HMRC Admin 32 Response
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RE: Calculating PAYE manually
Hi,
There will be slight rounding differences which will catch up with itself in future months.
Thank you. -
RE: Drawdown pension from Switzerland - where is it taxed
Hi,
Yes. As you are resident in Switzerland and have a UK SIPP. You can claim a NT tax code by submitting a validated DT individual UK/switzerland form.
Double Taxation: UK-Switzerland (Form Switzerland-Individual)
Article 18(2) covers lumps sums and advises they are taxable only in the UK.
Thank you. -
RE: Tax return after 6th April 2024 for 2023-24 tax year.
Hi,
You should be able to register for 2023 to 2024 online at:
Register if you're self-employed
If you are unable to register online, you can fill in the online form, print it and post it to HMRC.
National Insurance Contributions and Employer Office Self-employment and Self Assessment Registrations Benton Park View NEWCASTLE UPON TYNE NE98 1ZZ.
Thank you. -
RE: UK Income (Non Resident)
Hi,
The pensions would remain taxable in the UK, regardless of which account the pensions were paid into.
Thank you. -
RE: Capital Gain -- Futures Contracts -- Foreign Currency Denominated
Hi,
Calculating the CGT by using the first of the two proposed methods would be quite acceptable.
Thank you. -
RE: Foreign income or UK income
Hi,
For self assessment purposes, HMRC does not impose on an individual, how they should convert an overseas currency to pounds sterling. For your convenience, you can use the the various customs and vat table of exchange rates, which can be found below or from other sources, such as the London stock exchange or the rates published in a newspaper etc.
Exchange rates from HMRC in CSV and XML format
Thank you. -
RE: Self assessment timeline
Hi,
Please have a look at the guidance on the remittance basis at RDR1.
Residence, domicile and the remittance basis: RDR1
If you choose to use the remittance basis, then you will need to register for self assessment, and submit SA100 & SA109, plus any other relevant supplementary pages. A tax return for 2023 to 2024 is only available after 5 April 2024.
You can register for a Self Assessment Tax Return at:
Check how to register for Self Assessment
Thank you. -
RE: Want to sell my ESPP Shares, quick check on CGT
Hi,
If the total chargeable gain is covered by your annual exempt allowance, then there is no requirement to report the gains to HMRC, unless you have to complete a Self Assessment Tax Return for any other reason and the disposal value of your assets exceed £49200.
You will need to declare the gains in your tax return. Non residential capital gains liability is charged at the lower rate of 10% and the higher rate of 20%. Once your income tax liability is calculation and you have unused basic rate band, the the lower rate of capital gains tax can be set against the gain up to the basic rate band. Any remaining gains are then taxed at the higher rate of 20%.
Whether you choose to dispose of all the shares at once or over several years is up to you. You may wish to seek professional advice, whether from an accountant or financial advisor. We cannot advise which.
Thank you. -
RE: About sending a SA109 after filed a self assessment online
Hi,
The HMRC online version of the tax return, does not support the submission of the SA109 (residence) section or other sections for trusts or partnerships, so to submit an online tax return, you would have to buy a commercial self assessment tax return, that does include this area.
A list of commercial software suppliers can be found at:
Self Assessment commercial software suppliers
You will be able to submit a paper SA109 to amend your captured tax return, so that you can claim split year treatment.
Thank you. -
RE: Capital Gain Tax
Hi,
If the number of months that the property was your main resdience, plus a further 9 months, is greater or equal to the number of months that you owned the property, then there will be no capital gains liability in the UK.
Thank you.