HMRC Admin 17 Response
Joined: 1/20/2021
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RE : Child Benefit
Hi ,
As long as you requested not to have non PAYE income included in the tax code then your tax code will not be amended
to collected the high income child benefit charge, HICBC.
If you tax code has been amended then you will need to contact HMRC to review :
Self Assessment: general enquiries .
Thank you . -
RE : Clarification on Foreign Dividends and Foreign Tax Credit Relief
Hi ,
If you are completing the tax return online, there are up to 20 lines.
For a paper tax return, please attach a page to SA106, details the dividends from each country in the same format, as shown on SA106.
In this way, the total in box 6 will match the dividends declared.
If special witholding tax is deducted, the total deducted in declared in box 5 and a 'X' stating you wish to claim a FTCR.
If UK tax is payable on the dividends, then you claim a tax credit in box 2.
If no UK income tax is payable, then there is not credit, as there is nothing to set it against.
Thank you . -
RE: sold a foreign residential property for rent and recorded a loss
Hi ,
Yes, you can gift crypto to your wife at your acqusition cost and she can set her loss against this gain.
The loss can be carried forward to a future tax year, so the gain does not need to be in the same tax year as the loss arises.
Thank you . -
RE : Reporting an investment disposal
Hi ,
"You can submit your tax return now if you want and include estimates for this income / capital gain.
You tick the box to state there are provisional figures in the return.
You can then amend your return at a later date to declare the actual figures.
This will allow you to submit the return by the due date of 31 January and pay the tax, to avoid penalties and interest
and give you the time necessary to obtain the actual figures.
Thank you .
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RE: BIK Private Medical Insurance
Hi ,
I would suggest in order to discuss this in more detail and to ensure everything is clear for you,
you contact us on 0300 200 3200 .
Thank you . -
RE: Reporting requirement if payment made from UK Company bank account to a Indian Person
Hi ,
This may fall within the remit of IR35/Employment Status, it could be the case that this would still be reportable through PAYE.
Please see :
Check employment status for tax re this.
Thank you . -
RE: Benefits for ex-employees
Hi ,
I would suggest you look into this from a legal standpoint as if the benefit was provided in connection to the termination
then it would be taxable.
If it isnt connected and the employer and employee can prove they didnt know then it may not be a taxable benefit
under the EIM you referred to.
Thank you . -
RE : DPNI scheme: how to set up if i don't have experience
Hi ,
Please contact our helpline on 0300 200 3200 who will be able to take the information and send it to the relevant team to register it.
Thank you . -
RE : DCNI Scheme Registration
Hi ,
Please contact our helpline on 0300 200 3200 who will be able to take the information and send it to the relevant team to register it.
Thank you . -
RE: Are awards taxable?
Hi ,
There is still an incentive for your employees to perform well, as those who do so can be nomiated by their peers to receive an award.
Your employees know if they perform well and reflect certain behaviours, you as the employer will potentially reward them.
It doesn't make a diffeence that their peers are influencing who the employer gives the award to, as the employer is still giving the award.
Should an employer operate such a scheme and the award is cash, this is simply added to the employee's pay for PAYE tax and National Insurance purposes.
If a third party makes the awards e.g. a car manufacturer paying awards to the car salesperson with the most sales, then they would need a Taxed Award Scheme ( TAS ).
Thank you .