HMRC Admin 32 Response
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RE: Gift tax for cash gift from overseas
Hi,
Yes, you are free to do whatever you want to do with a cash gift.
Thank you. -
RE: Cash gift from parents outside UK
Hi,
What you actually do with the gift is up to you.
Thank you. -
RE: Income from foreign NRE account
Hi suresh Patel,
Interest etc is charged on the arising basis. If you are resident and domiciled or deemed domiciled in the UK, when the interest arises, then this interest is taxable in the UK in the year it arises, whether you remit the interest to the UK or not.
If you are resident, but not domiciled in the UK at in the year the interest arises, and you do not remit the interest to the UK, then it is not taxable. It will, however, be taxable in the year in which you do remit the interest to the UK.
For more information, you should review the guidance on resident, domicile and remittance, which can be found at:
Residence, domicile and the remittance basis: RDR1
Thank you.
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RE: Remittance basis and arising basis
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RE: HMRC not answering phones, 3rd day and cannot get through to speak on their help line
Hi JOHN Sheldon,
You will need to contact HMRC Self Assessment team to progress chase your return.
Self Assessment: general enquiries
Thank you. -
RE: Cash gift from parents outside UK
Hi CHI HO MAN,
There are no Income Tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
Thank you. -
RE: Income from foreign NRE account
Hi jg77,
Any interest in joint accounts will be split 50/50 and the sole account will be 100%. As no income has been received from the property, you do not need to declare this.
You can find further guidance is at:
Tax on foreign income
Thank you. -
RE: Second job tax
Hi,
If you earn over the tax allowance at your main job, you would pay tax on all the income from the second job.
Thank you. -
RE: Gift tax for cash gift from overseas
Hi Ian42,
There are no Income Tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
You would not need to declare the gift, merely, the income it generates.
Thank you. -
RE: Ukrainian Income UK Tax
Hi,- Any income arising outside the UK, while you are resident or not domiciled in the UK, would only be taxable in the UK, when remitted to the UK, even in a later tax year. For Example, if you are resident / not domiciled in the UK for 2020 to 2021 tax year and you bring into the UK income from 2020 to 2021 in 2022 to 2023 tax year, you would be liable to tax on that income in 2022 to 2023.
- Using your foreign bank card to purachse goods and foods etc, would be considered remitting income to the UK and would be taxable. RDRM35020 provides guidance on monies remitted to the UK in this way.
RDRM35020 - Remittance Basis: Amounts remitted: Quantification: Conditions A and B - remittances of foreign income or chargeable gains
- You do. You will need to review the guidance at RDR1 and take the tests at RDR3, to make an informed decision.
Residence, domicile and the remittance basis: RDR1
- If you remit any of your foreign income to the UK, no matter how small, you will meet the criteria for Self Assessment. You can register for self assessment at:
Register for Self Assessment
For more advice you could contact our Self Assessment team on Number: 0300 200 3310, Text Relay: 18001 0300 200 3310, Overseas: +44 161 931 9070. (Open Monday to Friday 8am to 6pm Closed on weekends and bank holidays).
- Any income arising outside the UK, while you are resident or not domiciled in the UK, would only be taxable in the UK, when remitted to the UK, even in a later tax year. For Example, if you are resident / not domiciled in the UK for 2020 to 2021 tax year and you bring into the UK income from 2020 to 2021 in 2022 to 2023 tax year, you would be liable to tax on that income in 2022 to 2023.