HMRC Admin 5 Response
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RE: Foreign Saving Interest
Hi
If you are claiming the remittance basis, you need to complete the tax return as this is claimed via the SA109 residence/remittance page.
You need to declare your UK income and also any foreign income that you remit to the UK.
Further guidance can be found here Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you -
RE: SA109 Residence, remittance etc
Hi
You are dual tax resident. You will still need to submit SA109 and claim personal allowances (box 16 & 17) and the section for residence in other countries.
The completed form DT individual (Double Taxation: UK - Spain (Form Spain-Individual)) will need to be sent to the Spanish tax authorities before being sent to HMRC. Please include the completed form HS304 (Non-residents tax relief under double taxation agreements (Self Assessment helpsheet HS304)) with your tax return.
You will be required to complete SA106, to declare all of your overseas income and tax.
You will be able to claim a foreing tax credit, so you do not pay tax on the same income twice.
Thank you -
RE: RSUs withheld for tax and CGC reporting
Hi jmjq
As previously stated, we cannot comment on scenarios.
SA108 guidance notes advise:-
Box 24 Disposal proceeds - Put the total disposal proceeds (before taking off any reliefs, claims or elections) in box 24.
Box 25 Allowable costs (including purchase price) - Put your total allowable costs in box 25.
You will need to seek financial advice, if you want to be told what amounts go in these boxes.
Thank you -
RE: Income tax rate if moving to a country with a double taxation agreement
Hi flaccus
Regardless of what your home country decides, if you are resident in the UK, you will need to review UK residence rules, to work out how the UK regards your residency.
We are not able to make this decision for you, which is why we refer you to the guidance. You need to submit a self assesment tax return to claim split year treatment.
Thank you -
RE: Property allowance V Management fee expenses
Hi
You are correct. You can either claime the property income allowance or expenses, but not both.
Thank you -
RE: Offshore Investment Funds Matching Rules
Hi
Have a look at IFM13510 - Offshore Funds: investors in non-reporting funds: computation of offshore income gain: introduction.
This refers to election and it will be reported as one gain.
Thank you -
RE: UK personal allowance in Morocco
Hi
If you are a UK citizen, you are entitled to claim personal allowances, no matter where in the world you live (boxes 16 & 17 of SA109).
As a resident of Morocco, you can also claim personal allowances because of the double taxation agreement (boxes 15 & 17 of SA109).
Thank you -
RE: Moving ISA funds within same tax year
Hi
You can transfer it as long as it is done by the bank/building society - take a look at the link here Individual Savings Accounts (ISAs)
Thank you