HMRC Admin 32 Response

Hi,

It works under the same principles of a share loss. Please refer to:

HS286 Negligible value claims and Income Tax losses on disposals of shares you have subscribed for in qualifying trading companies (2023)

Thank you.

Hi,

As they were part of your PAYE income and included on the P60 there is no need to declare them anywhere else on the return for 2022 to 2023. There is no loss in 2022 to 2023.

Thank you.

Hi,

Please refer to additional guidance at:

TSEM6203 - Legal background to trusts & estates: life tenant - an outline

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Hi,

Please see below regarding losses.  

Capital Gains Tax: what you pay it on, rates and allowances: If you make a loss

Any loss on shares can be offset against any other Capital Gains in the same year or carried forward and set off against any future Capital Gains. The losses do not require to be for the same company.

Thank you.

Hi,

No. You will need to declare any foreign interest and dividends on the foreign page as they need to be declared for the country from where they are received.

Tax on foreign income

Thank you.

Hi Deepalatha,

If you use all your personal tax allowance at your main job then the 2nd job would normally be BR unless you are a higher rate taxpayer. You would need to contact HMRC to review the code.

Income Tax: general enquiries

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Hi,

Yes. All of your income may not be liable to tax. please refer to the link below and discuss with your employer if they are to make and application.

EIM11825 - PAYE: special type of payer or payee: non-resident employee

If so follow:

HS211 Employment — residence and domicile issues (2023)

Thank you.

Hi,

As the court has ordered a 60/40 split, your share will be 40%.

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Hi,

Yes you can transfer funds if your bank will allow it. For the joint accoint, any interest would then be split 50/50 so even if your share of the interest is over £1000, you will still be liable to pay tax on the difference. The combining of the savings rates us not applicable.

Thank you.

Hi,

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. If you are applying for split year, this needs to be done on the tax return by completing the SA109 resdience section.   

Thank you.