HMRC Admin 8 Response

Hi,
You would be entitled to claim the monthly bank charges as an allowable expense as long as the charges are wholly and exclusively for the purposes of renting out the property.
In respect of the foreign tax paid on your foreign rental property you are correct in saying that you would need to apportion the foreign tax paid to coincide with the UK tax year.
If you do not know how much foreign tax relates to the period from 1 January 2023 to 5 April 2023 then you would estimate the 2022-23 foreign tax and amend the return as soon as possible as you have stated.   
Thankyou.

Hi Moray,
Our International Team are currently dealing with queries received on 10 February 2023 so it may take about 47 weeks for them to reply to you from the date that we received your CF83 application form.  
If you’d like to speak with the National Insurance Helpline on 0300 200 3500 they will be able to give you a better estimate when you might expect a reply.
Thankyou.




 

Hi Keith,
You could send in your CF83 application form into HMRC and around the same time contact The Pension Service to check what tax years are best to pay for.  
When you receive a reply from your CF83 then you will be in a position to make an informed decision of the tax years that you want to pay for. 
Our International Team are currently dealing with queries received on 9 February 2023 so there could be a delay of about 47 weeks from the date that we receive your CF83.  
We can advise that you will not be penalised because of HMRCs delay and you will be given an extended time limit to pay if the reply is issued to you close to the payment due date.
Thankyou.

Hi,
In relation to whether a SEV Form/ restriction to change to tenants in common, as transfer of deed is not taking place, we would expect that this would not be necessary but we would advise to contact the Land Registry direct as this forum is based on income from property queries.
As the property is held in joint names and you wish to declare uneven interests, the Form 17 would be the appropriate form to complete alongside the declaration of trust/ deed of trust.
Thankyou.

Hi,
Based on the information provided, we assume you are referring to help sheet HS223 which outlines various scenarios.
Looking back at previous responses to your query,  we believe the recommendation to tick “no” would refer to if the level of income falls below £7,500, to which as indicated, would not be the case, so ticking “no” would be the correct action to take.
Using Option A, you would combine both rental profits together and insert it as one amount under total rents on the following page of the online tax return, as there is no functionality to declare profits as two separate incomes.
Thankyou.