HMRC Admin 32 Response

Hi,

No. You may in fact have a charge.

Beneficial loan arrangements (480: Chapter 17)

Thank you.

Hi,

If you are claiming split year treatment, then yes. 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 at GOV.UK will help you work out if split year treatment applies. 

Thank you.

Hi,

No. These are classed as general costs in maintaing your property and not deductable. Please refer to below to see what is allowable.

CG15250 - Expenditure: incidental costs of acquisition and disposal

Thank you.

Hi,

The sale of UK residential properties ,ust now be done within 60 days using a new method.

Report and pay your Capital Gains Tax

Ideally this is done online but  there is a link in this to download a paper copy of the property return to send in to us by post.

Thank you.

Hi,

1. It starts from your self employment. Any class 4 would take into account an adjustment for Class1 paid.  
2. Only 1 personal allowance of £12570 covers the income for the whole tax year.

Thank you.

Hi,

It depends on the type of policy. please refer to guidance at:

Gains on foreign life insurance policies (Self Assessment helpsheet HS321) 

IPTM3400 - When events occur

Thank you.

Hi,

You would be liable on any gain made above the £6000 annual exempt amount irrespective of putting a balance into your ISA. The initial 18k investment would be your 'cost' price and would be deducted from the gain.

Thank you.

Hi C CYK,

As you are receiving an income, yes you need to report these as foreign dividends on the SA106.

Tax on foreign income

Thank you.

Hi

This would be 2 so separate accounts for income and expenses need to be kept. The business name will be under your own name for both unless you use a different name for your acting.

Thank you.

Hi,

You have not given enough information to confirm. Please refer to link below and section 1.5 to see if you meet the conditions of a clean fund.

Remittance basis 2023 (HS264)

Thank you.