HMRC Admin 32 Response

Hi,

UK/US citizens resident in the UK are taxable on their IRA interest in the UK. IRA's are treated differently from Roth IRA's, in that they are taxable in the UK under foreign interest. The gross interest would be declared in the self assessment tax return, using the supplementary page SA106. The interest would be treated in the same way as UK interest and attract that starting rate of £5000.00.  

Have a look at:

Tax on savings interest

DT19852 implies that tax is not payable in the USA on this interest. 

Thank you.

Hi,

You can contact us on webchat. You can use the link belowt and go to 'Ask HMRC Online'.

Self Assessment: general enquiries

Thank you.

Hi,

There are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax.  

Further guidance can be found here.

Tax on savings interest

Tax on dividends

Thank you.
 

Hi jenny,

You will need to write to the Income Tax department, the address is shown here.

Income Tax: general enquiries

We cannot advise on why the records havent been updated as we can't access your record from the forum.

Hi,

If you contact our Income Tax team we can provide further information regarding this.

Income Tax: general enquiries

Thank you.

Hi,

You are not required to report capital gains losses to HMRC. If you choose to do so and you complete a tax return, you would declare the losses on SA108 or the online section relating to capital gains. If you do not complete a tax return, then you would submit a letter to claim losses.

Thank you.

Hi,

If you have the P45, we can take details from your regarding the P45 in writing or by telephone, please contact our Income Tax team again.

Income Tax: general enquiries

Thank you.