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  • RE: Bank rebate or refund

    Hi, Good day to you. It is a follow up question. My wife is retired with income from saving interest, dividend, and rental, and pension. We understand that the settlement compensation may be taxable (capital gain tax), because it was a breach of sale and buy contract of a property. The court made the order on 16 July2021 and asked the defendant to pay within 15 days, i.e., on or before 31July2021. However, the defendant paid the settlement compensation in July 2022. My questions are: 1) what date should I report the gain? 16 July2021 or 31 July 2021 or July 2022 ? 2) if the sum of money is less than GBP12300, the capital gain allowance, should she still needs to complete the form SA108? Thank you very much. Best regards.
  • RE: BNO

    Hi, dear HMRC team, I sold an American Fund in a Singapore bank in Oct2021. It was sold for GBP37,004. I had a gain of GBP363. I understand I do not need to complete form SA108 because the asset was worth less than GBP49200 and the gain was less than GBP12300. Please advise me if I should report this in tax return. If I should, should I report in SA106, box33 or box41? Thank you very much.
  • RE: Split Year Treatment Case 4 and 8

    Dear HMRC, I am not sure if I am treated as case 4 or case 8 for split year treatment. I am a Hong Kong permanent resident and had no tie in the UK. I arrived at the UK on 01Aug2021 with BNO Visa. I rent a house with one year lease agreement starting 21Aug2021 and stay in the UK till now. I guess I am qualified for split year treatment, but, I don't know which case, 4 or 8 is more appropriate. I guess my UK part of the tax year started from 21Aug2021 but not 01Aug2021. If it is the case, dose it mean that all the income before 21Aug2021 is not taxable? Thank you very much.
  • RE: Bank rebate or refund

    Hi, Good day to you. My wife got a one-off compensation in a court order from the defendant. It was because the defendant breached a buy and sale contract of a property. The case happened in China about 3 years ago and my wife received the compensation last month. My wife became UK tax resident since 06 Apr2021. Is It taxable? Thank you very much.
  • RE: Bank rebate or refund

    Hi, good day to you. I must apologize for the vague question. I received a one-off money after a foreign currency exchange. It was a rebate after the exchange was done. Is it taxable? And, I also received another one-off money after opening a bank account. It was a bank refund. Is it taxable? Thank you very much.
  • Bank rebate or refund

    money received after opening an bank account or after a foreign currency exchange, is it taxable?