Sunsun Hung
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RE: Split year treatment
I have checked that I fulfill the split year requirement. I arrived at UK on 1/1/2023 and I have the following enquiries: (1) I sold two flats BEFORE arriving in UK . One is self-living and another is for renting out. Both transactions have been completed before I arrive in UK. Do I need to report these two transactions for the split year? If yes, may I know which form should I fill in? (2) I have started a 1-year fixed rate saving deposit from 1/8/2022 to 31/7/2023. The interest will be paid on 31/7/2023. I understand I need to report the interest in the tax year when I receive the interest. So, I think I do not need to report it this year. Am I right? I will report the interest (say GBP10000) I have earned in NEXT tax year as I will receive the interest on 31/7/2023. But I am not sure whether I can only report the interest which belongs to the part after I arrive at UK on 1/1/2023 (i.e. GBP 10000 X 7 months /12 months)? Many thanks -
RE: Rent received from overseas property
Thank you for your information. For the section 3, do you mean the self-assessment form? Or you mean SA106? Besides, I am retired and no income from work. I only have saving interest in UK and rental income from overseas. For calculating the tax for saving interest, does my overseas rental income (GBP 4000) affect my allowance for earning interest? If possible, may I know the formula for calculating the interest rate tax (if I have GBP4000 overseas income) ? Thanks a lot -
Rent received from overseas property
I would like to know (i) does the rent from a property in Japan can deduct its management fee and the agent commission (the agent charges me monthly) (ii) which form should I use for reporting the overseas property income? (ii) the Japanese agent transferred money to me in Hong Kong via my bank account in Hong Kong. Do I need to submit my bank account statement for receiving such rent to you? Any document required for reporting the overseas property income (I have a recipt in Chinese too)? Many thanks!