HMRC Admin 32 Response

Hi,

We regret that we cannot reply to scenarios in this forum. If you need more detailed information, you will need to contact the Self Assessment team, 

Self Assessment: general enquiries

Thank you.
 

Hi,

There is more to consider before you can make that decision. You will need to review the guidance at RDR3 and take the residence test, to determine whether you are tax resident in the UK for the whole tax year or non tax resident in the UK for the whole tax year.

RDR3 Statutory Residence Test

This is an informed decision you will reach by yourself, based on the residency tests.

Thank you.

Hi,

Please refer to guidance at:

Trusts and taxes

You could also contact us by telephone. +44 300 123 1072

Thank you.

Hi,

We presume both your parents are resident in the UK in relation to your questions. We regret that we cannot confirm an answer to question 1. You will need to review Article 7 of the UK / Hong Kong double taxation agreement, which applies to business profits or seek financial advise.

2010 Hong Kong-UK DTA

UK savings income can be declared in writing, where it is not necessary to submit a self assessment tax return.  If your mother need to complete a Self Assessment Tax Return, she would enter the interest in either box 1 or 2 of SA100 (page TR3) depending on whether tax has been deducted from the interest.

Thank you.

Hi,

Yes. You need to complete the residence section to confirm you are claiming to be non domiciled and claiming the remittance basis.

Thank you.

Hi,

If the shares are for the same company and the same type of share, you can pool them together in a Section 104 holding (a single  pool of expenditure usually representing the actual cost of shares) where a fair and reasonable valuation can be applied to the whole.  

Have a look at:

HS284 Shares and Capital Gains Tax (2023)

You may need to submit a CG34 post transaction valuation for capital gains.  

Post transaction valuation checks for Capital Gains (CG34)

Thank you.

Hi,

1. As UK resident when you sold the property, no    
2. No, you just need to make sure you are calculating the figures in sterling  
3. The final 9 months applies to the period of ownership so this would be backdated from the date of sale. If there is a gap from that date and the date you left the property, then there would be a gain to calculate

Thank you.

Hi,

Yes, that is correct.

Thank you.

Hi RakeshJha,

The savings allowance is £1000 and this covers interest from UK and/ or abroad.

Thank you.

Hi,

Please refer to guidance at:

HS270 Trusts and settlements — income treated as the settlor's (2023)

Thank you.