HMRC Admin 20 Response

Hi wai2000,
If the interest is over £10,000 a return is required for the children,. for trusts, please refer to guidance at:-
Trusts and taxes or telehone the trust helpline on 0300 123 1072.
Thank you.

Hi Hasan Hasan,
I am sorry that the cheque was reissued to your wife if she'd supplied us with your details as her nominee.
If your wife can contact us by webchat or phone via Income Tax: general enquiries we can reissue the cheque with the correct information. 
Thank you.

Hi Andrew Kerslake,
Since 6 April 2024, yes it is.
Thank you.

Hi ste western,
It will be at the rate you are liable for in 24/25.
Thank you.

 

Hi John Smith,
As this was income, earned in tax years you were not resident in the UK, then when you bring it to the UK, it is considered capital and will not be taxable.  
Any interest or dividends, the capital generate, will be taxable and should be declared.
Thank you.

Hi Manuel Carrasco,
Please have a look at the guidance at RDR3: Statutory Residence Test (SRT) and take the residence tests.  
If you are considered tax resident in the UK for the whole tax year, you should then look at split year treatment.  
If split year treatment does not apply, then you should declare your USA earnings, as they will be taxable in the UK.  
You would need to determine if you will be taxable in the USA on your income there (we cannot advise you about this).  
If you are taxable in the USA on your income there and in the UK, you would claim up to 100% foreign tax credit relief, so that you do not pay the same tax twice.
Thank you.

Hi sbradford51,
It depends on the type - please refer to Capital Gains Manual CG15800 - Losses: allowable losses
Thank you.

Hi Chun Ho Chan,
Please refer to Capital allowances when you sell an asset
Thank you.

Hi Anna Evans,
No, as under £1000.
Thank you.

Hi Kim Mynard,
You would need to check this with the trust office on 0300 123 1072.
Thank you.