HMRC Admin 5 Response
-
RE: annual bonus tax implications
Hi G77W
No, as at the end of the tax year, your income will still be the same.
Thank you -
RE: $US Interest and Dividends in a UK Brokerage Account
Hi
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.
For your convenience, there are exchange rates at https://webarchive.nationalarchives.gov.uk/ukgwa/20231016190054/ and
Exchange rates from HMRC in CSV and XML format.
You are free to use any of the supplied rates or one of your own choosing. This should answer questions 1, 2 and 4.
It is up to you to declare the interests on your tax return.
Foreign interest is added to UK interest in the self assessment calculation and the appropriate tax free rate applied, with that taxable amount charged to tax at the relevant rate.
Thank you -
RE: Capital gains tax and Private Residence relief
Hi Gareth Griffiths
Please see guidance at CG65400 - Private residence relief: settled property: introduction
to see if the conditions are met.
Thank you -
RE: Cash Isa maturity
Hi
You can transfer the one that is maturing but you cannot add any addtional funds to it until after 6/4/24.
You will also need to get the ISA provider to arrange the transfer.
Thank you -
RE: Foregin income and SIP shares
Hi
As the savings and dividend income is below the allowances, there will be no UK tax due and as such you will not be due foreign tax credit relief.
This is only applicable if UK tax has been applied on the same source of income.
As you are having to declare details on the foreign section anyway, you should show all foreign income in there.
Thank you -
RE: Private pension carry forward - Employeer contributions
-
RE: Stater Rate for Savings
Hi
That is correct.
Thank you -
RE: Self Assessment for Trusts
Hi,
You can contact our online services on 0300 200 3600.
Thank you -
RE: Capital gains tax for civil partners who choose to live apart, and each own a property.
Hi,
Where a couple marries or enter into a civil partnership and each partner owned a residence which the couple continue to use after the date of their marriage of civil partnership, they must nominate which residence is their joint main residence as married couples and civil partners can only have one main residence between them.
The nomination must be made within two years of the date of their marriage or civil partnership.
See also guidance at HS283 Private Residence Relief (2023)
For definitive answers you will need to contact us direct either by phone or in writing.
Thank you -
RE: Dividend and Capital Gains Tax for non-resident investors
Hi Gio Pailo
HMRC cannot comment on future events as legislation/circumstances may change.
Thank you