HMRC Admin 5 Response

Hi

Only that interest generated within the ISA is tax free, so from April - January is taxable.

Thank you

Hi 

Your foreign self employment income should be declared in SA103.  Only if you are claiming a foreign tax credit, do you also declare it in the foreign section.

Thank you

Hi 

You do not state how you acquired the money from forex prop firms.  
I you acquired and disposed of shares, there may be a gain after you have deductd your qualifying expenses.  
This woudl be reported in the capital gains section of the tax return (SA108 - Self Assessment: Capital gains summary (SA108)).  
If this was earned income arising from self employment, then this would be declared in the self employment section (SA103 - Self Assessment: self-employment (short) (SA103S)),
along with the qualifying expenses.

Thank you

Hi ejc7691

We can only provide general information/guidance in this forum.  
For an answer to a detailed question of this nature, you would need to contact our self assesment helpline on 0300 200 3310, contact our webchat facility at Contact HMRC or seek professional advice.

Thank you

Hi

Please have a look at the guidance at EIM71100 - EIM71100 - Voluntary organisations: unpaid office holders and
Charities and tax for more information.

Thank you
 

Hi 

We would need to access your record to check/update your tax code.
You can contact HMRC at Income Tax: general enquiries

Thank you

Hi 

There is no requirement to report losses to HMRC.  
If you want to claim for losses and carry the losses forward to a future tax year, you would declare the losses in the capital gains section of the online tax return or SA108 paper supplementary page.
 In the relevant shares section, you would show the disposal value, your allowable costs and the resulting the loss.  
In the losses and adjustment section, you would declare that you wish to carry the losses forward.  
Capital Gains summary (2024).  
Capital Gains Summary notes

Thank you

Hi 

Previously, you were limited to opening only 1 ISA of a particular type in each tax year, such as a cash ISA.  
The ISA reform allows for the creation of more than 1 ISA of the same type in the same tax year.  An ISA provider can choose to limit you to creating one ISA with them in a tax year.  
This does not prevent you from creating an ISA of the same type, with other providers.  
Regardless of however many ISA's you create, you are still limited to a combined maximum saving of £20000.

Thank you

Hi 

For capital and interest accruing when you were not UK, there would be no tax liability for transferring to the UK.  
Only interest arising from the capital in the tax years you were resident in the UK, would be taxable.  This interest should be shown in a self assessment tax return.

Thank you