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  • RE: Capital Gain Tax Calculation in Stocks Selling

    Hello, Thanks for your reply. I sold shares of THREE different companies at the same time. One of them with capital gain but the other two with capital losses. There was a net capital loss in selling the shares of these THREE companies. Do I need to report all these transactions even though I don't need to pay capital gain tax? Pls comment. Thank you.
  • Capital Gain Tax Calculation in Stocks Selling

    Hello, I have some stocks purchased in overseas that was before I moved to UK. If I sell these stocks now, which stock price should be used in calculating the capital gain? Should it be the purchased price or the market price at the time I moved to UK? Pls comment. Thank you.
  • Tax withheld from Interest Earned in Australia

    Hello, I have saving interest earned in Australia. There is 10% withholding tax deducted before the bank credit the interest to my account For example: Original interest amount = £100 Tax withheld by the bank and pay direct to Australia Tax Office = £10 Interest payment credited to my bank account = £90 Then, how do I fill out the following sections in SA106 form? Amount of income arising or received before any tax taken off - Should I enter £90? Foreign tax taken off or paid - Should I enter £0? Pls comment. Thank you.
  • Self-Assessment

    Hello, I need to submit the following self-assessment forms: SA100 SA106 SA108 SA109 Can I submit all of these forms online without using commercial software? If I don't want to pay for the commercial software, is paper forms submission is the only one option? Pls comment. Thank you.
  • RE: Exchange rate for Foreign Income

    Hello, Thanks for your information. When and what scenario the average exchange rate to be used? Pls comment. Thanks again!
  • Exchange rate for Foreign Income

    Hello, I would like to know which exchange rate I should use for year 2021/2022 self-assessment. I see I can use the average rate for the year but I find two set of average exchange rates in HRMC website: 1. Average for the year to 31 December 2021 2. Average for the year to 31 March 2022 (not set) May I use "Average for the year to 31 December 2021" to convert ALL my foreign income to GBP for the whole fiscal year? Or, should I use both exchange rate sets? (Use "31 December 2021" for income from April to December 2021 and "31 March 2022" for income from January to March 2022) Pls help to clarify. Thank you.
  • Self Assessment Forms

    Hello, I need so submit SA100, SA106 and SA109 form. I see SA109 form cannot be submitted online and I don't to pay for a third party software. If I submit SA100 form online, can I submit the paper form SA106 and SA109 by post? Or, I must submit all paper forms together by post? Pls advise. Thank you.
  • Mortgage linked Account (Offset Mortgage)

    Hello. I have a mortgage linked account in Hong Kong. The purpose of this account is to offset some of the mortgage interest and its nature is similar to offset mortgage in UK. Is the interest I earned in this mortgage linked account subjected to Income tax? Pls comment. Thanks.
  • Tax Rate for Income from both Rental and Dividend

    Hello, I know basic tax rate on rental income and dividend income is 20% and 7.5% respectively. If I have total income of £23,570, rental income and dividend income is $8,000 and £15,570 respectively. Then, taxable income will be £23,570- £12,570 (personal allowance) = £11,000. Which tax rate will be applied on £11,000? Is it 20% or 7.5%? Pls comment. Thank you.
  • RE: Income tax

    Dear HMRC Admin, Thanks for your comments. My question is: I become a tax resident. Do I need to submit a self assessment tax return if my foreign income is less than personal tax allowance? Pls advise. Thanks.