HMRC Admin 19 Response

Hi,

If this is a bond from America, then US government bonds, sometimes known as T-bills or treasury bills are generally taxed as income rather than capital gains. The return is paid at maturity rather than regular interest payments. In the UK, these are known as deeply discounted securities, with the discount being the difference between the price at which they were issued and the price received at maturity.  

On a foreign investment, the income is the difference between the purchase and redemption price after each has been converted to sterling on the day the transactions took place, so includes any foreign exchange gains. Any losses cannot be deducted. You can see guidance here:

SAIM3010 - Deeply discounted securities: introduction

Thank you.

Hi,

You can see guidance below, in paticular, the reference to the S104 holding : 

Shares and Capital Gains Tax (Self Assessment helpsheet HS284)

Thank you.

Hi,

The payment would form part of the winnings and therefore not liable to CGT.

Thank you.

Hi,

No, it does not make any difference.

Thank you.

Hi,

You would need to split the income and the tax deducted to match the UK tax year. When declaring this, it also needs to done in sterling.

Thank you.

Hi Mandy
If you are unable to file 2023 to 2024 Self Assessment  return online then the options are to file using 3rd party commercial software: Self Assessment commercial software suppliers
Or you can contact us to issue the paper tax return: Self Assessment: forms ordering
Thank you.

Hi,

On your online account select 'more details about Self Assessment returns and payments - more Self Assessment details – tax return option and then choose the dropdown and change to 2022/23 to file the tax return. 

Thank you.

Hi,

If you are a higher rate tax payer then you can claim relief on the pension contributions. As you are paying additional payments into your pension, it would be recorded in box 1 on TR4 with details of any one off payments in box 1.1.

Thank you. 

Hi,

No, you do not need to report this as you are a basic rate tax payer. 

Thank you.

Hi Romina Devkota,

You can see guidance here:

Check how to register for Self Assessment

Thank you.