Help! Small CGT issue & car mileage query

mrs_mcbunny

Hi all

I hope someone can help with my two specific queries. To give a bit of background I work for a bank and my pay falls withing the lower tax band threshold. Therefore although I have savings, dividends etc I have never had to fill in a tax return.

Query 1
In Jan this year I cashed in a ten year savings policy that was half way through and performing poorly and I got a letter saying that I had made £6.75 capital gains so would have to fill in a tax return. I promptly looked on the HMRC website, got confused with self assessment and gave up. Time is now pressing on and I'm aware that I should do something but not sure what. Do I really need to fill in a tax return for £6.75 or is there another way?

Query 2
I have recently had a promotion and have been using my own car for customer appointments. The bank pays me 40p per mile for distance covered from the office to the customer. I was told that tax relief could be claimed on the distance between my home and office (40 miles) - is this correct? Would this go on one of those P87 forms I have seen? And a silly question, I assume that I could claim tax relief via a P87 for £100 per year membership to Chartered Institute of Bankers?

Any help greatly appreciated.

fengirl_2

In answer to your queries:
1. No - way below the annual allowance of £9600.
2. No - travel from home to work is not allowable for tax. Not sure if Chartered Institute of Bankers is allowable - check on the HMRC website. If it is allowable, you just need to write a letter to yoour tax office.

ceeforcat

Chartered Insitute of bankers definitely allowable - log into HMRC website and type 'List 3' in the search box.

mrs_mcbunny

Thanks guys, I was starting to worry about my £6.75 problem but you have put my mind at ease!

The second bit seems common sense, thank you for clarifying!