HMRC Admin 8 Response

Hi,
We are unable to give financial advice.
The following link gives information around how to work out adjusted net income:
Personal Allowances: adjusted net income
Thankyou.

Hi,
Tax is paid on the amount of taxable income remaining after allowances have been deducted.
The basic rate band is £1 - £37,700 - 20%. For example, if your income is £50,271, your personal allowance (from your example) of £12,070, would be deducted from this leaving £38,201. £37,700 would be taxed at 20% leaving the remaing £501 taxed at 40%.
Thankyou.

Hi,
Please refer to guidance at:
Tax when you sell property
Thankyou.

Hi,
HMRC cannot advise you  on how to make the payment as that is your decision. with regards to the 7 year rule, as its a joint account it would be 32k.
Thankyou.

Hi,
HMRC will contact you in due course to confirm as any interest received in the 2nd account will not have the ISA protection and will form part of your savings allowance and be taxable.
Thankyou.
 

Hi,
You will still be classed as a British national no matter where you live, it is just your tax residence that will change
Thankyou.

Hi,
That is correct.
Thankyou.

Hi,
Please contact HMRC by webchat or phone via:.
Income Tax: general enquiries
We can remove the allowance for all years affected, calculate the amount due, and advise you on your repayment options, depending on the underpayment calculated.
Thankyou.

Hi,
Capital gains is likely on the 1st property as it has not been your main residence for the whole period of ownership and you have confirmed the 2nd property was your main residence:
HS283 Private Residence Relief (2024)
Thankyou

Hi,
To check your existing protection, you need a Government Gateway user ID and password. If you do not have a user ID, you can create one when you check.
Thankyou.