gorwai88

I read in the note that by electing to use the subject regime, you will lose the personal income and capital gains allowances. My question is how about other allowance such as Dividend, Savings Interest, Savings Starting Rate, Marriage Allowance, etc.? Thanks

Hi, I receive SCRIP (not DRIP) dividend from a NON-UK company, very standard SCRIP as an alternative to Cash Divdiend. After reading various rules, am I correct to say - There is no tax liability before the SCRIP stocks are sold, - Once the SCRIP stocks are sold, they are subject to CGT during the tax year where the stock was sold, assuming the cost of those SCRIP stocks were ZERO? Thanks

Hi HMRC, Assume it is deemed an annual payment, how do I convert the airmiles into monetary value? Is there a fixed method or I can use any methods that are reasonable?

Dear HMRC, When placing a fixed deposit with a certain bank, on top of the related interest, the bank also offer certain amount of air miles as incentives. May I know if these airmiles are taxable? and if yes, how would they be categorized, what allowances are they subject to, how does one convert them into monetary values, and whether the miles are taxable based on the date they were credited? or the date they were redeemed? Thanks

Dear HMRC, I have read that off shore FCP funds are considered "transparent" for income tax purposes, may I please confirm that? Cheers

Dear HMRC, I received dividend from Preferred Shares of certain company. Do these count as Dividend or Interest income when I file for self assessment? Thanks

Dear HMRC Thanks. I am unsure about the cutoff date when choosing which March Spot rates are applicable. For example, transaction on Mar 31 2021 would make use of Mar’21 spot rate instead of Mar’22 spot rate. But what about 1 day later on Apr 1 2021? Is the cut off Mar 31, meaning it should refer to Mar’22 Spot rate? Or is the cut off on Apr 5 (end of tax year), which means an Apr 1, 2021 transaction should still refer to the Mar’21 spot rate instead of the Mar’22 spot rate? Thanks

Dear HMRC, Regarding foreign exchange rate used to convert foreign income into GBP. 1. Instead of using the HMRC published monthly spot rate, monthly average rate and annual average rate , can I use a daily spot rate quoted from Bank of England website based on the date of the transaction? 2. Amongst all the various rates I can use, am I free to use different rates for different income entries? e.g. for May 10th dividend I use the monthly rate, for May 12th dividend, I use the annual rate, for Jun 30th saving interest I used monthly rate again? 3. For Annual rate, using 2022/23 tax year for example, am I correct to say I can choose between Dec'22 Annual Rates, as well as Mar'23 Annual Rates? Thanks