HMRC Admin 32 Response

Hi Zzzx Yyy,

You will need to register as Self-Employed if the earnings are more than £1,000 in a year. You complete the tax return after the year has ended. You declare all your income from the tax year and we will calculate if any additional tax is due.

Register for Self Assessment

Thank you.

Hi gelocabatay,

You can work as many jobs as you wish. Once you have been paid by the new job, you can decide if you want your full allowance set against one job or want to split it between them.

Thank you.

Hi,

Unfortunately we do not have a timescale for this.

Thank you.

Hi,

HMRC should receive the P45 information electronically from your previous employer. In order to update your tax code, you will need to contact us after you have received your first pay to allow us to amend the code.

Income Tax: general enquiries

Thank you.

Hi sukenik,

You will need to contact our Income Tax team regarding this.

Income Tax: general enquiries

Thank you.

Hi,

As the pension pot is held in the Isle of Man, we need to review the double taxation agreement with the UK and the Isle of Man. 

Isle of Man: tax treaties

Article 17 covers pensions and advises that pensions and lump sums paid to a resident of the UK, shall only be taxable in the UK. You will need to submit a request for a certificate of residence.

How to apply for a certificate of residence to claim tax relief abroad

You will need to include details of the pension lump sum, including a gross amount. HMRC will send you a certificate of residence, which you should send to the Isle of Man tax authorites, to claim repayment of any tax deducted from the lump sum.

Thank you.

Hi Rafael,

The 7 year rule is for inheritance tax reasons as the gift would be included in part of the estate if the gift was over £3000 and was received within 7 years of the gifter passing away. This is for UK inheritance. You dont declare it as income for yourself unless it generates any interest or dividends.

Thank you.

Hi,

As it is paid in 2023 to 2024 year, the tax due will be based on your annual income for that year. As paid in April, 40% is correct on those figures.

Thank you.