HMRC Admin 32 Response

Hi,

As a non UK resident, you would only click 'yes' to those questions that will allow you to declare UK income and Capital gains. If your only source of UK income is for example 'income from UK property', you would click 'yes' to income from UK property. As a non UK resident, HMRC cannot tax your non UK income or capital gain.

Thank you.

Hi Krisr,

The question posted was in relation to reporting / non reporting funds and Indian NRE accounts. You would therefore need to clairify which of these accounts your own Indian mutual fund falls into and follow the guidance given.

Thank you.

Hi,

Yes. When you move to fill in your return, there will be an option for foreign income. When you click on this, you will be given more questions that allow you to refine the boxes you need even further.

Thank you.

Hi,

Please have a look at CG15250 for information relating to allowable incidental costs for acquistion and disposal of an asset.

CG15250 - Expenditure: incidental costs of acquisition and disposal

Allowable costs are limited to those define in legislation at TCGA92/S38.

Thank you.

Hi,

The £1000 applies to sales and turnover. If you claim this, you cannot claim any other expenses.

Please refer to:

Tax-free allowances on property and trading income

Thank you.

Hi,

You need to tailor your return at section 3 to include the capital gains section. This then opens up further boxes and you will show the loss to carry forward at the losses and adjustments section.

Thank you.

Hi,

As it is paid in 2023 to 2024, you will declare the full amount in the 2023 to 2024 tax return. It if is beneficial to you to have the backdated amount reallocated to the correct years, you can submit a claim in writing for this to be done. The claim must show the years and amounts involved and cannot be dealt with until the return is received. The claim, if appicable, should be sent to:

HMRC, PAYE & Self Assessment
BX9 1AS

Thank you.

Hi,

You cannot do this, the loss will be carried forward to set aganst any future profits from the same source.

Thank you.

Hi,

Please refer to additional guidance at:

Paying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you.

Hi,

You cannot file the residence section online using HMRC software and will need to purchase 3rd party software.

Self Assessment commercial software suppliers

Please note, the whole return must be submitted together and you cannot send in the SA109 in paper form should you wish to file online.

Thank you.