HMRC Admin 32 Response

Hi,

A partnership return will be required to show the overall position and then each partner must also declare their own share. 

Set up a business partnership

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Hi,

No Capital Gains Tax is due as you did not own the asset. The funds would be seen as a gift.

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Hi,

Bank transfers can only be sent to UK accounts. We can reissue the cheque to a nominee appointed by yourself, who can then transfer the money to you.
To arrange this you can contact our Income Tax team below.

Income Tax: general enquiries

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Hi,

No. National insurance is not part of Chargeable event gains. Only income tax may be chargeable.

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Hi,

If you do not need to complete at tax return, then all you would need to do is write to the below address to declare the gross amount if dividend you received in the tax year.

H.M. Revenue and Customs Pay As You Earn
BX9 1AS

Our colleagues would include this in your tax liability calculation and would send you a tax calculation, to you to advise how much tax is payable.  
If you do need to complete a Self Assessment Tax Return, you would declare the dividends in box 4 - 'Dividends from UK companies' on page TR3 of SA100, or the 'Dividends from UK companies' box on the online tax return.

Thank you.

Hi,

As you are 60, you can withdraw from your lifetime ISA. What you do with the savings, is up to you. As the lifetime ISA is not a pension, there would be no recycling, should you invest the savings in a SIPP.  
Guidance on lifetime ISAs, can be found at:

Lifetime ISA

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Hi,

ERSM20193 advises "The RSU may pay out what are often referred to as “dividend equivalents” in either cash or shares and such payments may be rolled up and paid out at the time the RSU vests or paid out on a regular basis, perhaps to match the payment of actual dividends on shares in the company. Such payments will generally be taxed as earnings in the year they are received".  

ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents

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Hi,

You will need to register as self employed if you wish to pay voluntary class 2 NIC, even although you are completing a self assessment tax return each year.  
Self assessment is used to collect class 2 and class 4 NIC, where the net profits meet the NIC thresholds.

Rates and allowances: National Insurance contributions

You can register at:

Set up as self-employed (a 'sole trader'): step by step

Thank you.