HMRC Admin 32 Response

Hi,

As of 6 April 2024, you can now open more than 1 cash ISA each year. the deposit limit is still 20k over how may you have in each tax year.

Thank you.

Hi,

As you're earning over the trading allowance, you would need to register for Self Employment to declare this income.

You can do so here.

Check how to register for Self Assessment

Thank you.

Hi,

If your savings income is less than £10,000, you do not need to complete a Self Assessment return to declare this. Interest from savings will be automatically declared to HMRC by your banks and building societies following the end of the tax year.
You can read more at:

Tax on savings interest

Thank you.

Hi,

Please refer to Article 6 of the Double Taxation Agreement held between the UK and Italy which states “Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State.” The income is taxable in the UK.
I am unaware of the Italian tax regime. You should consult with the Italian Tax Authorities.
Thank you.

Hi,

You would treat each month as a full month irrespective of the number of days.

Thank you.

Hi,

The pension is fully taxable in the UK. How you wish to withdraw the pension is up to you but you may wish to discuss with a financial adviser.

Thank you.

Hi,

Yes, please see guidance at:

Check if you need to pay tax when you sell cryptoassets

Thank you.

Hi,

You may claim that the loss be set against your income of the year in which the loss arose or against your income of the preceding year.
If the loss is sufficiently large, you may claim that it be set against the income of both years.
If you claim for both years, your claim should show which year is to take priority.

HS286 Negligible value claims and Income Tax losses on disposals of shares you have subscribed for in qualifying trading companies (2024): How the relief is given

Thank you.

Hi,

Please see guidance at:

ERSM180020 - CGT Interface

Thank you.

Hi,

For more advice on your state pension, you can contact the Pension Service, via:

Contact the Pension Service

Thank you.