HMRC Admin 13 Response

Hi.

If the landlord has not Opted To Tax then the landlord will not charge you VAT on the lease and they would be unable to recover VAT as input tax on work carried out to the building.
If you incur VAT then please see the conditions for your business to treat this as input tax:

VAT guide (VAT Notice 700) Section 10

Opting to tax land and buildings (VAT Notice 742A)

Thank you

Hi 

We can't see that there would be any gain for your client paying what is owed into your personal account. 
If anyone had anything to gain it would be you as the director of the company. 
It depends on your bank, some banks terms won't allow the use of personal accounts to trade or do business. 
Realistically, the money should be paid direct into your Limited company business account. 
If your bank accepts the payment into your personal account, you could transfer the monies direct into your business account, providing you keep all records and account for everything correctly, such as the date of when the transactions/transfers took place. 
You may wish to check with your bank first. 
Please refer to guidance at: Invoicing and taking payment from customers: Payment - obligations

Thank you

Hi If the assets were subject to capital allowances, a balancing adjustment should be made to record the market value at disposal. This will give rise to either a balancing allowance or a balancing charge. Corporation tax is payable on any charge. It really depends on the nature of the asset and how it has been treated thus far. Also, the director would need to consider whether to record the receipt in his/her personal tax return. Form DS01 can be submitted after all the company's affairs have been concluded. All creditors have the right to object. If net assets exceed £25000, liquidation will need to be considered if the assets are not to be disposed of by way of a dividend. Thank you

Hi We would need to access your record to look into your enquiry and we can’t do this on this forum. Please call HMRC Employer Helpline on 0300 200 3200. Thank you

Hi If the plan gives a breakdown of each cost separately i.e. • the amount for the eye test, • the annual check-up, • dental cover etc then the amounts relating to the taxable benefits would be reported on P11D for the employees. If there is no breakdown, then the full amount would need to be reported on P11D as a taxable benefit. For previous tax years you will need to submit amended P11Ds for the affected employees including employees who have left and amended P11D(b) for the years concerned paying over the additional Class 1A National Insurance due. Once the amendments have been processed the employees will be notified of any changes to their tax codes to take account of this previously untaxed benefit. Thank you

Hi Cherry

If you are working in the UK for a non-UK based employer who has no presence in the UK, you will need to set up a Direct Payment scheme to report your earnings. 
You will need to report the salary before the pension deductions when processing the payroll. 
You have an option to set up a scheme for tax and NI (DPNI) or just NI only (DCNI). 
If you set up an NI only scheme, then you will need to register for self-assessment also as you will need to complete a self-assessment return to declare your income for tax purposes. 
To set the scheme up please call HMRC Employer Helpline on 0300 200 3200. 
Information regarding what we would consider a place of business in the UK can be found at paragraph 4.5 of CWG 2  2024 to 2025: Employer further guide to PAYE and National Insurance contributions.

Thank you

Hi 

If you are working in the UK for a non-UK based employer who has no presence in the UK, you will need to set up a Direct Payment scheme to report your earnings. 
You will need to report the salary before the pension deductions when processing the payroll. 
You have an option to set up a scheme for tax and NI (DPNI) or just NI only (DCNI). 
If you set up an NI only scheme, then you will need to register for self-assessment also as you will need to complete a self-assessment return to declare your income for tax purposes. 
To set the scheme up please call HMRC Employer Helpline on 0300 200 3200. 
Information regarding what we would consider a place of business in the UK can be found at paragraph 4.5 of CWG 2 2024 to 2025: Employer further guide to PAYE and National Insurance contributions

Thank you

Hi Yash We are unable to answer queries relating to issues with personal records. If the previous employer has submitted an End of Year update it should show all of your pay and tax to the date you left. This would then be added to the income of your current employer till the end of the tax year. If you are disputing either salary figure or underpayment please contact HMRC Personal Taxes Helpline on 0300 200 3300. Thank you

Hi Elle If a beneficial loan, made to the employee, during the tax year does not exceed £10,000 there is no taxable benefit, and you (the employer) do not need to report it on P11D. The beneficial loan would be free of PAYE Tax and NIC if it does not go over £10,000 at any point in the tax year. Thank you

Hi HTRP For the accounting of "made good" on a benefit in kind, the director will need to say what item they are making good on. The outstanding items can then be processed via the payroll or on a P11D as needed. The DLA is not a bank account and should not be run like the directors personal current account. The DLA - An overdrawn director’s loan account is where the director has taken money out of the company that is not classed as a dividend or salary and the figure exceeds any money he/she has put into the company. At this point, the director will be deemed to be benefitting from a director’s loan. If the loan exceeds £10,000 at any time in the year then a benefit in kind has to be calculated on the director’s form P11D. If the loan is written off it is subject to NIC, through payroll. The director should include this amount in his SA return and it will be treated as a deemed dividend. It is not reported on P11d – as we would do for a normal beneficial loan that has been written off. If you are unsure whether you should treat the loan as earnings or a beneficial loan, you would need to speak to our Corporation Tax Helpline on 0300 200 3410 Thank you