HMRC Admin 20 Response

Hi Safina Kausar,
The gain arising from the acquisition and disposal of assets, would be subject to capital gains tax once the annual exempt allowance is exceeded.  
Regular and frequent trading can be argued to be the profits of a trade, profession or vocation and be subject to income tax.  
This would be largely determined by the facts of the case.
Thank you.

Hi Marina405,
You will not pay tax on the transfer of the capital but any interest or dividends that this then generates is taxable income.
Thank you.

Hi Marcin,
The relief will be restricted to the maximum of any UK tax that is due on this income, as the first £2000 is tax free, you would only be liable on the £1000 (assuming no UK dividends) and as such relief would only be due on £1000.
Thank you.

Hi yurii conte,
The guidance below explains how to register as a sole trader in the UK.
Set up as a sole trader
Thank you.

Hi katie smith,
Yes, your share of the partnership profits form part of your total taxable income, and should be taken into account when calculating your adjusted net income.
Thank you.

Hi Jan Corsten,
HMRC does not hold information on how many dividends were re-invested.  
You would need to contact the fund directly for that informaiton.
Thank you

Hi YL Edison,
Bonds are generally treated as income and not capital gains.  
As they are foreign, it means you meet self assessment criteria and should declare the bonds in a self assessment tax return.  
Have a look at the guidance at SAIM2210 - Interest: specific inclusions: funding bonds for more information.  
You can register for self assessment at https://www.gov.uk/register-for-self-assessment and submit your tax return online if you obtain a personal government gateway user ID and password by setting up a personal tax account at HMRC online services: sign in or set up an account.
Thank you.

Hi BobbyC,
please refer to Peer to peer lending
Thank you.

 

Hi Ine
You need to leave it on the return, although a redundancy payment, it is classed as employment income so you need to say yes, you were an employee/director.
Thank you.

Hi jrowe17129 Rowe,
If you made the payment direct yourself and not through your employer, it will be under relief at source. if done via your salary, you need to check with your employer.
Thank you.