HMRC Admin 19 Response

Hi,

It will be the date of the first payment of the pension.

Thank you.

Hi,

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. You can see guidance here:

Tax on savings interest

Tax on dividends

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Hi,

If that payment was for work actually done in the UK, then yes. If the work was done in Hong Kong, then no.

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 hte price redeived 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 guidance here:

SAIM3010 - Deeply discounted securities: introduction 

Thank you.

Hi,

The answer to this question will depend on the outcome of the statutory residence test and whether split year treatment applies.

RDR3 Statutory Residence Test

You can see the following guidance for background information to help you complete the residence tests.  

Residence, domicile and the remittance basis: RDR1

You can register for self assessment here:

Register for Self Assessment

Thank you.

Hi,

If the Digital Assistant is unable to answer your query it will direct you to the webchat queue.

Thank you.

Hi,

If he does not wish to contact by telephone, he can write to us. He can also include in the letter that he gives authority for you to act on his behalf and you would be able to contact us directly after that.

Income Tax: general enquiries

Thank you.

Hi,

Yes, you meet the criteria for self employment, with a turnover exceeding £10000.  

A Self Assessment tax return is required to declare the self employment income through which you can also pay any class 2 or class 4 National Insurance that may be due on the profits above the threshholds.  

The SA1 allows you to register for Self Assessment and National Insurance. You may opt to pay class 2 NIC voluntarily, as it counts towards state pension and benefits. You ca see more information here:

Set up as a sole trader

Thank you..

Hi,

You would be entitled to the starter rate due to the level of your non-savings income. You will be required to complete a Self Assessment tax return if your savings interest is above £10,000 in a year. You can see guidance here:

Tax on savings interest

Thank you.

Hi,

It is the date of your fathers death you will use and the valuation at that time will be your 'cost' price.

Thank you.