HMRC Admin 19 Response

Hi,

As a UK resident, you are taxable on your worldwide income.

An employee who acquires shares in connection with his or her employment either free, or in return for a payment that is less than the value of the shares at the time of acquisition, will be chargeable to tax under Part 2 or Part 7 ITEPA 2003.

If a tax charge arises on an award of shares, or when shares are acquired on exercise of an option over shares, Part 11 Chapter 4 ITEPA 2003 requires the employer to operate PAYE if the shares are readily convertible assets.

Employee share schemes are classified as tax advantaged or non-tax advantaged. The main difference is that employees do not usually pay Income Tax when they acquire shares under a tax advantaged scheme. You can see further guidance here:

Tax and Employee Share Schemes

Thank you

Hi,

The definition of a temporary place of work is more than being a period of less than 24 months. The legislation below can be used to determine the outcome, based on the facts of the case.

Income Tax (Earnings and Pensions) Act 2003

Thank you.

Hi Beyondourken Anon

HMRC will always assume that joint property is owned in a 50/50 split.

If you wish to amend the beneficial interest you will need to submit form 17 signed by yourself and your wife showing an unequal split. We will need to see a valid declaration of trust as evidence.

If any situation changes, you should again submit form 17 with another declaration of trust to make the previous one invalid. A valid declaration of trust will show for capital gains purposes evidence of the actual beneficial split of interest in calculating capital gains liability. Without this information HMRC will regard any future sale as 50/50. You can see guidance here:

CG70230 - Land: legal and beneficial interests in land

Thank you.

Hi,

DWP would advise which tax year would be required to ensure the full pension so you would need to check with the Future Pensions Centre.

Contact the Future Pension Centre

Once you have spoken to them, and if you establish that the payment needs to be allocated to the 2022 to 2023 tax year instead, you would then need to contact our National Insurance team.

National Insurance: general enquiries

Thank you.

Hi,

We are sorry that you have been unable to get through to the National Insurance Helpline due to the large volume of telephone calls that have been generated due to the extension to the 31 July 2023 for payment of voluntary NI contributions to enhance your State Pension.

You will be pleased to know that the time limit has now been extended to 5 April 2025 for payment of voluntary NI contributions.

If you have sent in cheques, please ensure that you have noted the back of the cheque with your National Insurance number and enclose a covering letter to explain what the payment is for.

Thank you.
 

Hi Tigercrab,

As this is hypothetical and based on future events, HMRC are unable to comment as legislation could change, as could individuals plans.

Thank you.