HMRC Admin 19 Response

Hi,

The vested RSU are charged against Income Tax and not Capital Gains Tax, so they should not be declared on the foreign section for capital gains. As the payment is from your employer, the income should be shown in the employment section if it is included in your P60. You would then claim credit for the Tax in the foreign section under 'Employment, self-employment and other income which you paid foreign tax on'.  

If it is not included in your P60, please include it in the box on the employment page for 'Tips and other payments not included on your P60'. 

You can see that the following guidance advises that when RSUs payout at the market value on what is called ""dividend equivalents"" in either cash or shares, 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

Thank you.

 

Hi,

There are no Income Tax implications regarding the gift of crypto from your brother. As you are aware, if you dispose of the crypto, then you may be liable to pay Capital Gains Tax#.

Thank you.

Hi,

HMRC will tax the pension lump sum at 40% and you claim a credit for 30% paid in the USA. This credit is set against the tax chargeable in the UK, reducing the amount payable.

Thank you.

Hi,

You can be tax resident in both the UK and Australia in the same tax year. As you are considered tax resident in the UK for the whole tax year, you will need to then consider if split year treatment applies to your circumstances. You can see the guidance on split year treatment and apply the rules to your situation here:  

RDR3 Statutory Residence Test

If split year treatment applies, then in order for you to claim it, you will need to complete a SelfAassessment tax return, SA100, and the relevant supplementary pages, including SA109, residence, and form HS304:

Non-residents tax relief under double taxation agreements (Self Assessment helpsheet HS304)

The tax treaty in place with Australia allows the Australian tax authorities to tax your UK teachers pension: 

UK/ Australia Double Taxation Convention

For future tax years, you should download and print off DT individual UK / Autralia form:

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

The completed, signed and dated form, should be sent to the Australian tax office for validation. They will return it to you stamped and signed. You should then send it to HMRC at the address on the form.

Thank you.

Hi,

Sorry, we can only answer questions appropriate to HMRC on this forum.

Please contact the Home Office for advice.

Thank you.