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  • capital gain in self assessment as non-UK resident but with UK account

    Dear HMRC, I lived abroad since 2014 and currently I am still a non-UK resident. But I still use my UK trading account to buy funds, stocks and futures. However I didn’t make gain from those trading. Should I report those gains and losses in Self-Assessment each year? I understand that I don’t pay Capital Gains unless I return to the UK within 5 years of leaving. Therefore I understand that I don’t need to do the self-assessment. Is there a penalty if my understanding is wrong and I am supposed to do the self-assessment? If I need to do the self-assessment, can I calculate all the gains and losses since 2014 in this current year’s self-assessment?
  • Query on Tax Split Year Treatment

    I couldn’t understand the tax split-year treatment. https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm12170 RDRM12170 - Residence: The SRT: Split year treatment: Case 5: Starting full-time work in the UK I am a British citizen. I moved abroad 5 years ago to work full time. Every year I visited the UK for between 30 days to 60 days for holidays. My family lives in the UK. I have my own rented home abroad. Now I plan to move back to the UK to take a full-time employment in September. In this case, I will spend over around 200 days in the UK in this financial year 2022-2023. Am I entitled to the tax split-year treatment? For my wages abroad in this financial year, do I need to pay UK income tax after I move back to the UK? If I delay my return to the UK in November, I will spend 150 days in the UK during this financial year. Will I still pay UK income tax on my UK wages as I will spend less than 183 days? I will be on PAYE payroll in the UK after I come back to the UK.
  • do I need to pay UK income tax on my oversea income while I am working full time abroad

    Dear HMRC, I have worked in the Middle East since 2014. I plan to return to UK in September. Do I need to pay UK government income tax on my income between Apr to Sept 2022? I understand that I will spend more than 183 years in UK if I return to UK this Sept. Can my tax year be split into non-resident while I am working abroad, and uk-resident after I return to UK in this tax year as I left UK since 2014? Many thanks,
  • Query on the tax calculation for new UK arrivals

    Monthly salary 5,000. The annual salary is 60,000 pounds. Arrive in UK and start to work on 1st October. Company employer PAYE deducts tax based on 60,000 annual income. The total income from Oct to the coming March (end of tax year) is 30,000. For total tax year, is the tax based on the annual salary 60,000 pounds, or based on the actual income from Oct to March 30,000 pounds while work in UK? At the end of tax year on P60, will the tax be recalculated based on the working month income, and over-paid tax to be refunded?