HMRC Admin 25 Response

Hi Alison Hayes,

If you wish to keep all your tax allowance against the self-employed work, you can contact us after you have started to be paid and we can note your records that your tax allowance is not set against the employment.
Income Tax: general enquiries

Thank you. 

Hi Chelsie,

 IncomeTax is calculated and charged when the Income is paid.
The Personal Allowance is used on a weekly or monthly basis depending on how often you are paid.
If you are earning more with the placement, you should have the allowance allocated against this.
We always review the position after the tax year has ended and if you pay too much tax you will receive a P800 calculation once we have reviewed it.
Please see this guidance here:
Tax codes
Thank you. 

 

Hi aimee duerden,

You will not need to pay taxes on the transfer of the capital but you will need to declare any interest or dividends it generates whilst in the bank.

Thank you. 
 

Hi CDH,

I regret that we cannot comment on scenarios.  

There is a help sheet here:

HS281 Capital Gains Tax civil partners and spouses (2023)

 Further guidance can also be found in the capital gains manual onwards. 

CG22400P - Capital Gains manual: individuals: transfer of assets between spouses or between civil partners: transfers of assets following permanent separation, divorce or dissolution: Contents
 
If you still unsure, you may wish to seek the advice of a financial adviser.

Thank you. 
 

Hi Enya Murphy,

If your registration is being rejected online and you are having issues getting though, you can complete print and post forms to send to us.

Register for Self Assessment

Thank you. 

 

Hi Eleanor Worby,

The bill has only had its1st reading and still needs to go through normal parliamntary processes.
The guidnace will be updated once approved.
However, the rules still apply for disposals on or after 6/4/23.
Capital Gains Tax - separation and divorce

Thank you. 

Hi Chris Pool,

You would submit the P85 to have the code NT issued against your income if applicable.

You will complete the 23/24 tax return as normal but for  tax year 24/25 as a non resident you would include HS304 with your tax return. 
 
Non-residents tax relief under double taxation agreements (Self Assessment helpsheet HS304)

Thank you. 

Hi Karolis Rutkauskas,

The current timescale for online applications is 3 weeks.
They are currently working on applications received on 10 April 2023.
You can contact our helpline on +44 19 1203 7010 to check if your applications have been received.
When you submitted the forms, you should have received a reference number which you can quote when you call.
Alternatively, you can quote your National Insurance number.
Lines are open Monday to Friday 8am to 6pm.

Thank you. 

Hi Hellfighter,

If your refund is not being processed and you have not received a letter from us you will need to keep trying to get through to our helpline to discuss this.

Self Assessment: general enquiries

Thank you. 

Hi Ann Chen,

There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here
Tax on savings interest
Tax on dividends
However, your bank may need documentation on where the funds are from and you should therefore speak to them.

Thank you