HMRC Admin 32 Response

Hi,

The overseas part of the tax year starts at the beginning of the tax year and ends the day before the earliest point at which an individual meets the 'only home' test. So, on the basis of the info you have provided, the UK part of the split year began on 25 July. Please however refer to the following guidance for confirmation of your residency/ split year position.

Thank you.

Hi,

As you are not resident in the UK and have income from UK property, you will need to complete a Self Assessment Tax Return every year, whithout exception.
As the income from the UK property is jointly owned, both of you will need to declare 50% of the gross proift in a Self Assessment Tax Return. Both of you can choose to claim £1000.00 property income allowance, instead of claiming expenses. The net profit is added to any other UK income and if you are entitled to claim personal allowances, the personal allowance of £12570, is set against the total income. If the income is below the personal allowance, there is no tax liability.

Thank you.

Hi,

Yes, you may have Income Tax to pay on the gains arising from the surrendered policy, even if you transfer the remainder into another saving scheme. For UK policies, there will be a notional tax, equivalent to the basic rate, that may offset any further tax liability. If the gain is over £10000.00, you will need to report the gain in a Self Assessment Tax Return.  

Have a look at HS320.

HS320 Gains on UK life insurance policies (2023)

Thank you.

Hi,

If you contact our Income Tax team we can amend the codes.

Income Tax: general enquiries

Thank you.

Hi,

1. Unremitted income arising in and declared in 2021 to 2022 tax return, would only be taxable in 2022 to 2023, if it was remitted to the UK in 2022 to 2023.  If you choose to apply the arising basis in 2022 to 2023, then you would declare all of your world wide income arising in 2022 to 2023 and any remitted income from a previous tax year, now remitted to the UK.
2. No. You are taxed on the arising basis by default in the UK, unless you elect to use the remittance basis. You will never be taxed using both method in the same tax year.
3. Boxes 44 and 45 of SA109 are used to declare unremitted income and capital gains. Box 40 is a freehand box and is used to provide a breakdown of the figures in boxes 44 & 45.

Thank you.

Hi,

Non UK residents cannot normally open an ISA. Expats may be able to keep their ISA, but they cannot add any more funds to it or open a new one, as long as they are not resident in the UK. We cannot advise you with regards what to do with your existing ISA. You may need to speak to an financial adviser.

Thank you.

Hi,

Please see below as you may be able to claim a refund now.

Tax when you get a pension

Thank you.

Hi,

Yes, overseas bank interest, is foreign income (SA106) and requires a Self Assessment Tax Return (SA100).  You will need to check the guidance at RDR3 and take the residency test, to see if split year treatment applies.  

RDR3 Statutory Residence Test

If it does apply, you can only claim split year treatment throug a Self Assessment Tax Return (SA109).  The foreign interest will be treated in the same way as UK interest.  

Have a look at:

Tax on savings interest

Thank you.

Hi MClay Clay,

If you contact our Income Tax team we can look into this.

Income Tax: general enquiries

Thank you.

Hi,

The salary payements were for work carried out while you were resident in Hong Kong.  These salary payments will not be taxable in the UK.  If split year treatment applies, it would start from the date you arrived in the UK.  The tax return supplementary page SA102 Box 1, is for the amount of overseas employment income converted to pounds sterling.  You would also show the foreign employment page (SA106) income and tax deducted (in pounds sterling).  The completion date of the sale of the property was while you were resident in Hong Kong.  Any gain arising from the disposal would not be taxable in the UK.

Thank you.