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  • RE: Receiving non UK income on UK tax account

    Thank you for your answer. Are you sure it applies to my situation? The link you sent says at the top: "Find out about paying tax on the remittance basis if you're a UK resident who has foreign income and gains but do not live in the UK." I am NOT a UK resident, and have not been for several years. I pay tax as a non resident. As per the guidance here: https://www.gov.uk/tax-foreign-income/residence "You may be resident under the automatic UK tests if: you spent 183 or more days in the UK in the tax year your only home was in the UK for 91 days or more in a row - and you visited or stayed in it for at least 30 days of the tax year you worked full-time in the UK for any period of 365 days and at least one day of that period was in the tax year you’re checking" I have not set foot in the UK for the last 5 years, and have been filing as a non resident since then.
  • Payments received by non resident

    Hi, I have been living abroad, and have been a non-UK resident for tax purposes for several years now. As a non resident, I disclose and pay tax on all my UK generated income (salary and dividends) which is paid to me as a Director of my limited company through the SA102 form. However, I have additional professions in the country I am currently residing in, and get paid in Euro into a multi currency account which is based in the UK. I am aware that I do not need to pay tax on my non-UK generated income while living abroad. However I have a few questions regarding your treatment of non-UK income: - do I need to disclose it to HMRC in any way (in the SA102 form for example)? - is the fact that I receive it in a UK based Euro account a problem now or in the future for HMRC; could it raise any red flags and trigger an investigation? Thank you for your help.
  • Receiving loan repayment from friend

    Years ago I loaned a substantial sum (£8000) to a friend, and he will now repay it into my bank account. If HMRC decides to investigate and starts asking questions about the money received, how can I prove this was a loan that is now being repaid? The loan was made at zero interest, and I will not make a profit from it.
  • Receiving non UK income on UK tax account

    Hi, I am a UK non resident for tax purposes and have not resided in the country for a few years now. I am also a Director at my UK limited company, and draw a salary and dividends every year, which I report via SA102. I have started another job at a foreign company, and I am now receiving my income from that in a UK bank account which is denominated in Euro. I would like to understand the following: 1) I am aware that as a non resident I do not need to pay tax on non UK derived income. But do I need to report it to HMRC in my next SA102? 2) If I do not need to report it, is there any risk that my account is "flagged" by HMRC, triggering an investigation, since I am a non resident but receive undeclared foreign income in a UK bank account? 3) What are the tests used to determine if income is UK derived or not? Thank you for your help.