HMRC Admin 13 Response

Hi 
If your son has not already done so, guidance on notifying HMRC when leave the UK to live abroad can be found here: Tax if you leave the UK to live abroad
Guidance on telling HMRC that you believe you no longer need to send a tax return can be found here: Self Assessment tax returns: If you no longer need to send a tax return
Thank you
 

Hi
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum nor access your records to check tax codes or deductions. 
You can contact our helpline:
Income Tax: general enquiries
On this page you will see a link to personal tax account: sign in or set up which may be the quickest way to review information relating to tax codes and change them.
Thank you

Hi HMRC can confirm that the advice already given by colleagues (HMRC Admins 2 & 19) is correct. In your circumstances you can agree a different split of profit or loss as opposed to the normal 50/50 split. We can also confirm that no deed of trust would be required. Thank you

Hi
BIM45820 - Specific deductions - incidental costs of loan finance: exclusions from relief - HMRC internal manual - Premiums and break charges states 'Some loans include terms under which the interest charged is at a lower annual rate in the early years of the term and increases later. 
A borrower who wishes to repay early will have to pay the lender a charge (called break charges in this guidance). 
Whether break charges are incidental costs of obtaining loan finance will depend on the facts of the particular arrangement. 
If such charges amount to a premium, they are expressly disallowed. 
Then under ‘What is the nature of the break payment’ states 'The majority of break payments that take the form of a penalty for early redemption of the loan will represent genuine compensation to the lender. 
In such circumstances the break payment will not amount to a premium and will therefore attract relief as incidental costs of raising loan finance. If the circumstances of your early redemption charges fall into this second category and don't amount to a premium then they would be an allowable expense.
Thank you

Hi You would just work out the net overpayment not the gross and amend the tax month that this was overpaid. The ability to amend previous FPS should be a facility available in your software so we would advise you speak to your software provider. Thank you

Hi
It may be useful for you to read the following guidance which provides examples of various types of travel. 
•    Business journeys tax relief (490: Chapter 5) 
•    Special tax rules on foreign travel (490: Chapter 7)

The Tax and National Insurance contributions for employee travel: 490 carries all guidance and provides references to the relevant legislation 
Thank you

Hi Corporation tax payable is calculated on a company's profit which is ascertained by preparing statutory accounts including a profit and loss statement and corporation tax computations. HMRC cannot provide accounting related advice, you will need to seek help from an accountant or financial advisor. Thank you

Hi
The legislation applies to all companies as defined at Corporation Tax Act 2010 Section 1121, including unincorporated associations, other than: Close investment-holding companies, defined at Corporation Tax Act 2010 Section 18N. 
Further information is available at CTM03951 - Small profits rate: financial year 2023 onwards: close investment holding companies - HMRC internal manual & Non-resident companies chargeable to CT via a permanent establishment, unless a treaty non-discrimination article applies at CTM34210 - Residence: non-resident companies: liability to CT - HMRC internal manual.   
Please refrain from posting duplicate questions on the forum to allow HMRC time to respond to the original 
Thank you                                                                        

Hi
The legislation applies to all companies as defined at Corporation Tax Act 2010 Section 1121, including unincorporated associations, other than: Close investment-holding companies, defined at Corporation Tax Act 2010 Section 18N. 
Further information is available at CTM03951 - Small profits rate: financial year 2023 onwards: close investment holding companies - HMRC internal manual & Non-resident companies chargeable to CT via a permanent establishment, unless a treaty non-discrimination article applies at CTM34210 - Residence: non-resident companies: liability to CT - HMRC internal manual.
Thank you