Bill Wood

Hello HMRC, When we move from AUstralia to UK do we have to apply for the split year tax status ? ie if we leave Australia on 19th July and arrive in UK on 20 July are we automatically splitting the year like this 6 April to 19 July All relevant taxes paid in AUstralia 19 July to 6 April following year All relevant taxes paid in UK or do we have to formally ask for the split year to be applied ? Where are the forms we might have to fill out to apply for the split year treatment please ? Thanks Bill

Hello HMRC, When we transfer our total funds from Australia to UK do we have to formally notify you and prove that the money is clean ie its not the proceeds of illegal activities but rather the funds from the sale of our house and the cashing out of our super funds. How far in advance do we have to notify you ? How do we notify you ?

My previous hypothetical questions involving fictional situations were regarded as financial planning questions. Could you please put up some guidelines regarding what you mean by financial planning so that I do not ask any further financial planning questions. I am keen to better understand how HMRC treats our superannuation if we leave it in Australia. Does HMRC have any worked examples anywhere on the website, it can be a bit difficult for a layman to wade through some of the documentation and worked examples would be very helpful.

Hello, Which parts of your website should I read to better understand if HMRC would regard a profit caused by exchange rate fluctuations to be taxable to a UK resident who has an Australian SUper fund ? Thanks Bill

Hello, Which parts of your website should I read to better understand whether or not HMRC might tax a UK resident the growth on my Australian Superannuation if I leave it in Australia and do not take a pension ? Thanks Bill

Hello HMRC Admin 10, Thankyou for the responses. I do not understand your first response above - An Australian fund is unable to give advice regarding what HMRC might deem taxable, so could you explain a bit more regarding what you mean please ? Thanks Bill

Example please Jim and Jane empty their superannuation accounts and sell their house before they leave Australia and hold the money as cash in a bank account. They have $1,000,000 in that account and transfer it to the UK prior to moving to UK permanently. They buy a house and a buspass and live happily ever after. Does HMRC have any right to ask for any tax on the transferred funds ?

Example please Doris has $400,000 in a superannuation account in pension phase she makes a lump sump withdrawal of $99,000 in the 2020 tax year this is less than 25% and is tax free. She also takes her usual pension of $25,000 leaving $276,000 in the fund. The $25,000 is less than the personal allowance of 12,750 pounds so she pays no tax Can Doris make a cash withdrawal of 25% again in the 2021 tax year ie $69,000

3rd example please Fred has the equivalent of 250,000 Pounds in Australian superannuation. The fund makes no profit and no loss during the tax year but $AUS rises by 10% with respect to the UK Pound so the funds value in UK pounds is now 275,000 Pounds. Does Fred have to pay tax on the apparent profit of 25,000 pounds ?

2nd example please Doris has $500,000 in pension phase in an Australian Super fund, the fund has an extraordinary year and makes 20% after all taxes/franking credits and fees etc are taken into account. The fund rises to $600,000 Doris takes a pension of $50,000 what does the HMRC expect her to pay tax on ? $50,000 or $100,000 ?