HMRC Admin 19 Response

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 as 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,

You would simply transpose the income from a US tax year, 1 January 2022 to 31 December 2022, into the UK tax year, 6 April 2022 to 5 April 2023. You do not need to apportion to try and match the UK tax year. For example, if you earned £10000 of interest in a US tax year, you would declare £10000 interest is a UK tax year.

Thank you.

Hi Elizabeth Custance,

To apply for Specified Adult Childcare credits please complete and return our form CA9176 ‘Application for Specified Adult Childcare Credits’

Apply for Specified Adult Childcare credits

There is space on the application form to apply for a number of previous tax years on one application.

Thank you.
 

Hi StanStan Stev,

To apply to transfer the National Insurance credits from your daughter to your National Insurance account please complete and return our form CA9176 ‘Application for Specified Adult Childcare credits’ which you can find here: 

Apply for Specified Adult Childcare credits

If credits are awarded for part of the tax year then this will not enable the tax year to count for pension purposes unless there are contributions or other credits recorded.

Thank you.

Hi,

The completed Status means that we have processed your application. U1 Certificates are issued by post to the address you supplied on form. If you do not receive the certificate, or request for further information, after approximately 3 weeks from applying, you can contact our National Insurance team for non-UK residents.

National Insurance: non-UK residents

Thank you.

Hi Pancho99! alderton,

HMRC are unable to give any advice on pension entitlement. Therefore the letter we sent would have simply confirmed whether or not you had been awarded NI credits. HMRC do not know if the awarding of credits will increase your pension entitlement.

Your NI record will have been updated to show these credits on the day that the letter was issued. If we make a change to a NI record where a benefit claim, such as pension or ESA, has been made, an electronic update is sent to the DWP to advise there has been a change to the NI record. It is then down to the DWP to act on this information and establish if a recalculation of any benefit currently in payment is needed.  

HMRC cannot say how quickly the DWP will act on this information, however if the credits were awarded more than 8 weeks ago, we would suggest you contact the Pension Services on and ask them to review your claim.

Contact the Pension Service

Thank you.