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  • SA109 Box 40

    Hi, I am going to adopt remittance basis and complete my SA109. When I input the figures for nominated income or capital gain, additional informations are required to put under Box40. For example, I am considering to indicate my nominated income was coming from stock dividends and nominated gain was from sale of property. May I know if this level of details are sufficient for the purpose? I am afraid that providing a breakdown of dividends which amounted to 100 or less gbp would be an inefficient approach for both myself and the HMRC reviewer. Regards Lai
  • Self Assessment / SA109

    Hi, I was working in UK for last year and my employer had submitted P60 for my tax assessment purpose. Since I relocated to UK in the middle of last year, I had to file an self assessment on top of my UK income for applying Split Year and Remittance Basis. In this circumstance, do i need to submit another SA100 to repeat the figures in P60? Or I can just supplement the SA109 alone? Regards Lai
  • Foreign Currency held in Bank Account

    Hi, I moved to UK in Jul 2021 and before I arrived, I had transferred some USD and HKD to a foreign currency bank account in UK. Now I plan to convert these USD and HKD to Sterling for use in UK. To evaluate the potential capital gain tax exposure, I had visited the following: (1) CG78300 - Foreign currency: introduction "Currency other than sterling is a chargeable asset and its disposal can give rise to a chargeable gain or an allowable loss." (2) CG78320 - Foreign currency: foreign currency bank accounts "From 6 April 2012 the treatment of foreign currency bank accounts was simplified. From that date the treatment of foreign currency bank accounts for individuals, trustees and personal representatives (including members of a partnership) were aligned with the treatment of ‘simple debts’. TCGA92/S252. Such debts will not give rise to chargeable gains (or allowable losses) in the hands of the original creditor." Based on the above, I understand that if convert my USD / HKD from my foreign currency bank accounts to Sterling (as of Dec 2022), no chargeable gain or loss is involved thus there is no Capital Gain Tax involved. Please kindly let me know if my understanding is correct. Regards Lai
  • RE: Filing of SA109 form

    Hi, I have to apply for split year and remittance basis for the 21/22 tax year but I have no income after landing UK. Is it alright for me to just fill in SA109 and skip SA100? Many thanks!