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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
SRT - what qualifies as work?
on 24/07/2024 16:11, by AnthonyF

The SRT pages of the HMRC website make regular reference to the term 'work'. Yet nowhere can I find a definition of the term. Does it mean work for which remuneration was made as part of an employment contract of some kind? Or does it include unpaid or volunteer ... Continue Reading

Tax on Rental Income
on 24/07/2024 05:24, by drewdavis

Hey might sound stupid, but why on earth would someone invest in real estate in the UK, get taxed based on your total income while when investing in bonds or stocks, dividends are taxed lower? Looking to buy a rental property but the taxes on rental income is ... Continue Reading

Tax on Settlement Agreement
on 22/07/2024 15:19, by anonman123

I was let go from work on a 'Settlement agreement' which basically means that they would pay me 6 months worth of my annual salary. I have a question regarding how it was taxed and want to know if I am due any tax. My financial details are as below: March 2024 ... Continue Reading

Remortgaging BTL and subsequent sale
on 21/07/2024 18:34, by Capt Webb

Hi, if I remortgaged a rental property to raise money to buy something else such as a car or another property but then decided - or had to - sell the remortgaged property, on selling would the new mortgage be taken into account and reduce any potential CGT? Or ... Continue Reading

Underpayment not being coded out
on 19/07/2024 12:40, by seasider1b

Just doing my 23-24 self assessment return. I seem to have an underpayment of £700 for this year, plus an underpayment of just over £1000 from 22-23 which was coded out during 23-24. Nothing unusual; this is a very common position for me and no doubt many others. HMRS ... Continue Reading

Discovery Assessments - Questions
on 19/07/2024 08:59, by CallemP

Hello If a discovery assessment has been raised, have HMRC the right to ask questions about the tax year on which the discovery assessment has been made? I was of the understanding that if an assessment has been raised then they have reached their conclusion and ... Continue Reading

Oversea subcontractot
on 18/07/2024 16:35, by GARDNER4

If a business is based in UK, THE UK BUSINESS INVITES A SUBCONTRACTOR/ self employed person FROM ABROAD to carry out some training work in the uk, what proof/documents does the UK business requires to satisfy HMRC that this was a bonfide business person from abroad ... Continue Reading