HMRC Admin 32 Response

Hi,

No, you dont need to declare the actual benefits that are paid in. However, if any interest is generated in the account, you need to declare this.

Thank you.

Hi,

Please refer to the online checker.

Self Assessment tax returns

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Hi,

The SA108 is not applicable to the sale of UK residential properties until you are actually filing your tax return hence the reason it is not there for the 2023 to 2024 tax year. Any gain for residential property must be reported and paid within 60 days, link given in previous reply.

You can also contact our Income Tax team to have a paper version of the property disposal return issued to you.

Income Tax: general enquiries

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Hi,

The main effect for UK investors who have invested in non-reporting funds, as opposed to reporting funds, is that on disposal of their interests they will be liable to tax on any gain arising as if it were income (that is, an offshore income gain, or ‘OIG’) instead of as a capital gain.

There are certain exceptions to this, please see IFM13400 onwards. 

IFM13400 - Offshore Funds: participants in offshore funds: the charge to tax on disposal of an interest in a non-reporting fund

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Hi,

Split year treatment may apply. If you qualify for split year then you only report any foreign income for the UK part of the year.

RDRM12000 - Residence: The SRT: Split year treatment

If you do not qualify then you will need to report all your foreign income to the UK.

Tax on foreign income

The guidance at RDRM12150 will help you work out if split year treatment applies. 

RDRM12150 - Residence: The SRT: Split year treatment

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Hi,

You can register anytime prior to 5 October 2024.

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Hi,

This depends on whether you see that as a trade or not.

BIM22020 - Meaning of trade: exceptions and alternatives: betting and gambling - spread betting

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Hi,

If they are all from the same country you can add them all together for one entry.

Thank you.

Hi,

HMRC are unable to answer this for you. your residenance and remittance basis is for you to determine. however, we can confirm, if you are not claiming the remittance basis you are liable on all your income received. You may therefore want to speak to a financial adviser.

Thank you.

Hi C CYK,

Further to your most recent post, yes. Please see further guidance below.

Tax on foreign income

Thank you.