HMRC Admin 19 Response

Hi,

No, the starter rate is for investments. You can see guidance here:

Income Tax rates and Personal Allowances

Thank you.

Hi,

You can see guidance here:

IFM03350 - Authorised investment funds (AIFs): taxation of investors within the charge to IT: distributions

CG57707 - Unit trusts: accumulation units

The first link provides an answer to the questions on the taxation of dividend and interest distributions. As you can see, these should be declared in the same way as any other dividend and gross interest payments. In this case, the payments will have been made from an overseas unit trust and should therefore be declared on the appropriate sections of the foreign income pages.

The units in the unit trust are treated as if they are shares in an ordinary company. The capital gains treatment of accumulation units is that when notional distributions, as described at CG57707, are received and are subject to Income Tax, the amount of those distributions will be allowable additional expenditure in a capital gain computation following a future disposal. As stated, this treatment applies to both UK resident and non UK resident trusts. 

Thank you.

Hi,

No, you do not declare it as income. You can put a note in the comments to say you receive this but its not taxable under the terms of the DTA.

Thank you.

Hi,

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. Losses cannot be deducted. 

You can see more information here:

SAIM3010 - Deeply discounted securities: introduction
 
Thank you.

Hi,

As your partner is resident in the UK, the lump sum form her previous employer in Spain, is taxable in the UK and not Spain.  

If any tax is deducted from the pension payment in Spain, your partner would need to submit a repayment claim to the Spanish Tax authorities. HMRC can issue a certificate of residence for the foreign penions, to support the repayment claim. You can see more information here:

How to apply for a certificate of residence to claim tax relief abroad

Thank you.

Hi,

If the scholarship income does not arise from an office or employment, it is not taxable. You can see guidance here: 

EIM06210 - Employment income: scholarship income: payments taxable as employment income?

Thank you.

Hi,

As you are in receipt of an overseas capital gain, you are required to report the overseas gain by completing a Self Assessment tax return. As the gains are below the annual exempt allowance, there is no Capital Gains Tax to pay in the UK. There is no foreign tax credit in this case, as you have no UK Capital Gains Tax to set a credit against. 

Thank you.

Hi,

It is possible that you have not paid tax, so no tax is refundable. We cannot tell what you have entered on your tax return. For a detailed answer to to your question, you would need to contact our Self Assesment team or seek professional advice.

Self Assessment tax return forms

Thank you.

Hi,

You will need to download and print off the tax return below and resubmit:

Self Assessment tax return forms

If you have evidence the tax return was received by HMRC, you should appeal any late filing penalties.

Thank you. 
 

Hi,

As your turnover for self employment exceeded £1000, you are required to register for Self Assessment as self employed and submit a 2022/23 tax return.  

Please register for a Government Gateway account here:

HMRC online services: sign in or set up an account

You should register for an individual account. This will allow you to register for Self Assessment as self employed and submit online tax returns, with the 2022/23 tax return due by 31 January 2024.

Thank you.