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Posted Sat, 16 Dec 2023 20:29:27 GMT by
I was one of the partners of a publishing limited company in Hong Kong. I had sold all my shares to the other partners, and have no relationship, no cooperation with this company anymore before I had moved to UK years ago. This company owned me around £15,000, which promised to pay off before I moved to UK, but it failed to do so. Last year, I started to receive part of the pay off irregularly form the company, do I need to declared here?
Posted Thu, 21 Dec 2023 09:12:37 GMT by HMRC Admin 25 Response
Hi Cathy Kwan,
Please refer to guidance here:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. 
Posted Thu, 21 Dec 2023 11:24:33 GMT by
Thanks for the reply, but I’m the Tax Resident in UK, so I think remittance basis does not applied to me, right? My concern is, those money is the company that owned me before I moved to UK, and they returned to me after I moved to UK, do I need to be taxed? Thx in advance.
Posted Tue, 02 Jan 2024 14:34:05 GMT by HMRC Admin 2 Response
Hi,

As a UK tax resident and not claiming the remittance basis, you need to declare this in the UK.

Thank you.
Posted Tue, 02 Jan 2024 16:50:21 GMT by
Thanks for the reply, I have changed my self assessment and declared this income accordingly.

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