This is a pointless article as anybody working in tax knows there is no support and the majority of HMRC staff are untrained or insufficiently trained.
I expect that HMRC will do little until after 31/01/24 and then at some point request the payment of the correct sum. On the basis they may actually do some work at some point after 31/01/24 you should insist that the underpayment is coded out as that what was claimed in the return - assuming you did it correctly. They won't be able to code in 2024/25 but as it was their error they will be able to code in 2025/26 - if you push them. This has happened to a client in the past.
I believe that the owners intention is relevant. If they are not sure whether to re-let or sell, once it advertised for sale there won't be any interest relief. If it doesn't sell and they advertise to let then interest would be due from when it was available to let again and no longer on the market.
If you ticked the 2 boxes correctly even if you could speak to HMRC their systems wont accept the coding adjustment as it's post 30/12/23. However when they did this to a client of mine they agreed to code in the later year so 2025/26 in this case. If your clients can't pay ring or want it coded you could ring them on 01/02/24 and they will hopefully agree that coding adjustment.
My answers
This is a pointless article as anybody working in tax knows there is no support and the majority of HMRC staff are untrained or insufficiently trained.
https://www.thisismoney.co.uk/money/bills/article-12970489/HMRC-gold-sta...
I expect that HMRC will do little until after 31/01/24 and then at some point request the payment of the correct sum. On the basis they may actually do some work at some point after 31/01/24 you should insist that the underpayment is coded out as that what was claimed in the return - assuming you did it correctly. They won't be able to code in 2024/25 but as it was their error they will be able to code in 2025/26 - if you push them. This has happened to a client in the past.
I doubt whether you will get the reply you seek on a Agent's forum.
I believe that the owners intention is relevant. If they are not sure whether to re-let or sell, once it advertised for sale there won't be any interest relief. If it doesn't sell and they advertise to let then interest would be due from when it was available to let again and no longer on the market.
The trading allowance won't appear in the accounts as it's an allowance giver per tax year.
https://www.legislation.gov.uk/ukpga/2017/32/schedule/3/
If you ticked the 2 boxes correctly even if you could speak to HMRC their systems wont accept the coding adjustment as it's post 30/12/23. However when they did this to a client of mine they agreed to code in the later year so 2025/26 in this case. If your clients can't pay ring or want it coded you could ring them on 01/02/24 and they will hopefully agree that coding adjustment.
Not a second property that had never been a PPR.
1st period 15 months so 3/15 and 12/15 and no overlap or spreading.
S11 ITEPA 2003 327(3) to (5)
The same they do at any other time, next to nothing.