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  • RE: Oversea rental income

    One more question, Q3. If I receive the rental income by my wife and my personal bank account (50% / 50%) in order to use our personal allowance £12570, does it allow to do so? Any requirement for doing this? Great thanks!
  • Oversea rental income

    I plan to receive rental from oversea, and got below questions hope you can assist: Q1. Should I report the income through self assessment? Q2. Do I need to provide any supporting documents for this income? e.g. rental contact with the tenant or the authorised ownership document for this property?
  • Untax income?

    Questions : 1. If Interest from bank account during tax year less than my Personal Saving Allowance (PAS), do I still need to report to HMRC by self assessment or banks will auto inform HMRC? 2. Does Bank money reward, switching bank account incentive count as interest? Need to be taxed? If need to be taxed, how to? 3. I just found I missed to submit eg. £400 from my causal job earning in the last tax year, but I can’t add the £400 to be taxed in HMRC app anymore since the app not allow me to do so. How can I report that amount to HMRC and pay the tax created by that amount for last year?
  • RE: Gift tax for cash gift from overseas

    My relative in China (non Uk tax resident) would support my family’s life (we are UK tax residents) in UK. They plan to transfer £6k-10k monthly or £80k yearly to my bank account in China. Afterwards, I will transfer the money from my China bank account to my UK bank account. I have questions below : 1. Does it need to declare and pay tax? 2. Do I need to show supporting of our relationship? 3. Can I transfer the money from my China bank account to my UK bank account? 4. Does my relative need to provide any supporting of the source of money in their bank account? If yes, what kind of documents need? 5. Is it any limit amount of money my relative can send me?
  • RE: Cash gift from parents outside UK

    My relative in China would like to transfer money from their China bank account to my China bank account every month for value equal to £10000 to support my family’s life in UK. My questions are : 1. Does it need to declare and pay tax? 2. Do I need to show supporting of our relationship? 3. Can I transfer the money from my China bank account to my UK bank account? 4. Does my relative need to provide any supporting of the source of money in their bank account? 5. Is it any limit amount of money my relative can send me?