HMRC Admin 20 Response
-
RE: Foreign Pensions - Double Tax Agreements
Hi Jon Carter,
If referring to the point that you start paying higher rate tax. please refer to Income Tax rates and Personal Allowances
Thank you.
-
RE: Questions about filling the form SA100
Hi bonny,
Yes, if you meet the criteria for Self Assessment because you received foreign income after you arrived in the UK, and you wish to claim Split Year Treatment, you should also declare the Employment income (and any other income) you earned in the UK in 2022/23.
Links to relevant guidance (including completing your SA return online) are provided below.
Tax on foreign income
RDRM12030 - Residence: The SRT: Split year treatment: When will split year treatment apply
Thank you.
-
RE: After Self assessment registration
Hi Yoko,
If you don’t think you meet the criteria you can complete an onlinine criteria check to review. Check if you need to send a Self Assessment tax return
or you can contact HMRC to review Self Assessment: general enquiries
Thank you. -
RE: Big SA bill due to delays in reducing personal tax allowance and differences between PAYE/SA?
Hi Gary Francis,
1. When a tax code is issued to your employer there would also be a copy sent to yourself either by post or online so you can check the correct code is being operated by your employer.
2. When you submitted your 2022/23 tax return the balance due will be based on your 2022/23 earnings and tax code. If an underpamyent was due to be collected but was not this will be relfected in the calculation.
3. No you are not being hit twice/three times the claculation is based on your 2022/23 declaration.
4. No it is not possible to pay part of the balance then code the remainder if less than £3000. If the balance is £3000 or more we are unable to collect through the code and a direct payment is needed.
Thank you. -
RE: Sending money from abroad to UK account
Hi mvcg77 C,
As a UK resident, you have to declare both your overseas rental income and any Capital Gains arising from the sale of overseas property.
The transfer of funds from an overseas bank account to a UK account would however have no income tax implications, but any interest or dividends generated may be taxable. Tax on foreign income
Tax when you sell property
Tax on savings and investments: detailed information
Thank you. -
RE: Self Assessment Tax Return Error from 2020_21
Hi RachaelD Dando,
You can expect a reply by approximately 22/11/23.
Thank you.
-
RE:Reporting CGT on Overseas Property sale
Hi YYAL,
No you dont need to report the gain.
Thank you.
-
RE: Reporting CGT on Overseas Property sale
Hi David Male,
"Under the terms of Self Assessment, HMRC does not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal. None the less, HMRC does have an archive of exxhange rates, which you can use if you want to.
(Exchange rates from HMRC in CSV and XML format & Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009.)
There is a calculator at Tax when you sell your home that will help you work out if there is a capital gains liability in the UK.
You will need to use a just and reasonable exchange rate, to work out the acquisition value and costs and convert to pounds sterling, using an exchange rate at that time.
If this property was your main residence at any time, you may be entitled to claim private residence relief, have a look at HS283 Private Residence Relief (2023)
Any gains should be reported in a self assessment tax return on SA108 and if you paid capital gains tax in France, you should also declare on SA106, where you may be able to claim a foreign tax credit.
Thank you.
-
P85 Form - How to made amendments
-
RE: Tax on Pension
Hi Tina Wylde,
Yes any tax due will be deducted from your personal pension.
Thank you.