HMRC Admin 32 Response
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RE: Remittance basis and arising basis
Hi,
The remittance basis is available to individuals who are UK resident but not UK domiciled. To claim the remittance basis, means giving up your personal tax free allowance and capital gains annual exempt allowance and having your tax liability calculated on your UK income and gains and any remitted income and gains.
Where you have been resident in the UK for 7 of the last 9 years, there is a remittance charge of £30000 added to your income tax calculation.
Where you have been resident in the UK for 12 of the last 14 tax years, the remittance charge is £60000 and if you have been resident in the UK for 16 or more years, you are deemed domiciled and remittance basis can no longer be used. Instead you are taxable on your worldwide income.
Have a look at section 9 of RDR1.
Residence, domicile and the remittance basis: RDR1
Thank you. -
RE: Clarification on rules when receiving inheritance from abroad
Hi,
Please refer to below link for Inheritance Tax.
How Inheritance Tax works: thresholds, rules and allowances
The address for writing can be found here:
Inheritance Tax: general enquiries
Thank you. -
RE: Tax on CG on uncrecognised exchange (Futures & Stocks)
Hi,
Please also see below to determine if this is capital gains.
BIM53251 - Particular trades: commodity transactions
If so, the rate of tax depends on your level of income.
Capital Gains Tax rates and allowances
Thank you. -
RE: German deferred income
Hi,
PTM044100 advises an individual can have tax relief in respect of any relievable pension contributions provided the individual is:- an active member of a registered pension scheme, and a relevant UK individual in the tax year in which the contribution is paid.
Have a look at PTM044100, as it advises the earning that attract tax relief.
PTM044100 - Contributions: tax relief for members
Thank you. -
RE: Deferred CGT
Hi,
To obtain full Deferral Relief you must invest an amount at least equal to the chargeable gain. Please also see guidance at:
Capital Gains Tax and Enterprise Investment Scheme (Self Assessment helpsheet HS297)
Thank you. -
RE: Missed 5th Oct deadline for registration
Hi Raymond,
If the rental income is for the 2022 to 2023 tax year then as long as the balance is paid by 31 January 2024 late payment penalties will not be charged.
Thank you. -
RE: Unique Taxpayer Reference - UTR
Hi,
You can contact our Self Assessment team to see if you have a live UTR.
Self Assessment: general enquiries
Thank you. -
RE: Submission of SA1 online form for applying Unique Tax Reference Number (UTR)
Hi,
You can contact our Self Assessment team to see if the UTR has been allocated from your intial submission before registering again.
Self Assessment: general enquiries
Thank you. -
RE: Posted Tax Return acknowledgement
Hi,
If you have an online account you can check there, otherwise, you would need to conract HMRC.
Contact HMRC
Thank you. -
RE: Salary sacifice a cash long service award
Hi,
Unfortunately, we cannot:- give advice on the merits of a scheme
- give advance ruling on whether or not a scheme is successful.
- comment on the arrangements as schemes are a matter of employment law not tax law