HMRC Admin 5 Response

Hi 

As this is money paid in by you to cover medical expenses, any reimbursement is for costs already incurred by you and is not income and therefore not taxable.

Thank you

Hi al1918 YU

Foreign losses must be reported in order to be used on any UK gains and must be done in writing.
Please refer to guidance at CG25330A - Remittance basis: election for foreign losses to be allowable: TCGA92/S16ZA

Thank you

Hi

If sold prior to 05/04/23, you will need to report it as the disposal proceeds are over £49200.
You will show that you are claiming private residence relief so that no taxable gain is due. see Capital Gains Tax: what you pay it on, rates and allowances

Thank you

Hi

HMRC cannot comment on future events as legislation may change. however, for current guidlines, please refer to HS321 Gains on foreign life insurance policies (2023)
For any interest/dividends that are received, that could be taken by you, are classed as taxable income and should be declared.
You do not need to report any increase in value of the policy until it is surrendered/matured and is subject to possible income tax rather than capital gains.

Thank you

Hi

If your other income is up to £17,570 you would receive the the starter rate for tax on savings of up to £5000.
If you other income is above £17,570 then it would be the £1000 personal savings allowance if a basic rate tax payer. 

Thank you

Hi Wai -Ming

Yes that is correct, just the employment page. 

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Hi

As it's an overseas account, this is foreign income albeit paid in sterling, and if not remitted to the UK then you do not need to declare it.

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Hi

French social taxes are not an allowable expense so it is the gross pay that you decalre, converted to sterling, and then claim foreign tax credit relief for the French income tax that has been deducted. again, converted to sterling.

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Hi

No as this is not evidence that it is solely business mileage. Logs/receipts should be kept to support any claims

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Hi

The allowance is based on your income but by making gift aid payments to extend the basic rate band, this may reduce any additional tax that may be due on the interest.

Thank you