HMRC Admin 19 Response

Hi,

Please contact the Inheritance Tax team for advice.

Inheritance Tax: general enquiries

Thank you.

Hi,

If the amount is over £2000 it should be on the foreign income page and the amount of tax due is dependant on the level of your total income received. It is not taxed at the same rate as interest. You can see guidance here:

Foreign notes (2022-23)

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Hi,

You can see guidance here:

INTM413210 - Transfer pricing: the main thin capitalisation legislation: Payments of yearly interest made overseas

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Hi,

This would depend on how long you are back in the UK as you may now be classed as UK resident. Please refer to guidance here:

RDR3 Statutory Residence Test

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Hi,

You will be classed as self employed and as such will need to register for Self Assessment. You can see information here:

Working for yourself

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Hi,

If your wife is the sole beneficiary of any income arising, then she would be liable on the whole CGT charge.

The form17 would need to be submitted with a declaration of trust in order for the alternative split to be approved and, or, noted. This can then be altered at any time prior to the sale of the property.

Thank you.

Hi,

As a UK tax resident you are liable on your worldwide income and need to declare the income from Switerland. You then claim Foreign Tax Credit Relief for the tax paid there which covers the UK tax due on this income so no additional liability is actually due.

Thank you.

Hi,

Tax liability in the UK is calculated using the arising basis. This means that you are taxable on the interest in the tax year it arises.

If you are unable to access your principle funds until maturity of the account, then the interest would be taxable on maturity. If you can access the principle funds at any time, then the interest would be taxable annually.

Thank you.

Hi,

The additional information guidance for SA101 advises, If you have gains from different, multiple policies, you must put the following information in box 19
on page TR 7 of your tax return: 

• details of each individual policy 
• the amount of gain for each policy 
• the number of years you’ve held the policy 
• the tax paid on each gain 

If your multiple policies had tax taken off, add them together and put the total amount of gain in box 4. If your multiple policies did not have tax taken off, put the total amount of gain in box 6. Do not put any figures in box 5 or box 7. You can see guidance here:

Additional information notes

Thank you.

Hi,

The 'Tax Domicile Certificate', known as a 'Tax Residency Certificate' is now provided by the Federal Tax Authority and not the Ministry of Finance. It will not be stamped or signed.  

Please send HMRC your 'Tax Domicile Certificate', together with your fully completed double taxation individual form to:

H M Revenue and Customs
Self Assessment
BX9 1AS

Thank you.