HMRC Admin 8 Response
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RE:Cash basis & First letting - are legal and agent's fees deductible?
Hi,
Thank you for your question. Expenditure on professional fees of a revenue nature is deductible if they are incurred for the purposes of the rental business.
The expenses incurred in connection with the first letting of a property for more than one year are capital expenditure and therefore not allowable.
The expenses include, for example, legal expenses (such as cost of drawing up lease), agent’s and surveyor’s fees and commission.
Expenses for a let of a year or less are deductible.
The normal legal and professional fees incurred on the renewal of a lease are also allowable if the lease is for less than 50 years.
Further information is available at:
PIM2120 - Deductions: main types of expense: legal and professional costs
Thank you. -
RE:Rent a Room Scheme in Rented Apartment
Hi,
Rent-a-room applies to income from providing furnished residential accommodation in the taxpayer’s only or main residence.
For example, a taxpayer may benefit where they take in a lodger.
Rent-a-room applies to people who let a room in a home they rent as well as to people who own their homes.
Your question regarding taxation and expenses is covered at PIM4030. The rules either exempt rental income or tax it on a more favourable basis. Under the rent-a-room scheme a taxpayer can be exempt from Income Tax on income from furnished accommodation in their only or main residence if the gross receipts they get (that is, before expenses) are £7,500 or less, see PIM4012. But they can’t then claim any of the expenses of the letting, see PIM4020.
Further information is available at:
PIM4001 - Rent-a-room: overview
Thank you. -
RE:Student Loan Salary Dedudctions
Hi,
If you have already spoken to the student loans company and a stop notice has been issued you can check if HMRC have received this by calling the helpline:
Income Tax: general enquiries
Repaying your student loan
Thank you -
RE:Tax refund where wages unpaid
Hi,
We cannot answer this question as we need access to your records, can you please therefore contact the HMRC helpine:
Income Tax: general enquiries
Thank you. -
RE:i registered too early
Hi,
If you do not meet the criteria for 2023/24 then this tax year can be cancelled and the Self Assessment left open for the 2024/25 tax year.
To review and update this you can contact HMRC at:
Self Assessment: general enquiries
Thank you -
RE:i registered for self assessment
Hi,
Once you recieve your UTR, if you no longer need to file a 23/24 return, you need to contact HMRC so that we can cancel your need to file that return You can do this via:
Self Assessment tax returns, or by contacting us by webchat or phone via:
Self Assessment: general enquiries
Thank you. -
RE:Calculation of taxable state pension in first year of entitlement
Hi,
To check on the state pension received for 2023/24 we would need to access your record.
You can contact HMRC to check the figure:
Self Assessment: general enquiries
Thank you. -
RE:Rebate Submission
Hi,
We are currently working claims received on 4 June 2024, which means you should expect a reply by 20 October 2024.
This date is an estimate and may change.We will contact you if we need any more inforamtion.
You can use your Personal Tax Account to track and trace certain forms (P55 is on the list) and to view recent activity:
Personal tax account: sign in or set up
Thank you. -
RE:Offset Part Pension to Wife
Hi,
Marriage allowance can be claimed against any income providing the eligibility criteria are met:
Marriage Allowance
Thank you. -
RE:Part time second job tax
Hi,
The tax free allowance for 2024/25 is £12,570. So this is then given over the course of the tax year Apr 24 - March 25.
This allows you to earn 1047.50 every month before tax is deducted.
Anything unused that month will roll forward to the next month.
Thank you.