Win Win
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RE: Maximum Savings Interest before paying tax
Hi, I would like to ask how to define “main income”? I retired and mainly lives on my own savings. I work as part time 2 days per week and the annual income may be about £5000. Am I qualify to have the £5000 starting rate of savings? My husband has retired and does not have pension. He only receives bank interests from bank. So he is qualify to have personal allowance, starting rate for savings and personal saving allowance total up to £18570? Thank you very much. -
RE: Commuted pension gratuity and long year service
Thank you very much for the reply. My MPF, long year payment and commuted pension gratuity have been remitted to the UK already. So under article 17, are these incomes have to be reported in my tax self assessment though need not to pay tax in the UK? Thank you very much. -
Commuted pension gratuity and long year service
Hi, I retired and moved from Hong Kong to the UK in Aug 2021 and become UK resident. Under double taxation agreement between the UK and Hong Kong, I have two questions: 1. Pension from HK employer is taxable in HK only. How about the commuted pension gratuity? It is a lump sum that taken out from my accrued pension, received in Nov 2021, need to pay UK tax? Can I put it under pension? 2. Long Service Payment was received in Nov 2021 from my last employer but it was setoff from my accrued Mandatory Provident Fund (MPF) according to HK ordinance. HK non-voluntary MPF is also known to be tax free in the UK. So, is the Long Service Payment received taxable in the UK? Thank you very much.