HMRC Admin 10 Response
-
RE Savings interest affecting amount charged at higher rate for Capital Gains Tax
Hi
Yes this still gets taken into account as it is taxable income for working out how much of the basic rate band has been used. -
RE Dependant Relative Relief
Hi
No as you did not 'acquire' the property prior to 1988 as it was only gifted to you in the 1990's. -
RE Closing a business
Hi
The disposal information would be on the company return and not a personal one. -
RE Subsistence
Hi
No. The cost of food and drink consumed, and accommodation used, is not in general an expense incurred wholly and exclusively for the purposes of the trade/employment, since everyone must eat in order to live. -
RE Full Surrender of Investment Bond
Hi
As the chargeable event gain is over £10k, then yes you need to register for self assessment to ensure the correct top slicing relief is applied. -
RE Switching between “Arising Basis” and “Remittance Basis”
Hi
Yes you can. -
RE: Carrying forward CGT loss
Hi
You need to send in details of the loss first giving a calculation as to how you arrived at your figures. This should be sent to
HMRC
PAYE & Self Assessment
BX9 1AS -
RE: Flexible ISAs - Using different providers in the same tax year
Hi
This is still allowed but you have now used the full 20k allowance and cannot pay anymore into any ISA until after 6/4/25. -
RE: cash gift
Hi
As previously stated, the cash gift is not taxable and as such does not need to be declared. You should however provide the bank/mortgage provider with evidence to show that it is a gift. -
RE: Crypto
Hi
This is between you and the online platform.