HMRC Admin 10 Response
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re Double taxation
Hi
You ceased to be tax resident in the UK from the start of the tax year after you left the UK. You would be resident in Spain and taxable there. You do not have the choice of which country you want to pay tax to. The tax treaty between the UK and Spain would mean that your UK rental income is taxable firstly in the UK (the property is located there) and then in Spain, where you claim a tax credit for the UK tax paid. Non government pensions, state pension, employment and so on would be taxable in Spain and not the UK. If you complete a self assessment tax return, you can claim back for the previous 4 tax years. Anythning older than that is out of data and cannot be claimed. -
RE: Benefit In Kind Effect on Tax Code
Hi
Unfortunately, you would need to discuss any changes to the payrolling of your car benefit with your employer. -
RE: Maturing SAYE - utilising 2 years' ISA allowances
Hi
The guidance advises you have 90 days to put the shares into the ISA. It does not stipulate what you do with them in that period. -
re CGT already paid in tax year .What to put on SA form.
Hi
You will need to tick yes to disposing of chargeable assets, when tailoring your tax return. You include the disposal value and the allowable costs. When you are in the 'fill in your return' section click on the capital gains option. Tick yes at the box for 'Residential property and carried interest' as well as the box for your other disposals and save and continue. You then show the number of properties disposed of, the disposal proceeds, allowable costs and gains. just after the question 'are you making any claims or elections, there are two boxes for the gain and tax reported using the online capital gains service. These boxes will place a credit into the tax calculation for capital gains tax already paid. -
RE: Non-Resident For Tax In Any Country - actual taxation
Hi
Yes. -
re Payments from abroad bank fees
Hi
No. If your client pays you £12 per week more, this is considered part of your turnover and should be declared as such. There is no tax relief available for costs incurred in converting to pounds sterling. -
RE Providing interest free loan to adult student children
Hi
If the recipient of the loan, generates interest as a result of the loan being in their savings / bank account, they accrue the interest and will be taxable on it.
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RE: Business mileage from home to various sites
Hi
As there is still an office presence and a desk available, your place of work is still the office so any mileage would be based from there and not your home. -
RE Loss brought forward from earlier years set-off against 2023-24 profits:
Hi
The loss from previous years will be included in the self employment section of the return and you only use the amont needed. Any balance will then carry forward.