HMRC Admin 5 Response

Hi

1) This is classes as capital and is not taxable.  
2)  Cash gifts are not taxable.  
3) There is nothing to declare for tax purposes, regarding a loan

Thank you

Hi

If you've claimed your repayment, it can take up to 7 working days to reach your account.
We may need more information on your specific repayment to give you an accurate timescale, though - contact us by webchat or phone via Income Tax: general enquiries and we can give more advice.

Thank you

Hi G

You can register online at Set up as a sole trader
If unable to register online you can download and submit a CWF1 form Registering for Self Assessment and National Insurance contributions if you are a self-employed sole trader.
You can also register over the phone 0300 200 3500 open 8am to 6pm Monday to Friday.

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Hi

You will be resposible for paying the unauthorised payments charge as from your details, the payment meets the conditions of an unauthorised payment.

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Hi

You will pay tax and national insurance via your normal salary and once the sahres then vest, they may be liable to capital gains tax.
Please see guidance at Tax and Employee Share Schemes

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Hi

The maximum an individual can pay into a pensions scheme, so that their payments qualify for tax relief is either lower of the sum of their employment, self employent and partnership income or £60000 in 23/24.  
The threshold was £40000 in 22/23 and earlier.  Any payments that exceed this threshold do not qualify for tax relief and should be declared in a self assessment tax return.  
Any surplus of the individual's unused annual allowance, can be added to the later year.  Have a look at Check if you have unused annual allowances on your pension savings for more information.

Thank you

Hi

Tax relief on payments into your SIPP are limited to your employment/ self employment/partnership income, up to the sum of those parts or the £60000 threshold (£40000 for 22/23 and earlier) which ever is the lower.  
The difference between the initial loan sum and the sum repaid will be taxed as interest.  If the interest is greater than £10000 when it arises, then is should be reported in a self assessment tax return.

Thank you

Hi Olga

If your mum was resident in Ukraine while in receipt of this pension and it was not taxable in Ukraine, then it is not taxable in the Uk under article 17(1)(b) of the UK/Ukraine tax treaty at Uk/USA Double Taxation Agreement - 2002.  
If it was taxable in Ukraine, then is is taxable in the UK and should be declared on a self assessment tax return.

Thank you

Hi

No.  Please have a look at Article 14 of the UK / USA tax treaty (Uk/USA Double Taxation Agreement - 2002).  
It advises that certain sources of employment income are taxable only in the UK, where the work was carried out while not resident in the USA.  
If your employment income meets this criteria, then it is not taxable in the USA and you should claim the tax back from the IRS.  As the income is not taxable in the USA, no tax relief is available in the UK, when declaring it in your tax return.  Federal and State taxes are not income taxes, so do not qualify for UK tax relief.  
You will need to investigate whether as a non resident of the USA, whether you can claim the Fderal and State taxes back.

Thank you

Hi

Technically, yes.  If you were in receipt of a foreign capital gain from the share disposal, this should have been reported on a self assessment tax return for the tax year in which the disposal arises.  
It should be declared in pounds sterling, even if the annual exempt allowance of £12300 meant that no tax was payable.  If you disposed of the shares at a loss, then you did not need to declare in a tax return.

Thank you