HMRC Admin 32 Response

Hi,

If you are resident in Switzerland in the tax year in which you withdraw funds from your tax return, you will be subject to Swiss taxes and not UK taxes.

If you are resident in the UK at the time, you will be liable to UK tax and not Swiss taxes.  

You would have to request a certificate of residence using link below, to give to the Swiss tax authorities, along with any other forms they would require, to claim back any tax they may have deducted.  

How to apply for a certificate of residence to claim tax relief abroad

Have a look at article 18 of the UK / Swiss tax treaty for more information.  

1977 Switzerland/UK Double Taxation Convention as amended by the 2009 Protocol

Thank you.

Hi,

If you received overseas interest between November 2022 and 5 April 2023 you should register for Self Assessment and complete a 2023 return, as 'in receipt of overseas interest' is one of the Self Assessment criteria.              

Check if you need to send a Self Assessment tax return                                

Tax on foreign income                                                                  

Thank you.

Hi,

If an underpayment is being collected in your tax code then the restriction in your code is calcuted at your tax band to collect this back.

For example if underpaid £400 and a basic rate taxpayer at 20% the restriction to collect the underpayment would be 2000. 2000 at 20% = £400.

Thank you.

Hi,

If customers choose to reinvest the money, they get cash dividends from the corporation. They will still be responsible for paying taxes on all those amounts. But if the business reinvests its dividends to buy more shares, it won’t have to pay taxes until they sell them.

Thank you.

Hi,

No, you cannot carry this forward as relief can oly be given in the year the tax was deducted. Any excess would need to be claimed back from the country(ies) that deducted the tax.

Thank you.

Hi,

Just the interest.

Thank you.

Hi,

This would be reported as foreign income under dividends.

Thank you.

Hi,

You ceased to be resident in the UK in the 2022 to 2023 tax year and ceased your self employment in that tax year. Your 2022 to 2023 tax return should have included the residence section, so that you can declare that you are only resident for part of the UK tax year. If you have not done so, you will need to send an amendment to your tax return, by sending a completed SA109, with a short note advising why you are sending it.

If you have no UK income at all in 23/24, then a tax return is not required, you should also confirm if that is the case and that no futher tax returns are due, as you do not meet SA criteria.  

If you have income from UK property, then you will  need to complete a tax return.  

Have a look at the self assessment critreria tool at:

Check if you need to send a Self Assessment tax return

Thank you.

Hi,

You would need to contact our Self Assessment team for your record to be accessed.

Self Assessment: general enquiries

Thank you.

Hi,

You can open a new cash ISA, but only transfer a maximum of £20000 minus £1000 contribution from this year.

Thank you.