HMRC Admin 19 Response
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RE: Remote consultancy paid in Euros = "foreign income"
Hi,
No, you would class this as self employment income.
Thank you. -
RE: Foreing Income where tax year is different to UK
Hi,
Yes, you can.
Thank you. -
RE: Reporting savings interest
Hi Reuben Lee
Interest is reported to HMRC by financial institutions after the tax year has ended. As you have correctly stated you do not need to complete a return to report interest unless it is more than £10,000 or you meet other Self Assessment criteria.
If you complete the criteria tool you can send a request to be removed from Self-Assessment if applicable.
Check if you need to send a Self Assessment tax return
Thank you. -
RE: taxation from Hong Kong employment
Hi,
You need to pay tax on the UK income whilst you are in the UK.
As you have now left the UK and are no longer resident, you will not declare any Hong Kong income in the UK as the employment duties are not carried out in the UK and as such are only taxable in Hong Kong.
Thank you. -
RE: Employee Share Incentive Plans
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RE: Forex CFD trading
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RE: Money transfer
Hi mer,
There are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax. Further guidance can be see here:
Tax on savings interest
Tax on dividends
Whilst there are no Income Tax implications on the giving or receipt of cash gifts, you may wish to speak to Inheritance Tax regarding any InheritanceTtax implications
Inheritance Tax: general enquiries
You can also review the guidance here:
How Inheritance Tax works: thresholds, rules and allowances
Rules on giving gifts
Thank you. -
RE: Digital nomad in Colombia - income tax and NI?
Hi,
This will depend on whether you are regarded as UK resident. Please see guidance here:
Tax on foreign income
The Statutory Residence Test will help you determine your residence status:
RDR3 Statutory Residence Test
Thank you.