HMRC Admin 13 Response
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RE: Income from Overseas Properties can be split (90%:10%)?
Hi
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum. This forum is for general queries only and is intended to help you self-serve.
For an accommodation to qualify as a furnished holiday let the property must be within the UK or EEA.
Further guidance regarding Furnished Holiday Lettings can be found on our website under HS253 Furnished holiday lettings (2024).
Guidance regarding assured short term tenancy can be found at:Tenancy agreements: a guide for landlords (England and Wales): Tenancy types and
[ARCHIVED CONTENT] Assured and assured shorthold tenancies: a guide for landlords - Office of the Deputy Prime Minister (ODPM) (nationalarchives.gov.uk)
There are different rules and qualifying conditions for each so you need to consider what is applicable within the guidance to your circumstances.
You each declare your share of the property income and any allowable expenses incurred on your self-assessment form separately.
Customers with more complex enquiries like this often engage the services of a professional advisor or accountant and this may be something you wish to consider.
Thank you -
RE: Rental income - apportionment with non married partner
Hi
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum. This forum is for general queries only and is intended to help you self-serve.
However following on from your previous question when entering a declaration of trust, this would essentially transfer a certain percentage of beneficial interests in the property, i.e. rental income and any expenses, without transferring legal ownership to the other party.
There would be no stamp duty/capital gains applied.
A Deed of Trust on the other hand, transfers the legal title to a third party, so any Stamp Duty/Capital Gains may apply.
Customers with more complex enquiries like this often engage the services of a professional advisor or accountant and this may be something you wish to consider.
Thank you -
RE: Rental income: allowable expenses (box 29) related to travel
Hi
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum. This forum is for general queries only and is intended to help you self-serve.
If your trip is wholly and exclusively for the purpose of the rental property business and no personal aspect is carried out, i.e. to see a concert, for a vacation etc, then flight and train expenses would be classed as allowable expenses.
Overnight accommodation is also an allowable expense as they would be classed as required to conduct business matters.
See guidance at: PIM2220 - Deductions: main types of expense: travelling expenses - HMRC internal manual and Claim tax relief for your job expenses: Travel and overnight expenses.
Customers with more complex enquiries often engage the services of a professional advisor or accountant and this may be something you wish to consider.
Thank you -
RE: Calculate the deduction for a tax year of an amount of a 5 year cost for a letting property
Hi
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum. This forum is for general queries only and is intended to help you self-serve.
In this instance we would direct you to the guidance at: PIM2010 - Deductions: general rules: applying the wholly & exclusively rule - HMRC internal manual
Customers with more complex enquiries often engage the services of a professional advisor or accountant and this may be something you wish to consider.
Thank you -
RE: Repaying R&D Monies During Investigation
Hi
As stated at the top of this Forum we have no access to R&D claims nor can progress chase or provide advice.
This forum is for general queries only and is intended to help you self-serve.
The correspondence you have received will detail the next actions you must take and the contact details for further information.
If the company has any concerns regarding their claim or the reasons for the investigation, they should seek professional help from a reputable R&D agent.
Thank you -
RE: Relief from UK interest withholding tax
Hi
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum. This forum is for general queries only and is intended to help you self-serve. We cannot progress chase cases either.
Customers with more complex enquiries often engage the services of a professional advisor or accountant and this may be something you wish to consider.
Regarding the FORM DT Individual.
We can only direct you to Check when you can expect a reply from HMRC or Income Tax: general enquiries for progress chasing
The CT61 return is used by companies to report & pay the income tax deducted from company payments.
This tax is applicable to interest.
For further information please refer to guidance at: Corporation Tax: return of Income Tax on company payments (CT61)
Thank you