HMRC Admin 5 Response

Hi 

Payments made to private pensions can be added to your tax code, in-year.
To update your code with any such payments made, contact us by webchat or phone via Income Tax: general enquiries 

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Hi InterestedInTax

There is no gift tax in the UK.

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Hi

This needs to be in paper form and posted to HMRC, PAYE & Self Asssessment BX9 1AS

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Hi

Yes the gain would be covered by the starter rate and excess allowances. no tax wold be due on those figures.

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Hi Jon Carter

Yes that is correct.

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Hi K H

Yes it means the whole tax year.

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Hi

Yes you can still claim the relief on the 75k pension contribution as your income is higher than this.
The charge for exceeding the annual amount would only be due if you had no unused relief from previous years to cover it.

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Hi

In most cases, US government pensions are taxable only by the IRS in the USA.  However, if you are in receipt of a US government pension, but you are resident in the UK and you are a UK national, then the tax treaty allows for HMRC to tax this pension as well.  The IRS will have first rights to tax this pension.  You would declare the pension in your self assessment tax return and claim a foreign tax credit for the tax paid in the US.

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Hi 

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 ju8689

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, you can use the exchange rates you have described or obtain an exchange rate from another source.  It is up to you if you want to use the monthly rate, as you can equally use the spot rate or the annual rate.

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