HMRC Admin 32 Response
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RE: Tax relief on pension contributions - am I a tax payer?
Hi,
Your tax free threshold for your pension payments is the lower of your annual earned income or £60,000. If you have no earned income, the maximum that can be paid tax free is £2880.
Your pension provider would then claim 20% tax from HMRC to pay into your pension, allowing you to save £3600 to your pension tax free.
Any amount you pay in above this threshold, results in a pension savings tax charge and must be declared in a Self Assessment tax return.
Thank you. -
RE: Pension Fund from Singapore into the UK
Hi,
We cannot tell you what to do with these funds or where to store them. If you are UK resident when you receive the pension, you would have to declare it in a Self Assessment tax return, as you may have tax to pay in the UK.
Thank you. -
RE: CGT on crypto, mixed residence
Hi,
We can only provide general information and guidance in this forum. For an answer to a detailed question of this nature, you would need to contact our Self Assesment team below or seek professional advice.
Self Assessment: general enquiries
Thank you. -
RE: compensation received as a result of negotiated out of court settlement
Hi,
Please have a look at the guidance below, regarding personal compensation or damages and how Capital Gains Tax is charged.
CG13030 - Compensation: personal compensation or damages
Thank you. -
RE: Money from selling property oversea
Hi,
This appears to be in relation to stamp duty and as such you should refer to:
Stamp Duty Land Tax
Thank you. -
RE: Taxation of Pension Commencement Excess Lump Sum
Hi,
Please submit a form P53 to claim back any excess tax decucted from your lump sum.
Claim a tax refund when you've taken a small pension lump sum (P53)
Thank you. -
RE: Free childcare tax calculation
Hi,
Unfortunately, it is not possible to review personal matters in this forum. For individualised assistance please contact our Self Assessment team below.
Self Assessment: general enquiries
For details on adjusted net income at:
Personal Allowances: adjusted net income
Thank you. -
RE: Unable to log onto HMRC self assessment portal
Hi,
I am sorry you are having issues accessing your online account. Unfortunately, it is not possible to review personal matters in this forum.
For individualised assistance please contact our self assessment team below.
Self Assessment: general enquiries
Thank you. -
RE: Moving abroad
Hi,
Each tax year is reviewed separately. If you have paid the correct amount of tax in the previous years, there would be no refund due. The P85 would include your P45 from the employment you left, so that any overpaid tax can be calculated.
Thank you. -
RE: Reporting disposal of foreign investment even though no funds released yet?
Hi,
The disposal of foreign assets, should be reported in a Self Assessment tax return, for the tax year in which the disposal occurs.
You can register for self assessment below, if you have never registered before.
Check how to register for Self Assessment
Thank you.