HMRC Admin 8 Response
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RE: Compensation settlement tax treatment
Hi,
We can't give a specific reply to your question on this forum, as we don't know the full background and facts.
It is likely CG13000 is relevant as it would likely be a capital sum derived from an asset.
Please also refer to CG12971 to make an informed decision.
Going forward you are correct that if any consideration was received in the future there would be no base cost, and this would be treated like a separate asset.
Coupon income is not terminology that we use, but believe this could be interest paid, so would just be chargeable to income tax as untaxed interest. You may need to seek independent financial advice.
Thank you. -
RE: How to manage someone's tax account online as Power of Attorney
Hi,
If your mother does not have the security information to file a Self Assessment return online, a paper return may be required.
You can download and print a return here:
How to complete your tax return for Self Assessment
For more advice on filing this return, contact us by webchat or phone via:
Self Assessment: general enquiries
Thank you -
RE: Global Accounting VAT Margin Scheme : Purchase Invoice Requirements
Hi,
You are requesting advice on whether records and accounts kept for the global accounting scheme are the same as the margin scheme.
As you have identified per Guidance (Using the global accounting VAT margin scheme) you must keep records:
• of purchase and sales (link to selling section), together with how you’ve worked out the VAT due
• which are up to date and clearly distinguishable from any other records
• for 6 years
Please refer to VAT Notice 700/21 section 2 refers to the record keeping rules for all VAT registered businesses.
To conclude the records/accounts/invoices the company would need to keep are not the same as a normal margin scheme, however as long as you adhere to the record keeping rules for all VAT registered businesses, this will suffice for the Global Accounting Scheme.
More details can be found in the following guidance. Record keeping VAT Notice 700/21
Thank you. -
RE: Paying VAT twice?
Hi,
If you have purchased VAT on a vehicle in the UK which you have now exported to france there would unfortunately be no procedure to recover the UK VAT on this.
Thank you. -
RE: API for MTD
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RE: Basic PAYE Tools problem after updating to latest version
Hi Benny Lui,
If you have already downloaded and installed the Basic PAYE Tools version 25.1 and you’re still experiencing problems, contact the online services helpdesk.
You should check this page regularly for further updates:
Basic PAYE Tools — service availability and issues
Thank you. -
RE: Basic PAYE Tools problem after updating to latest version
Hi Jon Smith 350,
If you have already downloaded and installed the Basic PAYE Tools version 25.1 and you’re still experiencing problems, contact the online services helpdesk.
You should check this page regularly for further updates:
Basic PAYE Tools — service availability and issues
Thank you. -
RE: Basic PAYE Tools problem after updating to latest version
Hi Ceci,
If you have already downloaded and installed the Basic PAYE Tools version 25.1 and you’re still experiencing problems, contact the online services helpdesk.
You should check this page regularly for further updates:
Basic PAYE Tools — service availability and issues
Thank you. -
RE: Basic PAYE Tools not appearing on screen
Hi Jen 2307 Mitchell,
If you have already downloaded and installed the Basic PAYE Tools version 25.1 and you’re still experiencing problems, contact the online services helpdesk.
You should check this page regularly for further updates:
Basic PAYE Tools — service availability and issues.
Thank you.
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RE: Basic PAYE Tools cannot be opened after update to the latest version 25.1
Hi,
We are sorry to hear you are having issues accessing the Basic PAYE Tool.
Please see the following link:
Basic PAYE Tools — service availability and issues
Thank you