HMRC Admin 8 Response

Hi,
You can either leave them on the payroll for the purpose for providing the benefit or add them back onto the payroll after being made a leaver.
Thank you.

Hi,
The company’s legal obligations to Companies House are completely separate to HMRC. We can only assist in respect of Corporation Tax.  For guidance please see below:
Set up and run a flat management company
You will note that you must send a Company Tax Return no later than 12 months after the end of the company’s first financial year.  
We may then agree to treat the company as ‘dormant’ after, in which case Company Tax Returns wouldn’t be required for later years provided the company does none of the following:
•    allow directors who aren’t residents or leaseholders to be appointed in its articles of association
•    does more than manage the property in the interests of shareholders
•    make a profit
•    need to pay more than £100 in Corporation Tax in a year
•    get any income from land
•    pay dividends or other payments from profits to shareholders
•    own any assets it is likely to dispose of which would give rise to a chargeable gain
•    make payments that need to be taxed
•    When the company must always send a Company Tax Return
Your company must send a Company Tax Return every year if:
•    HMRC doesn’t write to confirm they think the company is dormant
•    the company starts doing any of the things in the list above, even if HMRC has previously said the company is dormant.
Thank you.

Hi,
You should be able to file an amended return for year ended 2022 to include the losses carried forward from year ended 2021.
You can separately carry back the loss of £5k from year ended 2023 to year ended 2022.
Thank you.
 

Hi,
We would advise you that any income received from letting out a residential property is VAT exempt which means that you cannot charge VAT on any rents.
The other side of this is that you cannot claim back any VAT paid in respect of the rental property expenses, repairs and accountants fees etc as a business expense.
In your example you could only claim the £850 that you paid to an accountant.
Thank you.

Hi,
We would advise you that due to the fact that your intention appears to  sell the property rather than rent it out again in the future then you will not be able to claim any expenses against that property after the date the tenant moved out as any expenses incurred would not be classesd as being wholly and aexclusively in respect of the property business:
PIM2510 - Beginning and end of a rental business: cessation
Thank you.
 

Hi,
If the two rental properties are jointly owned with your wife then you are both treated as having equal shares in the properties so any rental income received must be split and taxed in equal shares (50:50).
If you wish to transfer 100% of the rental income to your wife then you will need to fill in a Form 17 and also obtain a Deed of Trust and send both items into HMRC to support your claim.  
Declare beneficial interests in joint property and income
Thank you.

Hi,
Please refer to:
Tax when you sell property
and Tax on foreign income.
You may also wish to refer to the Statutory Residency Test and how it may apply to your circumstances 
Thank you.

Hi,
More information about written declaration of trusts can be found below:
TSEM9520
If you send us a copy of the declaration we will acknowledge this in writing.  
Thank you. 

Hi,
Please refer to:
TSEM9520 for details on how to make a written declaration of trust. Taxation of income is based on beneficial ownership:
TSEM9305
TSEM9130
Therefore depending on the split of beneficial ownership you would declare this share of rental income and expenses.
Mortgage relief can only be claimed by the person whose name the mortgage is in however if your wife gives you 100% share as a beneficiary they are no longer a beneficiary of the rental income and no-one can claim the mortgage tax relief.
You can choose what bank account the rental income is paid into, single or joint.
Thank you.

Hi,
Please use the box 'date started receiving the foreign income' and put the date that you received your first foreign income from property payment.
You may not owe any tax at all as usually the tax that you paid in the country that this property is situated in can usually be declared on your return & offset against any potential UK tax owing.  
For further guidance:
The Let Property Campaign
Thank you.