HMRC Admin 32 Response

Hi,

If you already have a UTR and start self employment then you woukdl need to register as self employed but it will be the same UTR.

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

Thank you.

Hi,

Please refer to:

EIM75550 - The taxation of pension income: lump sums from foreign pension schemes

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Hi,

If your total income, incuding gain, takes you over £50271, some of your gain will be liable at the higher rate.

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Hi,

After you have left the UK, you will need to complete the below form, to declare your pensions in the UK.  

Double Taxation: UK-Australia (SI 2003 Number 3199) (Form Australia-Individual 2003)

The completed and signed form should be send to the Australian tax office for validation. They will return the validated form to you, so you can forward to HMRC, using the address on the front page of the form.  

Please note for the future that this form will need to be completed everytime you commence a new pension, including state pension.

Thank you.

Hi,

No. The interest you are referring to is from your investment, making you the beneficial owner of this interest, which only you should declare. Interest the joint account generates is split 50/50 between your wife and yourself.

Thank you.

Hi,

Tax returns can be amended for up to 2 years after the due date of the tax return. For example 2021 to 2022 is due by 31 January 23, so can be amended up to 31 January 2025. Once the date has passed, you can no longer amend the tax return. Instead, you can claim Overpayment relief, if withing the allowed time frame.  
To make this claim, you must follow the guidance at:

SACM12150 - Overpayment relief: Form of claims

Incorrect claims will be rejected. Please note that for 2019 to 2020, the last date by which OPR could be claimed was 5 April 2024. For 2019 to 2020 and earlier, all time limits have passed.

Thank you.

Hi,

You can claim loss relief as normal. If the EIS share were acquired by company B, within 3 year of aquiring the shares in company A, any EIS tax relief claimed will be repayable to HMRC. Losses can be claimed in your tax return.

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Hi,

If you already complete a tax return, the R40 is not applicable and you will need to submit an amendment to your return.

The trust page is at:

Self Assessment: Trusts etc (SA107)

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Hi,

You would only refer to the employment that you still had until December 2023 and therefore select a uk employer through a UK payroll.

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Hi,

Individuals who opt into the new regime will not pay UK tax on any foreign income and gains arising in their first four years of tax residence, provided they have been non-tax resident for the last 10 years.
This new regime will commence on 6 April 2025 and applies UK-wide. Individuals who on 6 April 2025 have been tax resident in the UK for less than 4 years (after 10 years of non-UK tax residence) will be able to use this new regime for any tax year of UK residence in the remainder of those 4 years.  
This guidance advises that you cannot backdate the 4 years, which means the existing rules on remittance basis will apply for capital gains disposals arising in 2023 to 2024. If you bring into the UK, the gain arising from the disposal of the Hong Kong property, the gain is taxable in the UK as remitted capital gains.  
In order to claim the remittance basis, you must complete a Self Assessment tax return, in which you would declare the disposal of the Hong Kong property.
Thank you.