Ron
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Joint overseas account with wife
Hi I have accounts in an overseas bank which I jointly hold with my wife. Actually the money in the accounts is entirely mine and all remittances to the UK from that account are done to my account in the UK which is in only my name. Since we are both going to be UK tax residents and claiming the Remittance basis, should my wife also do the self assessment and report 50% of the remittances from the overseas account (being joint) while I report the other 50%. Can I report the entire 100% Remittance on my self assesement. In this case will she still need to do her self assessment since I am claiming the entire remittance and paying tax on it. Thanks -
Remittance basis clean capital and Interest on Fixed Deposit
Hi I have clean capital i a foreign bank. I want to put this into a Fixed Deposit in the same bank. I have the following questions; 1. On maturity, if the interest from this FD goes into a separate account and the capital goes into the original account, will the capital still be clean capital. 2. If the interest and capital go into the same original account, will the capital amount still be considered clean capital. Thanks Ron -
RE: Remittance basis clean capital transfer to UK bank account with mixed transfers
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Remittance basis clean capital transfer to UK bank account with mixed transfers
Hi I have a single UK bank account where I transfer money from abroad for my expenses and this is usually from mixed accounts. I am planning on purchasing a property in the UK and will transfer money from my clean account abroad to my UK account and then to the solicitor. Since the UK account is mixed, will this amount be taxable or will it be tax free, since it is clearly identified as from a clean account abroad. Also, is tax payable to HMRC, eg SDLT tax also considered a remittance, and if remitted to the UK from abroad, and will it itself be taxable, either from a clean or mixed account -
Work Tie - working remotely in the UK
Hi I was in the UK for more than 140 days in 2021-2022. During this time I was working remotely in the UK for a foreign company (2 hours a day), and the salary was credited to my foreign account. For determining my UK residency status will this be considered a work tie.