HMRC Admin 8 Response
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Re: Foreign Tax Credit Relief
Hi,
You will need to declare the gain at the capital gains section in order for this to appear in the calculation so that the foreign tax credit relief can be given this will be restricted to the amount of UK tax due.
Thank you. -
Re:Tax on Frozen Pensions
Hi,
You can view your personal tax account to confirm the figure on record for your state pension is the same every year:
Personal tax account: sign in or set up
Thank you -
Re:When can I claim EIS loss relief?
Hi,
As the loss did not occur in the 22/23 tax year, you cannot claim it on the return. you can submit a separate claim for the losses for it to be done manually rather than wait until the 23/24 return is due.
You would need to submit this in writing to HMRC, PAYE & Self Assessment BX9 1AS.
Thank you. -
Re: Paying tax in advance for US-UK tax purposes
Hi,
You can make a payment of self assessment tax in advance.
There are various methods of paying the tax, which can be found at:
Pay your Self Assessment tax bill
Thank you -
Re:Gifting money to son for a house that I will be sharing with him
Hi,
If you give something away but still benefit from it (a ‘gift with reservation’), it will count towards the value of your estate.
There is more information on this at:
Work out Inheritance Tax due on gifts
Thank you. -
Re:Need to submit a tax return if CGT already declared and paid
Hi,
There are two criteria that must be met for the gain to be reported on a tax return:
1- a tax return is required for any other reason and
2 - the disposal value is over £49200 for 22/23 and £50000 for 23/24.
If only one of the criteria is met or none are met, then the gain does not need to be reported in a tax return.
Thank you. -
Re: Employee share schemes & ISA
Hi,
You can hold foreign shares in an ISA, so long as the shares are in a company on a recognised stock exchange.
You should contact your ISA provider, as they must approve the transfer within 90 days.
Tax and Employee Share Schemes
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Re:Other Incomes for Skilled Worker Tier 2 Visa
Hi,
This would appear to be self employment, with tax and class 2 and class 4 liabilities.
You should seek professional advice, to ensure that you are still within the terms of your visa.
Thank you -
Re:National insurance not shown
Hi,
You will need to declare self employment and or partnership gross profit and expenses on SA103 and or SA104 or their equivalent on the online return.
Only then can class 4 NIC be calculated and added to the liability. You also need to contact the NIC helpline on 0300 200 3500 (Monday to Friday: 8am to 6pm Closed on Saturdays, Sundays and Bank Holidays) to register as self employed and to pay class 2 NIC directly to them for 22/23.
You can find more information at:
National Insurance: detailed information
Thank you. -
Re:Accidentally paid in more than £20,000 in one tax year to 2 cash ISAs
Hi,
As £20000 is the maximum you can put into any combination of ISA's in a tax year, you will need to contact the ISA provider, who you saved £2000 with, so that they can repay the sum to you and bring you back in line with the ISA rules.
Thank you.