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  • Cash gift from UK parents

    Hi HMRC Staff, My parents who live in UK and if they give me cash gift which is over £3,000 tax annual exemption. Should I need to declare the cash gift to HMRC in my self assessment tax return? Thanks for advise.
  • RE: Set up new business in August 2022

    Hi HMRC staff, Thanks again for your information. And for my understanding, if my self-employed income is less than the £1000 Trading Allowance and not applicable for those 4 points from above. Then I needn't re-register online by filling the form CWF1. (because I have filed a tax online before) Am I correct? Many thanks for advise.
  • RE: Set up new business in August 2022

    Hi HMRC staff, Thanks for your reply. And if I won't claim anything and do not plan to pay voluntary Class 2. Should I need to complete the CWF1 if I earn less than GBP 1000 with using Tax-free allowance? or just tell HMRC in my SA return 2022/23 in the additional part? Thanks for advise.
  • RE: Set up new business in August 2022

    Hi HMRC staff, Thank you for your reply. And I have more question. Should I still need to complete CWF1 if I earn below GBP1000 with using tax-free trading allowance? Thank you.
  • RE: Set up new business in August 2022

    Hi HMRC staff, Thanks for your information. And I would like to ask should I need to fill form CWF1 first when I started the business on August 2022, after that fill SA tax return 2022/23 (2 steps) or just tell HMRC I am self-employed through SA return at once in tax year 2022/23 before 5/10/2023 (one step)? Thanks for advise.
  • RE: Set up new business in August 2022

    Hi, Thanks for your reply. After studied the guidelines, in my understanding, should I register sole trader through self-assessment before 5 October 2023 (i.e. between 5 April 2023 to 5 October 2023) if I set up my business on August 2022? Am I correct? Many thanks
  • Pay VAT for import goods from overseas

    Hi, I would like to ask if I buy goods (not excise goods and gift) worth less than £135 from overseas and already paid tax to that country when I purchased, then import those goods into UK by overseas shipping agency, should I need to pay VAT or delivery charge? Many thanks for advise.
  • Set up new business in August 2022

    Hi, I have finished my SA return on April 2022 of tax year 2021-2022. And I would like to start my new business in August 2022, should I register in sole trader through online (form CWF1) in August 2022(even I earn GBP 0 because I just start)? Or wait until next tax year 2022-2023 to tell HMRC which I am self-employed through SA return? For other question, if I earn less than GBP 1000, could I still register as a sole trader and pay voluntary NI class 2? Thanks for advise and many thanks for great help.