HMRC Admin 21 Response

Hi,
The rental income from a residential property would normally be an exempt supply and so there would be no requirement to register for VAT.
Please see the guidance below:
3. The liability of a supply of land
3. Working out whether you need to register
However, if it is classed as holiday accommodation then this would be standard rated.
Please see below:
5. Holiday homes.
Thank you.

Hi Cargo4689,
If the goods fall under the category below then the liability would be zero VAT and so the importation of them should not attract any VAT:
2. Protective boots and helmets for industrial use.
Thank you.

Hi,
If you are making taxable supplies then the key element is what constitutes your taxable turnover and what constitutes consideration for your supply
Please see the guidance below:
VATREG02300 - Basic principles of registration: meaning of taxable turnover
VATSC05100 - Consideration: Definition of consideration
Thank you.

Hi,
I am sorry for the inconvenience you have experienced in trying to register here.
Please contact us by webchat, phone, or post, via Self Assessment: general enquiries, and we should be able to finalise your registration.
Thank you.

Hi,
As transfer part of the property, this will be seen as a disposal and as such Capital Gains will be due - .
With regards to the rental income received, you can still be classed as the beneficial owner of all the rental but you need to submit a declaration of trust to show the split.
This also applies to the property owned with your partner.
Thank you.

Hi Kathryn8765
That is correct.
Thank you.

 

Hi mimi3737,
If you find that a change in your income takes you over the £100K limit, or that an error was made in your previous calculation, contact our Child Benefit team by webchat or phone via: Child Benefit: general enquiries, who can advise you further.
Thank you.

Hi,
Please refer to: BIM33310 - Stock: trading transactions in: ways of disposing of or acquiring stock.
Thank you.

Hi,
If your code is on a cumulative basis, you should be gradually repaid this over the course of the tax year. Otherwise, any tax overpaid will be repaid after the tax year has ended.
Thank you.

Hi,
It is based on the difference in value at time of purchase to date sold. You can then claim private resident relief for the period you lived in it to reduce the tax due - Private Residence Relief (Self Assessment helpsheet HS283)/HS283 Private Residence Relief (2024).
Thank you.