HMRC Admin 5 Response

Hi terrywykwong

An attachent to support your figures as suggested is quite acceptable.  
If you invest in deeply discounted securities, put the difference between what you paid for the bond and what you redeem or sell it for in box 3 of SA101 (page Ai1) and not SA106.  Please see Additional information (2023)

Thank you

Hi Kenny McCartney

It can take up to 7 working days to process the payment to your Self Assessment account. Once allocated it will show the payment date and interest updated accordingly.

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Hi

If you are resident in the UK, the you must declare your 'world-wide' income and capital gains, in a self assessment tax return, using the arising basis.  
This means that you would need to declare gains from your interactive broker account on a self assessment tax return, even if you do not bring the gains into the UK.  
As you would be non domiciled in the UK, you have the option to claim the remittance basis on a self assessment tax return.  
Please have a look a the guidance at RDR1 (Residence, domicile and the remittance basis: RDR1).

Thank you

Hi terrywykwong

We cannot confirm the figures to declare in the tax return, merely advise which box the figures can be declared in.  For an answer to your question, you would need to seek the advise of a professional, such as an accountant.

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Hi

Currency other than sterling is a chargeable asset and its disposal can give rise to a chargeable gain or an allowable loss.  
From 6 April 2012 the treatment of foreign currency bank accounts was simplified.
From that date the treatment of foreign currency bank accounts for individuals, trustees and personal representatives (including members of a partnership) were aligned with the treatment of ‘simple debts’.
TCGA92/S252. Such debts will not give rise to chargeable gains (or allowable losses) in the hands of the original creditor.  Please see CG78320 - Foreign currency: foreign currency bank accounts - introduction

Thank you

 

Hi Winnie

As a non UK resident, you would only be subject to Capital Gains tax on the disposal of UK shares, if you returned to the UK within 5 years of leaving the UK.

Thank you