HMRC Admin 20 Response

Hi Carnoustie68,
Article 17 of the UK/Australia DTA states
"ARTICLE 17 Pensions and annuities.
1 Pensions (including government pensions) and annuities paid to a resident of a Contracting State shall be taxable only in that State. 
2 The term “annuity” means a stated sum payable periodically to an individual at stated times during life or during a specified or ascertinable period of time under an obligation to make the payments in return for adequate and full consideration in money or money’s worth.". 
Paragraph 2 specifies payments made 'periodially', qualify for relief. 
Lump sum payments are not mentioned in any way, therefor, they do not qualify for double taxation relief and so the lump sum is taxable in the United Kingdom. 
Thank you.
 

Hi Luca LOMBARDI,
It's not quite clear from the first couple of lines whether you will be disposing of another property in this year as well as the one that you are querying.
I will just concentrate on the property that is queried. We haven't got all the relevant facts,  and  it's for you to self-assess correctly. What we can say is that how this is treated will depend on whether you actually had beneficial ownership of the property and was ordered by the court to hand it back or if in fact you never had beneficial ownership at all and the contract was simply voided (the exact reasons how this happened aren't stated in the query).
If you didn't ever have beneficial ownership of the asset (which may be the case here) then any incidental costs of acquisition incurred would not be allowable, as per CG15250 'The expenditure must have been incurred wholly and exclusively for the purposes of acquisition or disposal of the asset'. And if there wasn't any asset actually acquired then it would in effect be abortive expenditure that is not allowable expenditure for CG purposes.
If on the other hand you did have beneficial ownership and so it was classed as an acquisition and then a disposal (for the same amount) then any incidental costs of acquisition or disposal, as per the exhaustive list at CG15250/60 may be allowable.
However these allowable costs would not include any costs incurred to preserve or defend title to the asset, where that case was lost. 
It will be for you to determine (based on the facts of the case) if you actually had beneficial ownership or not (we would only look at this if it was part of an enquiry).
CG70230 has some information on this but they may wish to seek professional help if they need further help with this.  
Thank you.

Hi Onceoption,
The interest earned does not count as a deposit so is not part of the £20k allowance.
Thank you.

Hi Ioannis Karydis,
Your children will be covered under your National Insurance records and the Greek authorities should use your details for the insurance. 
Thank you.

Hi Graham Lees,
If your wise account is a bank account and supports the payment you can use that to make a payment to HMRC.
Alternatively, you can use an overseas account to make your payment, or you can send a payment by cheque.
Please see further information here - Pay voluntary Class 3 National Insurance 
Thank you.
 

Hi Luca Gasparini,
As the payment is from your employer, the income should be shown in the employment section if it is included in your P60.
You would then claim credit for the Tax in the foreign section under 'Employment, self-employment and other income which you paid foreign tax on'.
If it's not included in your P60, please include it in the box on the employment page for 'Tips and other payments not included on your P60'.
ERSM20193 advises that when RSUs payout at the market value on what is called "dividend equivalents" in either cash or shares, such payments will generally be taxed as earnings in the year they are received.  Employment Related Securities Manual ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents
Thank you.

Hi DavidCheung89,
No. You only report your share of a joint account.
Thank you.

Hi eme,
Yes it is £48,000 in order to take into account the tax relief.
Thank you.

Hi Dawid Ryszewski,
I am sorry your tax code has not yet been amended.
To submit a complaint online about HMRC you need to go toComplain about HMRC
Select complain online if you're an individual or a business.
To write the address is:-
PAYE & Self Assessment Complaints,
HM Revenue & Customs,
BX9 1AB.
If you have a dispute with your employer you will need to contact ACAS, Advisory Conciliation and Arbitration Service, www.acas.org.uk 0300 123 1100 Monday to Friday 8am to 6pm
Thank you.

Hi reuters1953,
The £2000 allowance is taken into account in the final calculation.  
The credit is restricted to the maximum of UK tax on the same source.
Further guidance on how to work out the credit is at:- Relief for foreign tax paid (Self Assessment helpsheet HS263)
Thank you.