Ricky Cheung
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clarify income definition
Hi, I want to clarify how to put the correct income figure into the self-assessment. It's my business foreign income from Hong Kong. The money to me is HK$500,000, however, I have paid for my employee's salary HK$150,000. May I know my income figure in self assessment should fill HK$500,000 or HK$350,000? Thanks. For information, the Hong Kong tax authority charge me tax based on income HK$350,000, i.e. tax amount equal to HK$350,000 x 18% -
error on Self Assessment
I am not a tax resident in year 2022-2023. However, I wrongly registered self assessment on 4 October 2023. At this moment, I haven't started the self assessment or tax return. May I know what should I do to correct it? Should I just leave it not to process? or should I inform HMRC my such error? Please advise, thanks.