HMRC Admin 20 Response
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RE: Overseas Bank Transfer HELP
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RE: Hargreaves Landsdown sale
Hi,
24/25 as the date of sale is March 2025.
Thank you. -
RE: Santander Dividend Re-investment Plan (DRIP)
Hi,
As this is your choice then yes you still need to declare the dividend.
Thank you. -
RE: Mixed business including rent
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RE: Non UK resident for 2024/2025
Hi JelVelo25,
You would still include the HS300 as additional income.
Thank you. -
RE: US pension and UK Tax
Hi ste fen,
There is no legislative definition of a Lump Sum but HMRC regards these as being any non-periodic payment of a pension - That is, any non-regular payment that decreases the value of the remaining pension pot after such payment is made.
For example, the first (IRA) withdrawal is taken in year 1, the next withdrawal was made in year 5, and another withdrawal in year 7; such payments will not be regarded as periodic and will be treated as Lump Sum’s under the UK/USA DTA.
Whereas any amount withdrawn in set, periodic, frequent intervals (e.g. weekly, monthly, annually etc.) would not be a Lump Sum, but rather periodic payments.
Thank you. -
RE: Reporting CGT on Overseas Property sale
Hi Frenchenglish Taylor,
There is no capial gains tax liability on the transfer of assets between spouses or civil partners, so your aunt would acquire each 50% share of a property at the
value it was acquired for in 1988 and 2024.
This would mean that the acquistion cost of 100% of each property is the value it was acquired for.
Add the three together and you have the acquisition cost, which can be deducted from the single disposal value.
Thank you. -
RE: Beneficiary of UK Pension as a Non-UK Resident
Hi,
The changes proposed for 6 April 2028 only relate to inheritance tax and pensions.
Income tax rules are not affected.
Please have a look at PTM072120 - Death benefits: types of pension: dependants' scheme pension: limit where member died on or after reaching age 75.
Thank you. -
RE: Gift or loan
Hi,
This would be a loan.
If you are charging interest on the loan, you would be taxable on the interest.
For a more detailed answer, you should seek professional advice.
Thank you. -
RE: Working remotely for EU company in uk
Hi,
If you remain resident in the UK while working in the German sector (eg. remote working) you would still be taxable in the UK and not Germany.
If you continue to be paid by the UK employer, they will continue to deduct tax as normal.
If you were being employed by the German section of your employer, you would need to request a certificate of residence
How to apply for a certificate of residence to claim tax relief abroad to present to the German tax authorities to ensure they do not deduct any tax.
Thank you.
