HMRC Admin 28
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Re: State Pension and Self Assessment
Hi,
Tax is not deducted at source on your State Pension so it is the full amount received that you need to declare
Thank you. -
Re: Money Transfer Aboard
Hi,
There are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest and
Tax on dividends
Thank you. -
Re: I have two stocks and shares isa - what do I do?
Hi,
You will need to decide which one to keep so that the other one then becomes a normal account and any interest earned would form part of your savings allowance.
Thank you. -
Re: Self assessment tax refund
Hi,
Some of our repayments are selected for additional security checks, and where possible we aim to complete these within 6 weeks.
If further information is required you will receive a letter.
Thank you. -
RE: Money transfer
Hi,
There are no income tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to Inheritance Tax regarding any Inheritance Tax implications.
You can find guidance here:
How Inheritance Tax works: thresholds, rules and allowances
Inheritance Tax: general enquiries
Thank you. -
RE: Gift tax for cash gift from overseas
Hi,
Interest received from an ISA is not taxable.
You can find guidance here:
Tax on savings interest
Thank you.
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RE: Gift tax for cash gift from overseas
Hi Zara,
There are no income tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
Thank you. -
RE: Money transfer
Hi,
There would be no tax implications on this unless it generates interest in a bank, in which case the interest would be subject to tax.
Thank you. -
RE: Money transfer
Hi.
If the property was in your name when this was sold, then you may be subject to Capital Gains Tax on this if you are UK resident. There is no Income Tax due on the transfer of money itself.
You can find further guidance on Capital Gains here:
Capital Gains Tax
If you have already paid Capital Gains Tax on this in Greece, then you can advise us of this and claim for foreign tax credit relief so you are not taxed twice on the same income.
This would be done through Self Assessment.
Self Assessment tax returns
Thank you.