HMRC Admin 10 Response

Hi
No it is on income you earn - Repaying your student loan

Hi
Please refer to Use these notes to help you fill in the Additional information pages of your tax return and boxes 6 and 7

Hi
Please have a look at the guidance on losses at HS227 (HS227 Losses (2024)
Please also have a look at the business income manual at BIM85000 onwards for more information  (Trade losses).

Hi
Yes, you will need to report the UK banks and building society interest on the tax return.  The £10000 threshold is part of self assessment criteria and is used to determine if a tax return is required.  As you have UK income from property, a tax return is already required, so that question becomes irrelevant.  As a non Uk resident your UK bank interest will be treated as disregared income when your tax liability is calculated.  Please have a look a the guidance at HS300 for more information. Non-residents savings and investment income (Self Assessment helpsheet HS300)

Hi
This forum is for guidance only hence the links sent.
As these are from HMRC webste this is HMRC clarification. should you need further advice after refering to the links then you will need to contact us direct on 0300 200 3300.

Hi
A sole trader can claim either £1000 trading income allowance or expenses, but not both.  You have declared the VAT as an expense, so you cannot claim the trading income allowance.  
If you’re VAT registered and using traditional accounting basis, details of your income and deductions would typically exclude VAT, unless VAT is not recoverable.   If you’re VAT registered and using cash basis, details of your income and expenses would typically include VAT.  If you choose to include VAT when completing your return, either: put your net VAT payment to us as an expense in box 30 or put any net VAT repayment you received from us in box 16.
Where an item is not deductible as an expense for Income Tax purposes, but the VAT is recoverable, add the recoverable VAT to the expense reported in box 30, or deduct it from the VAT repayment reported in box 16 and add a note in box 103 ‘Any other information’.  Do not include recoverable VAT when working 
out capital allowances on qualifying capital expenditure.  Add the recoverable VAT that’s excluded from the capital allowances computation to the expense 
reported in box 30 or deduct it from the VAT repayment in box 16 and add a note in box 103 
‘Any other information’.Self-employment (full) notes