HMRC Admin 5 Response

Hi JustCheck

When selling shares, the contract would be entered into on the day the share is sold and this would determine the year in which it is declared.
This could be different for property as the contract may stipulate some conditions to be met which could occur later hence the wording of CG14260.

Thank you

Hi Sascha

The periods are based on the past as you are working it out for a tax year(s) that has finished. You cannot work out future details as circumstances/plans can change.
If you qualify for split year then you only report any foreign income for the UK part of the year please see Residence, Domicile and Remittance Basis Manual.
If you do not qualify then you will need to report all your foreign income to the UK (Tax on foreign income).  The guidance at RDRM12150 at www.gov.uk will help you work out if split year treatment applies. 

Thank you

Hi

Roth Individual Retirement Accounts payments to a UK resident that are not taxable in the United States are not taxable in  the United Kingdom.  Have a look at DT19852 - Double Taxation Relief Manual: Guidance by country: United States of America: Treaty summary Note 2 in relation to other pensions. 

Thank you

Hi

It would be taxed interest and be declared in the foreign section in order to apply for foreign tax credit relief.

Thank you

Hi

The answer is 'no' as the refund does not relate to the 22/23 tax year.

Thank you

Hi

An Exchange Traded Fund (ETF) is a form of Collective Investment Scheme and contains a pool of investments (‘the scheme property’) derived from the contributions of investors. The pool of investments is divided into equal portions called shares, and investors hold a number of shares depending on how much they have contributed. 
The investors in the ETF are beneficially entitled to an undivided share of the investments subject to the ETF and are referred to as shareholders. The price of shares is determined by the Authorised Corporate Director of the ETF (usually on a daily basis) at the current market value of the investments held in the fund. 
The type of tax charged, is determined by the asset class.  Equities, are subject to dividends and Capital Gains tax, whereas, Bonds are subject to Income tax and Capital Gains tax and commodities subject to Capital Gains tax only.  The foreign section of the tax return, can declare all 3 asset classes and include any foreign tax deducted, so that a foreign tax credit can be claimed.

Thank you

Hi Myles

No.  There are no tax implications of the giving or receiving of a cash gift.  Any interest or dividends the cash gift generate may be subject to tax.

Thank you

Hi Michelle24 B

Please have a look at CA23510 - Plant and Machinery Allowances (PMA): cars: outline - meaning of ‘car’ as it advises that "cars used by a driving school and fitted with dual control mechanisms (Bourne v Auto School of Motoring (Norwich) Ltd 42TC217)" should not be treated as cars for plant and machinery allowance (PMA) purposes.

Thank you

Hi

The property would be available to you from the date you arrived in the UK, not the date your mother acquired the property.

Thank you

Hi

Your interest arising in the 22/23 tax year would not be taxable in the UK, as you were not resident long enought in that tax year.  Article 11 of the UK / Hong Kong tax treaty advises that an individual, who is resident in the UK and receiving interest arising in Hong Kong, is taxable only in the UK. Please see:
2010 Hong Kong-UK DTA.  Any interest arising in the current tax year, should be declared in a self assessment tax return.

Thank you