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  • Stopping Self Assessment

    Dear Admin, I received a message from HMRC telling me that I don't have to send a tax return after the year ended 5 April 2022 unless my financial circumstances change or HMRC tells me to. Does it mean I should not submit self-assessment for 2022-23 if my total income and capital gains remain below my personal allowance?
  • RE: UK income definition

    Hi, thanks for getting back. As I am non-domiciled I will be liable to tax on my UK income only. This is why I need to know if my income and gains from UK securities via a foreign brokerage account still constitute UK income.
  • UK income definition

    I trade UK listed securities through my brokerage account in Hong Kong. Would the dividends and gains from these securities still be considered as UK income and gains? Many thanks for help.
  • The case of no UK income

    I am a retired person who moved to UK last year. I do not have any income in UK but do have overseas income and capital gains which I do not remit to UK. In this case is remittance basis automatically applied and I do not need to submit self assessment at all? Thanks.
  • Trader or Investor

    I am retired and trade regularly in various financial instruments including stocks, bonds and foreign exchange futures and options. I did about 100 trades per month under my own name via online broker platforms. My investment horizon combines both short-term and long-term with the holding period of my securities from a few days to a few years. Day trading is rare. While I consider myself as a private investor, I was wondering if HMRC would classify me as a trader or self-employed given my trading pattern. I understand this will decide whether my profits are to be reported as capital gains or income in my self assessment. Could you shed some light on this please?