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  • RE: Is Self Assessment or other action needed for my case

    Dear HRMC, Can you please advise on my enquiry ? I would like to know if I need to confirm my SRT assessment with any HMRC parties . Thanks for your help in advance.
  • Is Self Assessment or other action needed for my case

    Dear HRMC, I am not sure if I need to complete a SA or if any other action is needed for my case. Background: -I had never been a tax resident before, and migrated to London in Nov 2021. -I had followed the Statutory Residence Test (SRT) and determined myself as a non-tax resident in 2021/2022 tax year. -I am now working in London and paying salary tax through PAYE. -I do not / did not own any UK property or Land. The only capital gain based in UK was from some mutual fund (which tracks US index) in London stock exchange. As I run thought the SRT myself and never confirmed with any HMRC parties. I am not sure if I need to submit the SA as a record for my assessment on SRT or other tax implication. Please advise if any action is required for my case. Thanks for your help.
  • RE: Clarification on the action required

    Dear HMRC Admin 10, The only capita gain/ dividend I made was from mutual funds, so my understanding for question 2- 3 are both no action required. Am I correct ? For Question 1, if I had determined myself as a non- UK residence, and I didn't involve in any UK Property and Land, then I also have no action required. Am I correct ? For question 4, can you have more guidelines for report the tax from Hong Kong consumption vouchers? Any link I can refer to ?
  • RE: Clarification on the action required

    Dear HMRC admin 17, Sorry, besides the questions in above , may I have further questions for Q4. As mentioned in the question , the consumption voucher was provided by government but not by the employer. May I know if the link you provided is still applicable ? THanks
  • RE: Clarification on the action required

    Dear HRMC Admin 17, Thanks for your help. Sorry, I didn't mention about sell of property in the original post. Can you please help to clarify again for question 1- 3. I just want to understand if any action is required for scenario 1 -3. For Q4, thanks for your guides and I will study it. Thanks for your help.
  • Clarification on the action required

    Hello HMRC, I would like to clarify what would be my action required in the different scenario. I am using arising base for the tax. 1. I had followed the sufficient ties test in SRT and determined myself as a non- UK residence in the year 2021 to 2022. What would be my action ? Do I need to declare to any party or completing the self assessment ? 2. If in a year I had a capital gain within the allowance, do I need to declare to any party or completing the self assessment ? 3. If in a year I had received a dividend / bank account interest with less than GBP2,000. Do I need to declare to any party or completing the self assessment ? What if the interest was received in a foreign account. 4. Is consumption voucher provided by a foreign government taxable? If yes, May I have any guideline about the handling ? Thanks for your help in advance.
  • CGT and Remitting to UK

    Hi, I am a new tax-resident of UK, and I have some oversea stocks accounts. I did not apply for remittance base and hence I am arising base for my foreign income. I would like to clarify the followings, 1. If I have a foreign capital gain for less an amount of CGT allowance , do I need to report / declare for the CGT ? 2. If I sell the shares today, and the capital gain is less than the allowance for the whole year. Is there any tax implication for me to remit the money to UK immediately ? Thanks for your help in advance.
  • RE: CGT Calculation for New Resident

    Thanks for your help!
  • RE: CGT Calculation for New Resident

    Dear HRMC Admin 17, Thanks, but for the gain i realzie at 11th Jan 2022, Should the gain be ($7-$5)*1000? I am not sure about if the same day rule applied to my transactiom at Nov 2021. Thanks
  • CGT Calculation for New Resident

    Hello, I would like to have some enquiry for the calculation of CGT. Background: I had never been a domicile or resident of UK for tax purpose at the beginning of 2021/20 tax year. I had been trading some stocks in HK. I would like to confirm if the same day rule is applied before i became a tax resident. Example: 3rd April 2021: Purchased 1000 stocks of company A at $3 11th Nov 2021: Sold all 1000 stocks of company A at $4 Later at the same day of 11th Nov 2021: Purchased 1000 stocks of Company A at $5 1st Jan 2022, I became a tax resident in UK 11th Jan 2022, sold all 1000 stocks of company A at $7. In that case, what should I be reported when completing my self -assessment if I am going for split -year treatment? Should I report ($4-$3)*1000 as oversea capital gain and ($7-$5)*1000 as resident capital gain tax ? Thanks for your help.