HMRC Admin 8 Response

Hi,
Payments on account occur, when two criteria are met.  
There is an self assessment underpayment of tax of more than £1000.00 and less than 80% of the unpaid tax can be collected automatically (such as via a tax code operated by an employer).  
If both criteria are met, then the unpaid tax for the year, is used as a starting point for the next tax year, to create payments on account.  
Payments on account allow you to pay the tax due for the next tax year in January and July, with any shortfall payable as a balancing payment.  
More information can be found at:
Payment of tax: payments on account
Thank you.

Hi,
Point 4 of the identification rules says disposals must be identified with acquisitions following the disposal, taking the earliest acquisition first.  
The disposal on 1 April should be matched with the acquisition on 15 April.
 CG51555 - Share identification rules for capital gains tax from 6.4.2008: identifying disposals
Thank you.

Hi,
This sounds as if you may  have ticked the box to say you dont want it coded.
Please can you go back through it to check.
Thank you.

Hi,
The disposal of residential property and land on or after 27 October 2021, must be reported and the gain paid within 60 days of the completion date, otherwise penalties and interst charges will be imposed.  
This can be done online at:
Report and pay your Capital Gains Tax or with a paper capital gains return form where the individual is prohibited from declaring online.  
If you have other capital gain to report for 2022 to 2023 & 2023 to 2024, a different service can be used at:
Report and pay your Capital Gains Tax.  
You must report by 31 December in the tax year after you made your gain and pay by 31 January. For example, if you made a gain in the 2023 to 2024 tax year, you need to report it by 31 December 2024 and pay by 31 January 2025.  
Reporting after the due date must be by self assessment tax return.
Thank you.

Hi,
Unfortunately, gains and losses do not work that way.  
You need to set the loss against the gain before you can apply the annual exempt allowance, which results in an overall loss of £4000.00.  
This loss of £4000 can be carried forward.  You are able to amend your 20/21 tax return up to 31 Janauary 2024.  
After that date the tax return cannot be amended and you would need to claim losses in writing.  
You have 4 years in total to claim losses.
Thank you.

Hi,
Customers can send virus-free additional information as electronic PDF attachments when they file their SA returns online.
No other type of online attachments will be accepted by the department.
Full details of HMRC's policy in this regard are provided here:
SAM126040
Thank you.

Hi,
There is no CGT at the time of transfer as its a non gain/no loss situation. however, if/when you decide to sell, this is when the gain will arise and the cost price is the value from 2011:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you

Hi,
As a 'digital nomad' living overseas, you will continue to pay the same level of UK tax on your UK employment in any  tax year in which you spend 183 days or more in the UK (and are therefore deemed to be tax resident in the UK).
If and when your residency position changes, you should advise HMRC of the change in your residency situation via your Self Assessment tax return (if you are already within Self Assessment) or by completing form P85, at which point HMRC may amend your tax code to avoid double taxation.
Thank you.

Hi,
Your whole tax return must be submitted on the same format, ie paper or online.  
If you are able to verify your identity and obtain a government gateway user ID and password, you can buy commercial tax return that allows you to submit the tax return online, including the residence section.
A list of commercial providers can be found at:
Self Assessment commercial software suppliers.
 If you cannot verify your identity, you will need to submit the whole tax return on paper.
Thank you.

Hi,
You would only declare the UK bank interest on the for P85 for the tax year.  
Thank you.