HMRC Admin 10 Response
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RE: Can pension contributions reduce tax on dividend and savings income ?
Hi
The personal savings allowance would still remain at £500 to leaving the remaining interest liable at basic rate.
The dividends, if over £2000, will be liable at the higher rate which for 22/23 is 33.75%.
Thankyou. -
RE: Tax on interest on long term fixed rate bond
Hi rl11
This has already been answered and no change to advice already given.
The guidance is as set out in previous reply and this is legislation.
Thankyou. -
RE: Paid Voluntary NI contributions - How long is updating of the online NI records taking?
Hi M OD
I can confirm that if you live abroad or you are requesting to pay voluntary National Insurance contributions for a period when you were living abroad, you will need to complete the CF83 application form (found on GOV.UK website by searching for leaflet NI38).
The application form will need to be received by HMRC by 05/04/2023, for tax years 2006-2007 to 2016-2017 to be considered with your application.
To indicate on the form that you would like to pay for past years, please tick yes in part 7 (question 25).
If you need to provide further information about past years, or any additional information, please enclose a covering letter with your application.
Please do not send payments for any years with your application.
You will need to wait until you have received a response to your application accepting your request to pay Voluntary National Insurance contributions before making any payments to HMRC.
Thankyou.
Regards.
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RE: Paid Voluntary NI contributions - How long is updating of the online NI records taking?
Hi Darren K
Thank you for your question.
You will be able to pay shortfall going back to 2006-2007 as long as your CF83 application is received prior to 5 April 2023 deadline.
We refer to this as the time does not run provision:
This applies to the period between the customer asking a question and being given an answer.
This means that the time taken to produce an answer is ignored.
I would advise that you read the NI38 and complete the application form as soon as you can and send it to the ICW caseworkers.
Both NI38 and CF83 can be found on gov.uk website.
Regards.
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RE: State Pension Contributions Living Abroad
Hi
You may be eligible to pay voluntary National Insurance contributions for the period you were living and working abroad.
You should complete application form CF83, which can be found on the GOV.UK website by searching for leaflet N I38 (CF83 application form is at the back of this leaflet) - Social Security abroad: NI38 - GOV.UK (www.gov.uk).
However, I must stress that this application form must be received by HMRC prior to 05/04/2023.
If it is not received by that date, tax years 2006-2017 to 2016-2017 will no longer be available to pay.
Thankyou.
Regards.
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RE: Retroactive National Insurance Class 2 Voluntary Contributions (pension gaps)
Hi Zidane
HMRC wouldn’t automatically allocate the payment to the oldest gap in your records.
It is the responsibility of the customer to confirm with the Pension Service, which tax years will be beneficial for them to pay voluntary National Insurance contributions, then they would need to tell HMRC which tax years they would like us to allocate the payments to.
HMRC does not know which years will increase a customer’s pension and which years won’t.
This information should be provided to the customer by the Department of Work and Pensions before any payments are made to HMRC.
Thank you.
Regards. -
RE: Retroactive National Insurance Class 2 Voluntary Contributions (pension gaps)
Hi BoraBabs913@
Thankyou for your question.
ROW are currently working on post received on 17 August 2022.
Thankyou.
Regards.