HMRC Admin 21 Response

Hi D629597,
We cannot comment on scenarios, real or imagined.  You can pay up to £60000 or up to your earning level if lower than this.  Your pension provider would claim 20% tax relief from HMRC.  You gross up your payment into your pension ((payment/80)*100).  You then claim a further 20% from HMRC by either declaring in a self assessment tax return or by writing to HMRC at H.M. Revenue and Customs Pay As You Earn BX9 1AS, including supporting evidence of payments made.  This can be provided by your pension provider.
Thank you.

Hi michael Sumner,
If both parts were sold together, you would need to break the capital gain into two parts.  75% for residential and 25% for non residential.  In the SA108 (https://assets.publishing.service.gov.uk/media/660bbb40f9ab417b75eea375/sa108_2024.pdf) you would declare the 75 in the residential section, including private residence relief, if allowable.  You would also intlude the non resdiential section at "Other property, assets and gains" and claim Business Asset Disposal Relief (BAD) in this section.  Self assessment will apply the annual exempt allowance as parts of the calculation.
Thank you.

Hi macaque25 OnTheRock,
This would appear to relate to a date in the future and as such we cannot comment as legislation and/or plans may change.
Thank you.

Hi CAMI,
Yes it applies to all points on both posts.
Thank you.

Hi AMLF,
The same rules/criteria apply to FHL disposals for Business Asset disposal relief as for other qualifying disposals.
Please refer customer to HS275 Business Asset Disposal Relief (2024) - GOV.UK (www.gov.uk and CG63975 - Business Asset Disposal Relief: qualifying disposals by individuals - HMRC internal manual - GOV.UK (www.gov.uk).  
When the property became an FHL is a matter of fact. See PIM4110 - Furnished holiday lettings: qualifying tests for 2011-12 onwards (IT and CT) - HMRC internal manual - GOV.UK (www.gov.uk). For a new let, apply the tests to the first 12 months from when the letting began.
HS275 Business Asset Disposal Relief (2024).
Thank you.

Hi ZQ,
If you pay tax at the basic rate, no relief is due on pension contributions taken after tax via a workplace pension scheme. For more advice, contact us by webchat or phone via Income Tax: general enquiries.
Thank you.

Hi AMLF,
The guidance you refer to is in relation to an actual property business that lets the prioerty commericially so is therefore liable to pay NI on any profits. as yours would appear to be one property that is declared under the property section of the return, a form 17 is still required in order to show the beneficial ownership and any rental income should have been declared 50/50. in the absence of this any gain that arises when the property is sold will also be on a 50/50 basis.
Thank you
.

Hi Weia chang,
No as this is seen as a gift and no tax is due on cash gifts unless this then generates any interest or dividends.
hank you.

Hi james123456789y,
If you have left the UK and do not need to complete a tax return, please complete the online form P85 at Get your Income Tax right if you're leaving the UK (P85).  
If you need to complete a tax return in the tax year you left the UK, you would need to include the supplementary page SA109.
Thank you.
 

Hi Michael Hamlyn,
A calculation of the capital gain figure can be submitted.  HMRC may enquire into this at a later date and may ask for further evidence to support the calculation.
Thank you.