HMRC Admin 2
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RE: Gifting Property
Hi,
The gift would be seen as a sale and as not the mother's main residence, then capital gains would be due.
Thank you.
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RE: CGT On Split titles
Hi,
No, as they have different title deeds.
Thank you. -
RE: Double taxation Agreement
Hi,
You would need to look at the RDR3 statutory residence guidance and take the statutory residence test, to work out your tax residence status in the UK for 23/24.
RDR3 Statutory Residence Test
If you are tax resident in the UK for the whole tax year, you would need to look a the guidance for split year treatment. If it applies, you would claim split year treatment by completting a tax return (SA100) and declaring on SA109. You would only include that income which arose while you were in the UK.
If split year treatment does not apply, you would declare your world-wide income in the tax year and claima foreign tax credit for up to 100% of the foreign tax paid.
If you are not tax resident for the whole tax year, you only declare this on SA109 and declare your UK capital gains and income on the tax return, ignoring all of your overseas income and capital gains. For split year treatment case 1, the UK part of the tax year is the period from the start of the tax year until the start of the overseas part.
RDRM12080 - Residence: The SRT: Split year treatment: Case1: The UK and overseas parts of the tax year
Thank you. -
RE: Continueing to work remotely for UK employer from South Africa
Hi,
If you leave the UK, to return to South Africa, but continue to be employed by a UK based employer, while resident outside of the UK, you will need to submit an online P85 form.
Get your Income Tax right if you're leaving the UK (P85)
This will let you notify HMRC that you are leaving the UK and ensure that your employer can operate the correct tax code. As you will be resident in South Africa, you will be liable to pay tax on your UK employment in South Africa, as part of the double taxation treaty under article 14.
UK/South Africa Double Taxation Convention signed 4 July 2002
If you return to the UK and undertake work for this employer while in the UK, that proportion of your earnings will be taxable in the UK. You will also need to review the guidance on tax residency and take the residency tests.
RDR3 Statutory Residence Test
You may find that your visits to the UK in a tax year, when added together, mean that you are tax resident in the UK and your UK employment income will be taxable in the UK.
Thank you. -
RE: Swiss national taking UK employer pension after leaving UK
Hi,
You can find guidance on QROPS here:
PTM112010 - International: qualifying recognised overseas pension schemes (QROPS): introduction
HMRC cannot provide financial advice on the withdrawals.
Regarding the the Tax-Free Childcare, you may be able to amend this in your online account.
Tax-Free Childcare
Thank you. -
RE: Does the £60k pension annual allowance apply for employer contributions to a director SIPP?
Hi,
The £60k allowance covers all payments to pensions and the tax relief applied.
HS345 Pension savings — tax charges (2023)
Thank you. -
RE: Contributing to my SIPP pension as a director of a limited company
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RE: Changing property probate value after two years
Hi,
If you have only had one valuation done then it is the lower.
Thank you. -
RE: Tax Relief on Purchase of Equipment
Hi,
As a sole trader, they may be able to claim capital allowances.
Claim capital allowances
Thank you. -
RE: Capital Gains and Income tax personal allowance
Hi,
Your tax bracket for your pension won't change based on any capital gains due. The pension income only then determines the rate at which your gain is taxed.
Capital Gains Tax: what you pay it on, rates and allowances
Thank you.