HMRC Admin 10 Response
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RE Adding redundancy pay seems to double my total taxable gross....
Hi
If already included the income on the employment page, do not put anything at the box for amounts over the 30k exemption. -
RE Dividend on Self-assessment
Hi
The dividend would declared in the the tax return relating to the tax year that the dividend is paid to the director.
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RE SA Director's Remuneration
Hi
Yes this would be included on your personal self assessment tax return.
Include as employment income and if you do not have a PAYE reference, type None. -
re eBay business clearance sales through personal account
Hi
Yes. It is quite possible that you will receive a letter advising that a self assement tax return is required.
You should write to H.M. Revenue and Customs Self Assessment BX9 1AS (including your national insurance number) and advise of this situation, in the interest of full disclosure. -
RE Penalty payment of DVLA
Hi
this forum is for personal income tax only and not DVLA.
You will need to contact the correct government department - www.gov.uk. -
RE Gross UK Fixed Interest - Where to enter on Self Assessment Tax Return
Hi
Declare as untaxed UK interest. -
RE Left the UK in 2022 but kept UK savings account: tax on interests?
Hi
This would depend on the amount of savings and investments income in question.
If you received more than £10000 from savings interest, money from bare trusts and interest in possession trusts, then you would need to declare this on a self assessment tax return.
Savings and investments arising in the UK, are taxable in the UK.
As you are not resident, it is considered to be disregarded income and the tax is calculated using additional steps as described in HS300. -
re Declaring interest income received on a private loan
Hi
This is classed as peer to peer lending.
Peer to peer interest should be entered on the return as Other UK income, Interest from gilt-edged and other UK securities, deeply discounted securities and accrued income profits. -
RE: HMRC software calculating tax on dividends at 20%
Hi
Try deleting the section and re entering the details as we are not aware of any issues.
If you still have an error, click on get help with this page to report it. -
re Tax on gifts to children
Hi
The giving of gifts does not attract any tax relief, whether the gifts are money or assets.
Depending on the value of the gift, there may be inheritance tax implications.
Please have a look at the guidance at HS295 Relief for gifts and similar transactions (2023) Updated 6 April 2023 and How Inheritance Tax works: thresholds, rules and allowances.