HMRC Admin 5 Response
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RE: digital nomad visa taxes for companies
Hi
If you are employed by a UK company and you are not resident in the UK while undertaking this employment, then your income is taxable in Spain and not the UK.
If you do not need to complete Self Assessment tax returns, then you would complete form P85 - please see Get your Income Tax right if you're leaving the UK
However if you do need to complete a self assessment tax return, then along with the residence page (SA109), you would need to submit a completed HS304 please take look at the helpsheet here Non-residents tax relief under double taxation agreements (Self Assessment helpsheet HS304)
Thank you -
RE: Self Assessment Pension Query
Hi kp
On the tailor your return section there is a question that asks if you made contributions to a pension scheme.
You need to answer yes to this to open the section where you declare them.
Thank you -
RE: Capital Gain and foreign dividend - Use of exchange rates
Hi
You can also use the London closing rate, as would be reported on a daily basis, in national newspapers.
The Bank of England publish spot rates against Sterling and other currencies, but the rates they publish are not official rates, so should not be used.
The official rates are based on the London closing rate.
Thank you -
RE: FHL 60 Day Reporting and BADR
Hi
Yes. You have 60 days to report and pay capital gains tax on UK residential properties, even if the were FHL's.
There is a calculator at Report and pay your Capital Gains Tax
and you can create a capital gains account at Report and pay your Capital Gains Tax
Thank you -
RE: Finding out when self assessment started?
Hi
Our self assessment telephone lines are closed until 4 September. You will need to contact our self assessment webchat helpline, where my colleagues will be able to confirm if theres is overlap relief. You can contact our webchat team at Self Assessment: general enquiries.
Thank you
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RE: Chargeable Event from Life Insurance Surrender - do I need self assessment?
Hi
If your chargeable event gain is over £10000.00, then you meet the criteria for completing a self assessment tax return.
Chargeable event gains, should be declared on SA101 page Ai1, boxes 4 and 5 please see Self Assessment: additional information (SA101)
Self assessment will calculate the top slicing relief for you.
If you are completing your tax return online, when tailoring your return, select yes to "Did you receive any other UK income, for example, employment lump sums, share schemes, life insurance gains?" onpaqge 2 of 3.
Thank you -
RE: Self employed - self assessment and agency's payslip
Hi
In your self assessment tax return, you would use the contracted sum as the gross, the agency fee declared as an expense and the cis deduction of tax paid.
This will allow you to declare gross profit and expenses, to arrive at the net taxable profit and the tax paid.
Thank you -
RE: Bank repayment pending still
Hi jakk Pierpoint
It can take 8 weeks for a response to the referral we send, this does not mean the repayment won't be reviewed before then.
Thank you -
RE: RSU capital gains reporting
Hi Charles David Hume
That is correct. You can report the loss on SA108 and carry it forward to set against any future gains.
Thank you