HMRC Admin 5 Response

Hi

I cannot find your original question. However, all the funds in a cash ISA should be earning interest. Any doubts on this should be taken up with your provider.

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Hi 

Your residence is for your to determine - RDR3 Statutory Residence Test. both countries may tax you for capital gains but you can claim a credit to reduce the tax bill in the country you are tax resident

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Hi Peter H

HMRC does not regard IRAs as pensions.  They are treated as investment accounts and attract interest.  Both periodic withdrawals and lump sums are treated as interest and taxed as such, in the foreign interest section of SA106.  
You can claim a foreign tax credit of up to 100% of the foreign tax paid.

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Hi k choco

You’ll need Helpsheet 304, ‘Non-residents – relief under double taxation agreements’ to help you fill in this box. You’ll also need to complete and send in the appropriate claim form included in the 
helpsheet - Non-residents tax relief under double taxation agreements (Self Assessment helpsheet HS304)

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Hi 

UK-REITS and NON UK REITS are vehicles that allows an investor to obtain broadly similar returns from their investment, as they would have, had they invested directly in property.  
In the hands of the shareholder, the profits paid out are known as property income distributions ir dividends (PIDs) and are taxable in the same way as profits of a UK property rental business.  
Where Non UK REITs are distributed, the profits and foreign tax deducted are declared in the foreign sections under 'income from land and property abroad', where a foreign tax credit can be claimed.  
They are not taxed as dividends, but as property income.  Foreign tax credit relief is restriced in a similar way to dividends.  Article 10 of the UK / USA tax treaty (Uk/USA Double Taxation Agreement - 2002) limits tax relif to 15% (DT19852 - Double Taxation Relief Manual: Guidance by country: United States of America: Treaty summary).

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Hi

Personal pension relief payments are declared in box 1 of page TR4 of the tax return (SA100).  Have a look at Tax on your private pension contributions.  
The amount claimed in your tax return is automatically transferred to your tax code for the following tax year.  
If you discover that this figure will be wrong, you will need to contact our self assesment helpline on 0300 200 3310 or contact our webchat facility at Contact HMRC, to amend/remove the personal pension figure.
In the current tax year, you can claim tax relief up to the lower of a maximum of £60000 our your annual earnings paid into pension schemes.  
Any payment that exceed your threshold, becomes a 'pensions savings tax charge' and the excess should be declare on SA101 (additional information) box 10 on page Ai4 or in the online equivalent box
"Amount saved towards your pension, in the period covered by this tax return, in excess of the Annual Allowance". 
Have a look at Tax on your private pension contributions.

Thank you

Hi jaw54

As a Deeply Discounted Security (DDS), normally a US Treasury bond would be subject to Income Tax on maturity for UK taxation purposes.
However, if redeemed or sold before maturity would be subject to CGT, therefore, CG liability or loss may arise.
Pleease see CG54602 - Deep discount securities: CGT adjustment - HMRC internal manual - GOV.UK CG54602 - Deep discount securities: CGT adjustment
Therefore, any gain would be entered onto shares and securities area of CG schedule. If double taxation applies any relief would be claimed on the Foreign schedule, CG area.

Thank you
 

Hi

If the company office is the customers permanent workplace then any travel from their home to that workplace is normal commuting and so not an allowable expense, as per EIM32356, which is what the customer has stated. 
The actual rules about what are classed as ordinary commuting and what is an allowable business journey for the purposes of the employment are a little complex and include the concept of temporary workplaces. Based on what you haves said, I suspect the fact the company deduct 120 miles from every journey that starts at home is administrative ease for them to ensure they keep themselves within the rules for paying travel expenses.
The guidance on Employee travel expenses in general is at EIM31800 onwards. If the individual chooses to stay somewhere nearer to their permanent workplace for ease then any travel from their normal home to get there would not be allowable as it is a private journey to put them in a position to carry out their employment, not actually as part of the duties of the employment. 
Your question really relates to what happens from here. Any subsequent travel from the hotel where they have based themselves would be subject to the normal rules regarding travel expenses, with the hotel in that case effectively being your home for that journey.
If you then travelled to their permanent workplace from there to carry out substantial duties then that journey would also be ordinary commuting (see EIM32055 for what constitutes ordinary commuting).
Any onward travel from the permanent workplace to clients (which are effectively classed as temporary workplaces whilst they are there) would then be allowable business travel, see EIM32230.
If the individual travels from the hotel where they are staying direct to a client (or just briefly stops at the permanent workplace to pick something up for example), then the whole journey may be an allowable expense if the journey is longer (or in a different direction) than what their commute to the office would be from the hotel, and any subsequent travel between clients would be allowable on the basis it's between 'temporary workplaces'.
For tax purposes, HMRC would not require 120 miles to be deducted from the journey as 120 miles is not their 'ordinary' commute if they are staying at a hotel near to the permanent workplace.
This is guidance at EIM32300 and there are some useful examples there too. Ultimately each case would be dependent on the individual facts.

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