HMRC Admin 32 Response
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RE: Transfer of Swiss Pension
Hi Fiesta26 Emmi,
Per Article 18 (2) of the Double Taxation Agreement between the UK and Switzerland - Switzerland: tax treaties - GOV.UK, Any lump sum pension payment is taxable only in Switzerland and would not need to be reported to the UK.
Thank you. -
RE: tax year account statement
Hi,
It would be the tax year overview that they are requesting. You can print this off from your online account. In order to print your Tax Year Overview you should sign in to your online account using Government Gateway credentials, select 'View account' option on self-Assessment home page, select 'Tax years' to go to Tax Year overview page, select year to be viewed from dropdown menu, select 'Go', select 'Print your tax year overview'.
Thank you. -
RE: Tax from Employment for an overseas company without UK presence in the Uk and overseas
Hi,
UK residents are required to declare their worldwide income in the UK through Self Assessment. Please see link below.
Tax on foreign income: Overview
You meet Self Assessment criteria as you were in receipt of foreign income for tax year 2022 to 2023. If not already done so you should now register for Self Assessment. As your UK employer continued to pay you whilst on maternity leave then all income and tax will be included on your P60 for the year and should be included in your Self Assessment return.
Thank you. -
RE: Capital gain tax on foreign property calculations
Hi,
You can apply any of the spot rates for the exchange rates for the tax years in which the property was purchased and sold. It must be done in sterling for all costs. You cannot just use the gain at the date of exchange. No deductions are due for the peroid 2004 to 2008 unless you paid for capital improvement to the property (eg new windows/kitchen).
Thank you. -
RE: CGT Residential Property Loss & 60 days reporting
Hi,
If you are UK resident, you do not need to report a loss for UK residential property. If you are not UK resdient, you need to report the sale whether it is a gain or a loss.
Report and pay your Capital Gains Tax
Thank you. -
RE: Interest from savings account
Hi,
Yes, the bank will report the interest details to HMRC and we will review the record and issue a calculation if underpaid or over paid in tax.
Thank you. -
RE: Tax liability if receiving money from abroad for sibling
Hi,
If it is cash only then no. For property or shares, there would only be tax due when the asset was then sold on.
Further guidance is at:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. -
RE: How to report Indian Mutual Fund gains in UK Self Assessment Tax return
Hi,
You would need to ask the Indian authorities what evidence they actually require.
Thank you. -
RE: Sale of Overseas Property
Hi,
If you are resident in the UK you are required to declare your worldwide income in your Self Assessment tax return.
Your foreign gain should be declared on SA108.
If foreign tax has already been paid on your gain then you should also complete SA106 to claim your foreign tax credit relief.
Please see page 6 of SA106 at question 33 onwards – Capital Gains – Foreign Tax Credit Relief and Special Withholding Tax.
Thank you. -
RE: Information in online Self Assessment for a deduction related to employer NIC for stock options
Hi,
Please refer to:
Employment-related shares and securities (Self Assessment helpsheet HS305)
Thank you.