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  • Rental Income less than 1000

    Hi, I am a high rate tax payer (income from employment more than £100,000). I just brought a rental property with my husband under tenant in common and my share of gross rental income is less than £1000. I also contributed to SIPP so want to file for self-assessment to claim for tax relief. 1) Do I need to include the rental income in my self-assessment? As the form said I don’t need to but excluding rental income can impact my Personal Allowance? 2) I want to claim 30-hour free childcare for my daughter so my adjusted net income needs to be under £100,000. Do I need to include the rental income in the calculation of the adjusted net income? Thank you
  • Payment to employer’s pension scheme

    Hi, I am a high rate tax payer with annual salary being more than £100,000 (for example £103.000). I pay £3600 into my employer’s pension scheme and this amount is deducted from salary after tax and NIC. In the pension statement, there is one line called “The government added: £900”, which I understand is the basic rate relief. I think I can claim the higher rate relief through self- assessment. However I am not sure what number I should put in the self-assessment form. Should I put in Box 1 - Payments to registered pension schemes operating as “relief at source” the amount of £3600+£900 = £4500. Or should I put in Box 3. - Payments to your employer’s pension scheme which were not deducted from your pay before tax, the amount of £3600 only? Can I use the pension contribution in calculating adjusted net income for 30-hour free childcare? If yes, which number should I use? The £3600 contribution + £900 tax relief or just the £3600 contribution only? Thank you
  • RE: Stamp Duty Tax

    Hi, Thank you for your response. We have submitted Form 17 with supporting document as the Deed of Decrlaration by post to HMRC in November 23. However, we have not hears from HMRC since then. How can I know if HMRC receive my post and when I can expect to hear about the confirmation? if there is postal issue can we calculate the income tax from date in declaration of trust or from date HMRC confirms? Thank you
  • Stamp Duty Tax

    Hi, My husband and I own a Buy-to-let property as joint tenants. The property has outstanding mortgages of £110,000. As my husband has become a high tax payers, we are thinking of serving a declaration of trust so that (1) We change from joint tenants to tenants in common (2) I can benefits 90% of the rental income and his is 10%. We have consulted solicitor and there will be no change in the mortgage or the deed of the house. In this case, do I have to pay any stamp duty land tax? if yes, how the consideration is calculated for stamp duty calculation? and When I should fill and pay for the stamp duty one? Thank you