HMRC Admin 8
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Re: Pension Pot
Hi,
You cannot use any of yor earlier years personal allowances to reduce the tax due. you would only be entitled to the allowances in the year the pension is taken. should this be over £12570, your pension will be taxed.
Thank you. -
Re:When to send an Individual DT
Hi,
The DT individual form is used by HMRC to confirm that pensions including state pension are being declared as income in another country, allow for UK tax to be refunded into a UK banks account either through a cheque or bank transfer.
For France, the form is found at:
https://www.gov.uk/government/publications/double-taxation-united-kingdomfrance-si-2009-number-226-form-france-individual.Please download and print the form. Complete it to declare your excisting pensions, including state pension.
Please send the completed form, signed and dated to the French tax authorities (you will need to find out their address).
The French tax authorities, will validate the form, confirming the income is taxable in France and return it to you.
You in turn will send the validate form to H.M. Revenue and Customs Pay As You Earn BX9 1AS, who can arrange to refund any overpaid tax to you.
Thank you. -
Re:Capital gains & gifting property
Hi,
The person gifting the property would be liable for the gain on the difference in value. if it has been your only and main home for the whole period of ownership, no gain will be due:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. -
Re:Private Residents Absence Relief
Hi,
Yes. Private residence relief is only available where the property was your main residence for a period of time, during your ownership of the property.
If you have not previously advised HMRC that it was your main residence, HMRC will determine your main residence based on the facts of the case.
Thank you. -
Re: r43
Hi,
If submitted in December itshould have been reviewed by now. If you have still not received a reply then you will need to contact HMRC to review: Income Tax: general enquiries
Thank you. -
Re:Tax on change from exercise of approved share options
Hi,
Employment-related securities are securities you acquired because of your employment, when your employer (or someone connected to your employer) gave you (or another person) an opportunity to acquire them.
The most commonly provided securities are: shares in a company (wherever incorporated) or in an unincorporated body constituted under the law of a country or territory outside the United Kingdom (UK) debentures, loan stock, bonds and other debt instruments.
You only need to complete the ‘Share schemes’ box, box 1 on page Ai 2 if: your employer has not deducted tax from the whole of the taxable amount your employer tells you that the valuation used to arrive at the taxable amount for PAYE, was lower than it should have been — the taxable amount which has not had tax deducted due to this difference should be entered in the ‘Share schemes’ box 1.
You do not complete the ‘Share schemes’ box for taxable amounts which your employer has fully taxed. Normally these amounts are already included in your P60 (or, where you’ve left employment, P45) which are included in the Employment pages. Please have a look at helpsheet HS305 for more information by searching www.gov.uk for 'HS305.
Thank you. -
Re:SIPP personal pension relief at source
Hi,
Tax relief is due in the year the payment is made and the deemed date of payment depends on how the payment is actually made. please refer to: Deemed date of contributions
Thank you. -
Re: CGT on 2020 gains, carry over of 2021 losses
Hi,
It is likely that a fine will be imposed for late submission of the informatoin. Interest will also be charged for late payment.
Thank you. -
Re:Salary Sacrifice on proceeds from unapproved share options
Hi,
Your employer should deduct tax and NIC on the payment. You can pay the net figure into your pension scheme and have your pension provideer claim tax relief, you would then need to claim higher rate relief on penson payments, if you pay tax at the higher rate or additional rate.
Thank you.
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Re:Tax on future payments on exercising options on unapproved share scheme
Hi,
Please have a look at the guidance at:
HS305
Employment-related shares and securities (Self Assessment helpsheet HS305
Thank you.