HMRC Admin 32 Response

Hi,

Please have a look at CG67800C.

CG67800C - Employee-ownership trusts

If you believe the conditions for the relief are met, then the claim can be made in a Self Assessment Tax return.

The capital gain would be declared in the tax return of the year of disposal, on the capital gains section.  

The whole amount should be declared, even if the payments are being paid over a period of time.

Relief would be claimed by reducing the gain by the amount of relief being claimed and using the code 'EOT', on the drop down, to identify the relief being claimed.

In the additional info box we would need to know information to identify the settlement, the name of the settlement and the address of its registered office, and the date of the disposal and the number of shares disposed of by the customer, as per CG67810.

Thank you.

Hi CCHK
You will report what UK interest you received and we can then check if it matches what we hold. For the foreing interest, as it was paid to you after you arrived it would be the full amount you declare if you actually remit it to the UK and are claiming the remittance basis. Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you.

Hi,

If you are UK resident and domiciled, then you are taxed on your world-wide income on the 'arising' basis. What this means is that you are taxed on the income/gains in the tax year in which they arise. This may mean that you are required to submit a Self Assessment Tax return.  

Please have a look at the self assessment criteria tool below, to check if a Self Assessment Tax return is required.

Check if you need to send a Self Assessment tax return

Thank you.

Hi M 22,

Please find the contact details here:

Self Assessment: general enquiries

Thank you.

Hi,

Please refer to:

Tax on your UK income if you live abroad

Thank you.

Hi,

That is correct.

Thank you.

Hi,

Article 17(2) of the UK/USA DTA provides the US with the right to tax any Lump Sum payment which is made from a US sourced pension scheme (including IRAs). However, the UK is also permitted to tax the same lump sum payment(s), which is in accordance with Article 1(4) of the DTA .

In these situations, double taxation will occur since both the UK and the USA can tax the same income. However, that double taxation will be eliminated in accordance with Article 24(4)(a) of the DTA which requires the UK (as the country of residence) to provide FTCR to offset the US tax correctly paid against the UK tax charged on the same the IRA withdrawal. 

To claim relief, please refer to:

Double Taxation: Treaty Relief (Form DT-Individual)

Thank you.

Hi,

1. Yes it can be an issue as HMRC wont have a record of you being at that address.   
2. Occasional nights away dont affect it.     
3. No HMRC dont issue this.

Thank you.

Hi,

The foreign income also needs to be declared as self employed income in order for it to be included in your calculation. When declaring at as foreign income at the employment or self employment page it doesnt add it.

Thank you.

Hi,

1. This refers to the number of days you spent in the UK when you were still classed as resident overseas.   
2. You need to advise how many UK ties you have.    
3. If you’ve not put ‘X’ in box 1 but you’ve put ‘X’ in box 3 because you meet the criteria for any of the split year cases 1 and 6, put the total number of days that you worked for more than 3 hours in the UK during the overseas part of the year in box 13.

Thank you.