HMRC Admin 17 Response
Joined: 1/20/2021
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RE: Can two limited companies share one business bank Account
Hi,
This is not for HMRC to say. we have not set any rules about what a company uses as a bank account.
You may wish to speak to the bank account provider to see if they have an issue with it.
Thank you . -
RE: Deductibility of interest expense and capital allowance/ tax depreciation
Hi ,
I cannot give definitive answer as we do not give tax planning advise, you may need to speak to a financial/tax advisor.
Please review the guidance at https://www.gov.uk/hmrc-internal-manuals/capital-allowances-manual/ca22000, and https://www.gov.uk/hmrc-internal-manuals/capital-allowances-manual/ca30000, this should help you identify
if the property your company owns can claim capital allowances.
If you have any issues deciding if your property can be included, then you should seek assistance for a financial/tax advisor.
Thank you . -
RE: Tax relief on mortgage interest - question
Hi,
I cannot give definitive answer as we do not give tax planning advise, you may need to speak to a financial/tax advisor.
I believe because you are paying a personal mortgage, this would potentially be treated as a benefit in kind or directors renumeration.
So, you may be able to count it as an expense but will have to personal tax on it.
Any profit made by the company may be subject to corporation tax.
You may also want to speak with Pay as you earn, and self-assessment to see their view point on the matter.
Thank you .
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RE: Local forms for Withholding tax
Hi ,
You would need to fill in you part before we can agree and stamp it. The double taxation agreement between us would set out if a wet signature is required. They should accept the form as completed.
If they are trying to make amendment to what certificates off residency contain or how the form is to be completed, they would need written verification from the appropriate tax authority to confirm this.
I would recommend you check with the foreign tax authority, and if they say the acceptable, then I believe your customers are obligated to accept them. However, I can not say for certain as this is out of our jurisdiction.
If you receive the written confirmation, saying this is need send it in with the request and we can investigate signing the originals for you.
Thank you -
RE: Certificate of tax residency -still waiting after 2.5 months
Hi,
I understand, but we are unable to take this matter forward through this forum, so you will have to try and get through on the contact centre and they can escalate it. Or you can resend your request by letter.
I would recommend resending the query, even if you decide to call, in case the reason for the delay is because we have not received it. at least that has been covered.
Thank you . -
RE: Employer substitute P60 - Employees Payroll number (where appropriate)
Hi ,
As the RD1 guidance does not specifically mention that you can change this would suggest we wouldnt recommend changing this.
Thank you . -
RE: Another HMRC error and this time seeking swifter resolution
Hi ,
I'm sorry for the issues you and your clients have experienced.
I cannot comment on specific cases on this forum however if you contact us on 0300 200 3200 we can look into resolving
any outstanding issues, this is due to the fact we would need to access the actual schemes to investigate .
Thank you . -
RE: Printing payslips in Basic Payroll
Hi ,
If you go into each payment it should give you the option at the bottom to print it .
Thank you . -
RE: Need to correct and resubmit P11D(b) as 1 Directors Car benefit was missed.
Hi ,
Please contact the Online Support Helpline for help with regards to this on 0300 200 3600.
Thank you . -
RE: Deed of Assignment of Rental Income & Tax deductible expense
Hi,
Thank you for your question.
If you retain the ownership of the property and just intend to assign any income arising from this to your wife you would remain liable on that income and it would be up to you to claim any expenses.
For your wife to become liable to the tax on this income you would have to transfer the actual beneficial
ownership of the property itself to her.
Thank you .