Curious Cat

Information on HMRC website on Non Dom is vague and it takes a lot of time to go through all the information to understand what we as accountants have to do. Does a Non Dom who has been here in the UK for just over 3 years need to declare his overseas income on the tax return if it is more than £2,000 even though he does not have to pay tax on this? The income is not brought to the UK I appreciate the Non Dom rules may change sooner rather than later but after 7 years is the £30,000 retainer compulsory even if income is not brought to the UK?

As a non registered individual you cannot charge or claim VAT. Your question is a bit vague. If you are selling a item for £120,00 that is the income you received and the income you declare on your tax return. Are you saying you purchased some thing for £100 and paid £120 including VAT. If you then sell the item for £120 then you made a loss as you can't claim the £20 but you still have to report £120 as income.

If two people own two houses one they live in and one they rent out decide decide to separate and remove their name form one property so that they own and live one house each. Will there be CGT payable if the buy to let property becomes a residential, Is no gain no loss applicable if the two people are not married. See below: 2 people own 2 houses, one residential and one buy to let both coming off the deeds of one so each will own and live in one house each. but, will there be capital gains tax to pay on the current buy to let that is to become a residential ?

I read the NRE account holders can claim 15% tax relief in interest earned in India even if no tax was actually paid there. Is there a time limit on how far you can go back. Another question If a basic rate taxpayer receives £1,000 interest in his NRE account on which he has not paid any tax but claims the 15% tax relief here will he get a refund of £150?