HMRC Admin 21 Response

Hi Cornish1960,
If your income takes you into the higher rate tax bracket then yes you can claim relief on your pension contributions if the payments are made from your net income Tax on your private pension contributions.
Thank you.

Hi M B,
You can use HMRC rates at HMRC currency exchange average rates.
Thank you.

Hi nazboy23,
Yes you can use them as long as they are reported before 05/04/25. If the actual disposes were over £49200 then this should have been reported using a tax return.If not, you can send the details in writing to show how you arrived at your  figure to:
HMRC PAYE & Self Assessment
BX9 1AS
Thank you.

Hi ddawood,
As you are trading, you would potentially be liable to pay tax on the net profits.  What you choose to do with those net profits afterwards, is up to you.  If your gross profit exceeds £1000, you will need to register for self assessment and report the turnover and expenses.  If tax is payable on the profits you give to charity, you can claim tax relief by declaring the gifts to charity in box 5 of page TR4 of SA100.  The charity can then claim tax relief on the charity payment from HMRC, thus receiving the tax you paid on the profit as well.
Thank you.

Hi ceeloucee16,
Please have a look at the guidance at IPTM6010 regarding critical illness policies (IPTM6010 - Sickness, disability, unemployment and long-term care insurance: introduction and overview).
Thank you.

Hi Mampitiya,
If Uber do not tax the income you receive from them, you will need to register for Self Employment, and declare this income in a Self Assessment return at the end of the tax year. To register, go to: 
Check how to register for Self Assessment.
Thank you.

Hi Abk07,
If the 2023/24 return is filed before the 30th December 2024, and the payment for the HICBC is present on your partner's statement, we may be able to code out the remaining BIK amount.
To allow us to confirm this, contact us by webchat or phone via Self Assessment: general enquiries.
Thank you.

Hi S_bflai,
Please have a look at the helpsheet HS321 (HS321 Gains on foreign life insurance policies (2024)) as there are different rules depending on the policy type.
Thank you.

Hi gilkelly,
Inheritance tax is not covered by the double taxation agreement.  As  you and your brothers are the beneficial owners of the property, each of you will need to report the disposal in a self assessment tax return, with all figures in pounds sterling.  The acquisition and disposal costs such as solicitors fees, estate agent fees, should be split between each of the brothers, according to their percentage of ownership.  The same can be said for the Irish Capital Gains tax paid.
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:
UK Government Web Archive/ukgwa/20231016190054/
Exchange rates from HMRC in CSV and XML format and for older rates at:
 UK Government Web Archive/ ukgwa/20100202113554/Exchange rates from HMRC in CSV and XML format.
You are free to use any of the supplied rates or one of your own choosing.
Thank you.

Hi Gavin,
You are correct.
Thank you.