HMRC Admin 33

Hi,
If your code was reduced to repay tax that you had underpaid in-year, in 23/24, then your full 12570 allowance showing in your 23/24 calculation is correct - the in-year reduction will effectively be present in the tax figure you enter as paid by end-of-year.
Your code may have been reduced for another reason, though - to allow us to check this, and confirm what needs to be entered in your return, contact us by webchat or phone
Self Assessment: general enquiries
Thank you.
 

Hi,
We can confirm that there are no Income Tax implications unless the loan pay back generates interest or dividends.
These would then potentially be subject to tax. You do not need to declare it.
Thank you

Hi,
There is no need to insert the city. The postcode is enough.
Thank you

Hi,
Thank you for your question. As per your previous question and response given, as your husband and yourself jointly own the rental property, HMRC would as default, believe the property is split 50/50%. Upon completing the Form 17 and subsequent Deed of Trust, this would legally transfer beneficial interests to your husband. You may wish to consider a Declaration of Trust if you do not wish to alter the legal percentage split, just the interests in the rental property. TSEM9851 refers to evidence required when completing the Form 17 declaration: https://www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/tsem9851.
Thank you

Hi,
Thank you for your question. As the excess payment was in relation to your rental business, you would be able to claim the £1,000 as an expense, followed up with the repairs also claimable if they are of a revenue nature, and not capital.
Thank you

Hi,
Your tax free allowance will stay the same regardless of whether you have one and/or multiple jobs. Please see the link below
Income Tax rates and Personal Allowances : Current rates and allowances
Thank you

Hi,
As a company director you are required to submit SA returns. Please see the links below
Check if you need to send a Self Assessment tax return
Check how to register for Self Assessment
Thank you

Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You may wish to contact our team for advice
Self Assessment: general enquiries
Thank you.
 

Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You may wish to contact our team for advice
Self Assessment: general enquiries
Alternatively you may want to seek professional advice.
Thank you.

Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You may wish to contact our team for advice
Self Assessment: general enquiries
Alternatively you may want to seek professional advice.
Thank you.