HMRC Admin 18 Response
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Re: Interest Savings for a couple
Hi,
You would need to discuss this with the bank as they would asdvise on the legallity of the transfer. The account with interst in it would be taxed.
Thank you.
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Re: Remote worker NIN contributions
Hi,
Your first step would be to write to HMRC for a Liability decision. The address to write to is:
PT Operations North East England
International Caseworker Department
HM Revenue and Customs,
BX9 1AN
Please provide the following information in your letter:
• your full name
• your National Insurance Number
• your date of birth
• the date you plan on leaving the UK
• your most recent UK address
• your address abroad
• the type of work you do
• your company name and address – UK and abroad if applicable
• where your contract is held
• how often you work in the UK – if applicable
• your normal working pattern (the days, weeks or months you regularly work)
You can request a liability decision as soon as you have all of the relevant information. Please note the current timescale for the area who will process your application is 47 weeks.
Thank you. -
Re: Gifted shares in the 90s I have sold them but do not have the trade confirmations
Hi,
You can use the price of the shares on your statement, to work out the value of the shares at the time they were gifted to you. This can then be used to work out if there is a capital gain, by
deducting the Allowable costs (including purchase price) from the Disposal proceeds. If thre is no capital gains tax to pay, then there is nothing to report to HMRC. There is a calculator at:
Tax when you sell shares.
If there is a capital gains tax liability, you can report and pay the capital gains at:
Report and pay your Capital Gains Tax,
before 31 December or in a self assessment tax return after that date.
Thank you. -
Re:Tax on interest on long term fixed rate bond
Hi,
The guidance was first published on 19/3/2016. If you have declared income when the rules state you shouldn't, you can ask for an amendment. As we can only go back 4 years, 19/20 is the
first year that you can have reviewed. Maturity dates is between you and NS&I or any other provider that you have the bonds with and again any interest on statements is for you to discuss
with the provider to give you a breakdown. As you are now aware of the situation, there would be no need to declare annually if you do not meet the criteria so would not be paying the tax
twice and the interest would be correctly declared and taxed when it should be.
Thank you.
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double taxation on pension lump sum. Living in the USA
Hi.
This type of post is not scanned onto our system and only noted on your record when it is worked. This is normally within 10 working days of receipt. You would need to telephone and the
number is provided in the link below:
Non-UK residents: Income Tax and Capital Gains
to progress chase this.
Thank you. -
Self assessment about SA102 and SA109
Hi,
On the basis of the info provided, you should register for Self Assessment (on the grounds that you receive foreign interest) and apply for Split Year treatment. The UK part of the year would begin on the date you arrived in the UK. When completing your Self Assessment tax return, you should only declare income received between the date of your arrival and 5 April 2023. Any income earned/received before you arrived in the UK does not have to be declared. See link below:
Tax on foreign income
Thank you. -
Pay in arrears
Hi,
Guidance for employers re: arrears of pay is provided at EIM02530:
Employment Income Manual ,
From the perspective of an employee who receives arreas of pay, the arrears are treated as received (and therefore taxable) in the year in which the individual became entitled to the payment, rather than when the payment was actually made. Please refer to the guidance at EIM42290:
Employment Income Manual
Thank you.
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Deed of gift: Bond Transfer and Income Tax Query
Hi,
Income tax would be chargeable on the individual who receives (or has the right to receive) any income arising from a bond. So, on the basis of the information provided, your mother will in future be responsible for reporting any income arising from the bond.
Thank you. -
Re: BNO Visa payment
Hi,
This Forum does not deal with UK Visa’s or UK Passport application. So unable to answer your question.
Thank you.
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Re: Gifting / Taper relief
Hi,
This Forum does not deal with Inheritance Tax, hence cannot respond to your question other then referring you to Inheritance Tax Team for which link has already been provided to you in my earlier response.
Thank you.
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