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Inland Revenue P85 Question

Inland Revenue P85 Question

Old May 19th 2005, 12:50 pm
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Default Inland Revenue P85 Question

On the P85 form that you need to fill in before leaving the country it asks for your mortgage details in Section 3: Mortgage amount and lender name & address.

Any reason why this is? Do the Inland Revenue inform your mortgage company that you've left the country?

Cheers for any thoughts.
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Old May 19th 2005, 1:05 pm
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Default Re: Inland Revenue P85 Question

Could it be because of MIRAS relief? the old mortgage relief, didnt that get wiped out?.

I cant think the IR would inform your mortgage lender but why not ring them and ask them why they need the info, they have ot be straight with you . Unless you sign something that says they can share the info I dont think they have the right...
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Old May 19th 2005, 1:35 pm
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Default Re: Inland Revenue P85 Question

Originally Posted by TobyShadow
On the P85 form that you need to fill in before leaving the country it asks for your mortgage details in Section 3: Mortgage amount and lender name & address.

Any reason why this is? Do the Inland Revenue inform your mortgage company that you've left the country?

Cheers for any thoughts.
Hi Toby,
Not sure about this and would like to know the answer. Another thing I would like to know the answer for is... Why does solicitor need your NI when selling house?

Sarah
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Old May 19th 2005, 1:42 pm
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Default Re: Inland Revenue P85 Question

Originally Posted by teach
Hi Toby,
Not sure about this and would like to know the answer. Another thing I would like to know the answer for is... Why does solicitor need your NI when selling house?

Sarah
Needs details because of Money laundering Regulations.
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Old May 19th 2005, 1:49 pm
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Default Re: Inland Revenue P85 Question

Originally Posted by Vanessa
Needs details because of Money laundering Regulations.
Didn't think of that. Not dull honestly,
Sarah
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Old May 19th 2005, 3:59 pm
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Default Re: Inland Revenue P85 Question

Originally Posted by TobyShadow
On the P85 form that you need to fill in before leaving the country it asks for your mortgage details in Section 3: Mortgage amount and lender name & address.

Any reason why this is? Do the Inland Revenue inform your mortgage company that you've left the country?

Cheers for any thoughts.
I think this is either because of old MIRAS rules or relevant also if you are renting out your house as you can claim tax relief on your mortgage interest. If you are not renting out, it is irrelevant.

I wouldn't worry about entering details. Well, I am submitting mine in the next few weeks, and I don't think there's anything to worry about
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Old May 24th 2005, 2:09 pm
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Default Re: Inland Revenue P85 Question

Cheers for everyone's info. I spoke to the CNR and they said that the form was used to build up a picture of your financial affairs. It's not a compulsory form anyway....something that I didn't realise.
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Old May 24th 2005, 3:51 pm
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Default Re: Inland Revenue P85 Question

I have heard from some people that you can get your tax back if you leave in the first 6 months of the tax year. Is this true and if so how do you go about getting it?
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