Skip to main content

This is a new service – your feedback will help us to improve it.

  • Re: CGT on a joint property interest

    Hi,

    If the property is in joint names then the Capital Gains would need to be declared 50:50. Rental income can be split based on who receives the income but Capital Gains is based on the beneficial owner. Further guidance can be found here:
    CG10720

    Thank you.
  • Re: UK Tax on Australian Superannuation

    Hi R C,

    Suparannuations are classed as pensions for UK purposes and would therefore be taxed as such.

    If the tax amount of 65% is based on a visa then you may wish to speak to the home office regarding this.

    In terms of how the funds are paid you would need to speak to the fund holders.

    Our pension scheme services also deal with pension administrations so they  may be able to help further:
    Pension schemes 

    Thank you.
  • Re: UK Tax on Australian Superannuation

    Hi JJMurph,

    Superannuations are treated as pension income. If you are a UK tax resident then this will need to be reported through a Self Assessment tax return. You can also show the tax paid on this and we then give foreign tax credit releif so that you are not taxed twice on the same income. 

    Thank you.
  • Re: DDP excluding import VAT

    Hi,

    Import VAT can be reclaimed as input tax subject to normal rules. You can usually reclaim the VAT paid on goods and services purchased for use in your business. If a purchase is also for personal or private use, you can only reclaim the business proportion of the VAT.

    Please refer to sections 10 to 13 of VAT Notice 700 ‘VAT guide’ for further information’:
    VAT guide (VAT Notice 700)

    Please also refer to Revenue and Customs Brief 15 (2020) ‘VAT – Conclusion of review of Import VAT deducted as input tax by non-owners’ for guidance on the correct treatment of import VAT paid by a taxable person who is not the owner of the relevant goods:
    Revenue and Customs Brief 15 (2020): VAT – Conclusion of review of Import VAT deducted as input tax by non-owners

    If the goods are located in the UK when supplied to your customer then you may need to register and account for VAT on the sale. Please refer to VAT Notice 700/1 ‘Who should register for VAT’ for further information:
    Who should register for VAT (VAT Notice 700/1)

    In particular, section 9 covers non-established taxable persons (NETP), which is any person who is not normally resident in the UK, does not have a UK establishment and, in the case of a company, is not incorporated in the UK. Paragraph 9.3 states that if you are an NETP and make any taxable supplies in the UK, you must register for VAT in the UK and account for UK VAT to HMRC.

    Thank you.
     
  • Re: Cryptoassets stable coins TGBP

    Hi,

    This is an area which is currently under discussion, further guidance will be in due course.

    In the meantime please see cryptocurrency guidance here
    Cryptoassets Manual

    Thank you.
  • Re: HMRC cheque for tax refund

    Hi,

    That is the correct address.

    Thank you.
  • Re: BNO

    Hi,

    We need to look at the Double Taxation agreement with each country separately. UK/Singapore agreement - please see article 18 which states that the pension is taxable in the country the recipient is resident.

    UK/Singapore Double Taxation Agreement 

    Thank you.
  • Re: Money transfer

    Hi SHina,

    There are no UK income tax implications but you will neEd to check with the bank for any charges.

    Thank you. 

     
  • Re: UK Belgium Tax treaty

    Hi Brch,

    HRMC will take this further if there is a discrepancy with the two countries interpretation of the treaty.

    You have done the right thing to write to us and this will be dealt with as soon as possilble. At the moment it is taking up to 8 weeks to process post. 

    Thank you.
  • Re: BNO

    Hi,

    As per Article 17 of the tax treaty between UK/Hong Kong, any pension payment arising in Hong Kong, paid to a UK resident, is taxable only in Hong Kong. This income will therefore not need to be reported to the UK. 

    UK/HONG KONG DOUBLE TAXATION AGREEMENT AND PROTOCOL

    Thank you