HMRC Admin 32 Response
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RE: Foreign student, transferring savings earned prior to being a UK resident into the UK
Hi,
No. Overseas earnings, earned in tax years, while not resident in the UK, are not taxable in the UK. Please also have a look at link below for more information on overseas studnet and foreign income.
Tax on foreign income
Thank you. -
RE: Overseas property sale with loss and uk property sale with gain in 2023
Hi,
As the loss is prior to the UK sale, then the in year losses covers the tax due and the 60 day report doesnt need to be filed. You do need to declare both on your tax return.
Thank you. -
RE: Declaring inheritance
Hi,
No. When declaring the income, you can claim Foreign Tax Credit Relief to cover any UK tax that may be due. You would need to contact the tax department of the other country regarding any excess.
Thank you. -
RE: Tracker Fund Fees
Hi,
No, you cannot claim this.
Thank you. -
RE: Foreign interest and dividends
Hi,
A UK resident individual is required to declare their world-wide income and gains to HMRC each tax year. An individual with overseas income or gains would do this by completing a Self Assessment Tax Return, no matter how small the amount of overseas income or gains and even if no tax is payable.
You would declare your overseas income and or gains in pounds sterling, by submitting SA100 (tax return) and any supplementary pages as appropriate. Overseas interest would be declare in pounds sterling on on SA106 (foreign).
You can register for self assessment at:
Check how to register for Self Assessment
Thank you. -
RE: UK Tax Resident Being Taxed At-Source in Australia
Hi,
The moment you returned to the UK to be resident, you became taxable in the UK on your Australian job and not in Australia. You will need to contact the Australian tax authorities to claim a repayment of the overpaid tax paid there, since February 2023. Unfortunately we cannot advise you how to do this.
As you are taxable on your Australian employment from February 23, you would declare your Australian employment income from February to 5 April 23 in your 2022 to 2023 tax return, SA102 (employment).
If you’re claiming Foreign Tax Credit Relief on income included elsewhere in your tax return, you should show it on SA106.
Thank you. -
RE: Tax on savings interest earned from non UK country.
Hi,
If not claiming the remittance basis, yes. See guidance at:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. -
RE: Claiming income tax losses arising from EIS loss in prior year
Hi,
Once you submit the return, it automaticlly puts a credit on your account to reflect the loss carry back. it will only do this on the original submission and any amendment to create this doesnt work. if it is an amendment you have done for 2022 to 2023.
You will need to contact our Income Tax team to have this reviewed.
Income Tax: general enquiries
Thank you. -
RE: Paying CGT on a long term savings bond considering tax allowances
Hi,
No you cannot use previous years allowances, only the allowances in the year the bond matures.
Thank you. -
RE: P85 or SA109 confused
Hi,
Yes, you can continue to use your government gateway user ID and password. he tax will be deducted each month by the letting agent. You and your wife will both be required to complete a Self Assessment Tax Return for as long as you rent out property, even if there is no tax payable.
As you are not UK resident, you will need to complete SA100, SA105 and SA109. To submit a tax return online with the residence section will require that you purchase a commercial tax return (that includes residence) and submit it. The HMRC version is not appropriate to non resident individuals. Please note that the whole tax return including supplementary pages must be submitted as a whole.
Self Assessment commercial software suppliers
Thank you.