HMRC Admin 10 Response

Hi Caroline
You can report this using the real time system anytime prior to 30/12/24. Alternatively you will need to register for self assessment and complete a full return to report this and pay it by 31/01/26.

Hi
Please refer to the details in the link.
HMRC do not deal with applications but there is contact details for questions on the link provided previously.

Hi.
I'm sorry that this has happened to 4 of your clients.
Please call our Helpline on 03002003700 and we can submit an urgent referal over to our change of legal entity team to resolve this.

Hi.
Can you give me an example of a supply/triangulation supply so I can advise on this

Hi
If you incurred expenses in a tax year before you commenced trading / letting the property, you can carry the expenses forward to the first year that you commence trading / letting property.  The expenses can be set against the gross profits of the first years trading / rental.  If this generates a loss, the loss can be carried forwards and set against a future gain.

Hi
Capital gains tax would be payable on the shares up to their disposal value prior to being placed in th ISA.  Once in the ISA, there would be no capital gains tax liability.

HI
No.  The disposal of the shares would be subject to the rules regarding capital gains tax.  Capital gains tax applies to the disposa of assets for more thatn they were acquired for.  Dividends arising from ownership of the shares, would be subject to income tax.

HI
There are no tax implication arising from a cash gift.  You are correct that any interest the cash gift generates, is taxable and should be declared and that inheritance tax may be payable on the gift if the the 7 year period for inheritance tax is not met.

Hi
If you register for self employment in the UK, you would be declaring your world-wide self employment income while resident in the UK.  If you relocated to Spain, then you would declare to the Spanish tax authorities that you are self employed and in receipt of overseas self employment income from the UK.  You would no longer be taxable on the self employment in the UK, when you relocate to Spain.  This will not prevent you from having UK clients and generating self employment income through them.

HI
There are no income tax implications on a cash gift.  If your wife can if she chooses, pay this into her pension scheme, she can also claim higher rate tax relief.