clarify why the additional payment has been made as it may need to be classed as an amendment to the original submission. -
RE: Deductible mileage - travel between workplace and employer provided accommodation.
Hi John,
You are correct.
The cost of ordinary commuting is not allowable under Section 338 ITEPA 2003.
For most, ordinary commuting is the journey they make most days between their home and their permanent workplace.
The term "ordinary commuting" is defined by section 338(3) ITEPA 2003 to mean the travel between a permanent workplace and home, or any other place that is not a workplace.
Travel from employer provided accommodation to workplace would be treated as ordinary travel. -
RE: residential carpark space capital gain tax rate
Hi
As the parking space is not attached to the property, we would also consider the parking space as not residential property.
There is guidance at Residential Property gains. -
RE: saving tax
Hi
If it is all UK interest then no as the banks will inform HMRC of the interest received in due course and you will be issued with a calculation to show the additional tax due.
If you have foreign interest, yes you need to complete a tax return. -
RE: If no NINO and UK passport, how to apply for UTR and submit Self Assessment Tax Return
Hi
You can try and register again when they receive the UTR.
They will only be able to file online and use commercial software if they can pass the verification questions.
If they can't a paper return will be required. -
RE: Unable to use commercial software for self-assessment tax return (non-UK resident)
Hi
When submitting the return using the commercial software, you use your government gateway ID and the password associated with that ID to submit the return.