HMRC Admin 21
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RE: ALCS tax
Hi andrewmaclachlan,
As you state you are a higher rate taxpayer, the savings allowance is only £500. the peer to peer lending is declared on the additional information page SA101 at box 3. Bank interest is declared on the main return under untaxed interest. For the £79.66 received, if this is actually royalties then this needs to be declared as other earned income.
Thank you. -
RE: Tax underpayment. Who caused it?
Hi rebeccalyon Lyon,
If you were paid by your old employer and new employer in the same month, and both operated the same code, this may have caused the underpayment.
To confirm this, and to help us advise on what you can do, contact us by webchat or phone via Income Tax: general enquiries.
Thank you. -
RE: BADR eligibility for a FHL
Hi Ari,
As we are still awaiting draft legislation on any changes to FHL taxation / reliefs and that we can’t provide financial planning advice.
For advice on FHLs please refer to HS253 (HS253 Furnished holiday lettings (2024)),
for BADR helpsheet HS275 (HS275 Business Asset Disposal Relief (2024))
and for holdover relief helpsheet HS295 (HS295 Relief for gifts and similar transactions (2024)).
Thank you. -
RE: Property Undervalued at Probate, just marketed and hopefully sold, is CGT payable ?
Hi diycrazy,
Per the guidance: Report and pay your Capital Gains Tax, scroll down to the section for reporting for an estate.
Thank you. -
RE: Rental income transfer to my wife
Hi harvshow B,
As long as HMRC have been advised of the alternative split and you have your acknowledgement then yes it will be declared as per the beneficial ownership.
Thank you.
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RE: Capitol Gains tax on property currently rented out
Hi Andi,
HMRC cannot advise you on this as it is you who needs to tell us the amount of gain made.
Guidance is at: Capital Gains Tax: what you pay it on, rates and allowances.
Thank you. -
RE: Living in Spain and working remotely for UK based company
Hi Hulya,
For the earlier years it will depend on the information that you have given on the P85. If you gave a leaving date from Spetember 2021, all years will be looked at for any refund.
Thank you. -
RE: Moved abroad and seeking advice on form SA109
Hi riy87,
It is the whole tax year.
Thank you. -
RE: Third wrongly sent letter saying I owe money
Hi jordanameliacarroll,
I'm sorry for any stress this issue may have caused you. It's most likely that the amount requested is an amount that was becoming due when your Self Assessment record was closed, and our system may have missed in cancelling.
To review this for you, you can contact us by webchat via Self Assessment: general enquiries - just click 'ask HMRC online' and ask to speak to an advisor.
If you would like to make a complaint about your experience, search for: Complain about HMRC
Thank you. -
RE: Property Undervalued at Probate, just marketed and hopefully sold, is CGT payable ?