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  • RE: Car Allowance And Millage

    Hi,
    Advisory Fuel rates are for company cars however it is between you and your employer how much they pay for business mileage in your own car.
    If they pay less than the approved rates, you can make a claim to HMRC's Personal Tax Department for tax relief on the difference,
    please see the following on gov.uk:- Claim tax relief for your job expenses
    Thank you.
     
  • RE: Redundancy severance payment and tax

    Hi,
    The payment will be taxed as normal in your April salary.
    If not working then you may be due a refund based on this being your annual income.
    Claim back Income Tax when you've stopped working (P50)
    Thank you.
  • RE: CGT on Remortgaged Property

    Hi,
    Yes you can claim.
    You would need some sort of evidence to show how much you paid.
    If not, you will need to have a reasonable estimate of what it cost and make reference to this in your calculation.
    Thank you.
  • RE: Transferring personal money to UK

    Hi,
    You would need to work out if you have a capital gain arising from the disposal of this property, using the UK rules.  
    You would need to convert the inherited value from Pakistan Rupees to pounds sterling and the disposal value, using exchange rates in use at the time.  
    The disposal should be declared in a self assessment tax return, even if no capital gains tax is payable.  
    Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal. For your convenience, there are exchange rates at Exchange rates from HMRC in CSV and XML format and for older rates at Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009.
    You are free to use any of the supplied rates or one of your own choosing. 
    Thank you.
     
  • RE: Accommodation Offset

    Hi,
    The accommodation offset is neither a pre tax or post tax deduction. 
    Accommodation is the only benefit in kind that can count towards the National Minimum Wage and special rules apply when calculating a worker’s National Minimum Wage pay.
    These special rules are known as the accommodation offset.
    The accommodation offset only applies when both:
    •    the employer is regarded as responsible for the provision of accommodation to the worker, and
    •    the accommodation is suitable to be considered “living accommodation”.
    When both these conditions are satisfied National Minimum Wage pay should be calculated using the accommodation offset unless the accommodation is provided by a council or social housing provider when special provisions apply in certain circumstances.
    The calculation will differ depending on whether the employer provides living accommodation to the worker free of charge, or whether the employer charges the worker for the living accommodation. 
    If the accommodation offset does not apply, any charge the employer makes for accommodation must be considered by applying the National Minimum Wage deduction and payment regulations in the normal way.
    You can find out further information about the accommodation offset and the impact on NMW pay by visiting: National Minimum Wage and Living Wage: accommodation
    Alternatively, if you require any further support, please seek independent legal advice, or contact The Advisory, Conciliation and Arbitration Service (ACAS) on 0300 123 1100.
    Thank you.
  • RE: Minimum wage and holiday pay

    Hi Bridget,
    HMRC cannot comment on specific arrangements without undertaking a full National Minimum Wage investigation.
    HMRC can only provide general advice and signpost to available guidance.  
    When calculating national minimum wage pay, a worker’s total remuneration in a pay reference period is reduced by any money payments paid in respect of periods of absence from work; for example, when they are sick or on holiday.
    How the absence is treated depends on whether you are performing salaried hours work, time work, output work or unmeasured work.
    For more information, please refer to: Working hours for which the minimum wage must be paid
    If you are concerned that you are not being paid what you are entitled to you can raise a complaint to HMRC using our online form:  
    National Minimum Wage enquiries and complaints
    Alternatively, if you require any further support, please seek independent legal advice, or contact The Advisory, Conciliation and Arbitration Service (ACAS) on 0300 123 1100.
    Thank you.
  • RE: Reporting CGT on Overseas Property sale

    Hi Sidney Zafar,
    In reply to your questions.
    1. yes you can get an estate agent to give you a valuation based on similar properties sold at the same time it was inherited.  
    2. foreign property does not get reported on the property disposal form.
    For sales up to 5/4/25, this would be reported on the 24/25 tax return and you have until 31/1/26 to file.
    Thank you.
  • RE: Losses on Furnished Holiday Let

    Hi,
    You can contact us on +44 135 535 9022 for details.
    Thank you.
  • RE: Accounting Reporting dates

    Hi,
    Please refer to the following guidance for more information -
    Change your company's year end
    and
    Accounting periods for Corporation Tax
    Thank you.
  • RE: State Pension Query.

    Hi Carol McWilliam,
    As your National Insurance contributions were paid correctly they are not, unfortunately, available to be refunded to you.  
    Any contributions that you may have paid must remain recorded on your UK National Insurance account.  
    If you do return to UK employment then you should use the same National Insurance Number that you have and future contributions will be recorded on that account.
    Thank you.