HMRC Admin 32 Response

Hi,

Capital gains tax would be the only tax on money arising from the disposal of an asset.  

If you were to bring the capital from the disposal to the UK, you would only pay Capital Gains Tax if a gain arises and no other tax on this money.

Thank you.

Hi,

From 06 April 2024 you can open and pay into/subscribe to more than 1 ISA. The limit remains at £20,000 no matter how many you open.

Thank you.

Hi,

You should apply it as soon as possible.

Thank you.

Hi,

As UK resident you will include the income as part of your self employment turnover and pay the tax and NI in the UK.

This applies to all scenarios you mention.

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. 

Thank you.

Hi,

Please refer to:

Remittance basis 2023 (HS264)

Thank you.

Hi,

The refund is not taxable but you will need to declare the interest. If you were UK resident at the time of the sale of the property and claimed foreign tax credit relief you will need to amend the amount claimed as the tax paid abroad has now been refunded.

Thank you.

Hi,

How much and when you transfer is your own choice but may need to be declared.

Remittance basis 2023 (HS264)

Thank you.

Hi,

The cost is inlcuded and entered under the AIA section and should not be included in the expenses section.

Thank you.

Hi,

Please refer to:

EIM06235 - Employment income: scholarship income: meaning of full time education

Thank you.