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Applying Split year treatment
I am writing to seek your advice on a potential oversight in my self-assessment tax return for the tax year 2023/24. Here is my situation: I arrived in the UK on 27 April 2023 and began my UK employment on the same day. I resigned from my overseas job on 1 April 2023, but the final salary from this job was paid into my account on 27 April 2023, the day I became a UK resident. Based on advice I received at the time, I understood that since I had resigned before becoming a UK resident, the overseas salary did not need to be reported in my self-assessment. I therefore completed my tax return and paid the tax due without applying the split year treatment. I have recently come across information about the split year treatment and realize I may have been required to apply it due to my circumstances. I want to ensure my tax affairs are in order and comply fully with HMRC requirements. Could you please advise me on the following: 1. Am I required to apply the split year treatment for the tax year 2023/24 based on my circumstances? 2. If so, how should I proceed, given that I have already completed and paid my self-assessment? 3. Do I need to amend my self-assessment to account for the split year treatment, and if so, what steps should I follow? -
RE: Monthly distribution in ETF in the means of "return of capital"
Hi, I have hold numbers of US ETF and I do not have all the breakdown of the dividends from them. The report provided by broken just named the distribution as "dividend" and the assets I hold as "Stocks". Is it good for me to input the income as dividend? Or do I have to come up with the year report or what to check the breakdown of the distributions? -
RE: Tax on Savings Interest
Hi, I have no other income but only interest from saving with amount £16000. Should the personal allowance and the starting rate cover the interest income? Tia