HMRC Admin 19 Response

Hi,

Depending on the amount, length of time and how the funds are held, there may be Income Tax implicatoin if the funds generate interest or dividends. These would then potentially be subject to tax. You can see guidance can be found here:

Tax on savings interest

Tax on dividends

Thank you. 

Hi,

If you are self employed and not tax resident in the UK, you would not be taxable in the UK on your freelance earnings and your earnings would not be subject to class 2 or class 4 National Insurance. You would not need to report your freelance income to HMRC.  

We cannot comment on whether you would be taxable on your freelance earnings in the other countries you visit.

Thank you.

Hi,

If you will continue to be paid by your US employer, while working in the UK, you will need to declare your foreign income in a Self Assessment tax return.  
As you will no doubt need to declare your income to the IRS, you should claim a foreign tax credit for any tax paid in the UK on this income.  
As a UK resident, the UK would be entitled to tax this income first.  
You would have to contact the National Insurance helpline for advise on any National Insurance contributions payable.

National Insurance: general enquiries

Thank you.

Hi,

Tax was payable at the time the stock was vested and US tax was witheld then.  

As you are now disposing of the stock, only Capital Gains Tax is payable on any gain arising from the disposal. The receipt of any foreign income and, or, capital gains is criteria for completing a Self Assessment tax return.

Thank you.

Hi,

We cannot comment on future events as legislation and, or, plans may change. You can see current guidance here:

Tax on your UK income if you live abroad

Thank you.

Hi,

You can see guidance here:

CG13360 - Bed and breakfasting: conditions to be satisfied

Thank you.

Hi,

You need to report the gain again in order to report the details already declared and paid.

Thank you.

Hi,

In year capital losses must be used first against any capital gain even if that means you do not get the full benefit of the annual allowance for the year. You can see information on reporting gains here:

Report and pay your Capital Gains Tax

Thank you.

Hi,

This would be classed as self employment. You can see guidance here:

Tax on foreign income

Thank you.

Hi,

Normally, if we receive a repayment claim for multiple tax years we will issue a separate calculation for each tax year with a breakdown of how the repayment has been calculated, but one cheque for the total amount. The calculations will generally show the amount overpaid for each tax year with this being carried forward to a future tax year.

Tax relief on job expenses is given at your highest rate of tax, so job expenses of £143 at the basic rate would result in a repayment of £143 x 20% which equals £28.60 approximately overpaid each year. You can see guidance here: 

Claim tax relief for your job expenses

Thank you.