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  • question about self assessment

    Hi, I am asking for a friend. I registered the gov gateway account with no problem. But my friend was stuck in the identity checking. I had 3 options(passport, driving license, tax credit), but he only had driving license and tax credit. He's new to England. So I think he has no tax credit. The system could not identify him. Is there a way to show the passport option as he has UK passport(BNO).? We are also thinking about doing self assessment (split year treatment) by post instead of online form. We could not any find the SA1 form I can download on gov website. We did find the form from other source. But we are not sure if the form is valid. Would you tell us where we can download the form? Also, it's near the end of Sept already. We are afraid of being late and get punished. We are also thinking about report the split year treatment via some software. If we use the software to report tax, is the deadline 31 Jan 2023 ? Thanks a lot
  • RE: Do I need report tax?

    Hi, I tried to register to the self assessment. But then I got an email saying that my address does not match HMRC's record. Then I went to check the address of my HMRC account. The address was correct. Then I registered again, the address was check and correct but got the same email. So I think it could be something else. Maybe my case does not need to report tax? My case : Not born and raised in UK. Had a full time in April - May 2021 overseas. Arrived UK in June 2021(also first time visit UK as well). Do I need to report tax? Thanks
  • Do I need report tax?

    Hi, I am new to England. Do I need to report tax if I have no income in the financial year? (Not self-employed, I had some savings and was on something else) Thanks a lot.
  • Bonds, Savings and Cashback

    Hi, my parents are at their retirement age. They want to find some way to make a little bit of extra cash in some safe ways. So I have found some of the products that fit them. I have read some articles online but I am not so sure how are they taxed and if they are taxable. So I think I better ask here. 1) Bonds. How is the interest made from bond taxed? Also is there any difference if they buy different bonds? (e.g. buying bonds from US vs UK) Does this count as Capital gain tax? 2) Saving. I see there are Starting rate for savings($5000) and Personal Savings Allowance($1000) on gov website. My parents have retired. So they should have 5000 + 1000 allowance? 3) Cashback. Some banks offer a cashback when you use their debit card. So is the cashback taxable? Thank you very much in advance.
  • RE: Move money to UK after entering UK 183 days

    Hi, I did not received any email. I just remembered this question. Sorry for late reply. I had asked a accountant. She said my capital gain is not enough for living. So it would be seen as capital gain not income. And the gain is less than allowance. Then no need to report the gain. After asking the accountant, I heard from someone else that moving money (savings not income/ capital gain) would probably be taxable. So core question would be "Is moving from abroad to UK a taxable in general cases?" thank you
  • Move money to UK after entering UK 183 days

    Hi, I just moved my money from US broker to UK broker after 183 days since entering UK. All of them are in cash form. (I sold all stocks before moving my money and gain is far below allowance). I heard people say if you move the money from abroad after 183 days, it will be seen as income. Is it true? Do I have to pay any tax just by moving my money from abroad to UK? thx in advance.
  • RE: CGT on currency

    Hi, I have a stupid question. How do I send it to you? And can I send e-statement to your email instead of physical statement? Thx
  • RE: CGT on currency

    Hi, you mean I have to copy all details on statement and paste it here? That's a lot of them. Or is there a way to send/upload the statements? Thanks
  • RE: CGT on currency

    Hi, I would like to thank you for being patient to me. I know it is a bit annoying. And Here's the simplified version of my transaction: May 2021 - balance around 60000 USD June 2021 - entered England June 2021 - transferred my money from multiple brokers to one broker, better to manage my money (around 30000USD) June 2021 to Nov 2021 - I have some trading activities Nov 2021 - all shares were sold Dec 2021 - have around $1484 USD profit(calcuated by balance in end of Nov minus balance in May). And all balance is in USD. Dec 2021 - transferred my money from US broker to UK broker. Dec 2021 - change some USD to GBP to put them into ISA or buy stuff (Not trading forex) My question would be "Are changing USD to GBP and transferring money between brokers taxable?" Although it doesn't look like gain and this question looks stupid, it would still be nice to know more about it. Thank you for helping me and being so patient.
  • RE: CGT on currency

    Hi, I want to clarify my question above. My money had always been in USD before came to UK and then come and live in the UK and change that to sterling. And changing the currency at different time would have different rate. e.g. today's rate minus the rate when I entered England. I'm not sure if that is called gains and is taxable? My case is like a combination of gain on stock($1484 USD) + come to a new place and have to change my money from USD to GBP so that I can buy stuff. Sorry if my question seem stupid to you. And thank you.