HMRC Admin 20 Response

Hi YL Edison,

That is for you to determine based on the guidance available -Residence, Domicile and Remittance Basis Manual

Thank you.

Hi C O

As the income refers to you and not the client, then it is not the client who reports anything.
Please refer to Tax on your UK income if you live abroad

Thank you.
 

Hi Tim Cosway,

You can attach a PDF document to confirm.

Thank you.

Hi Jane

You need to report the sale in the UK and claim foreign tax credit only if foreign tax has been paid.
If the sale has only just happened, you do not need to report this until you are submitting your 23/24 tax return by which time you should have paid
any foreign tax that is applicable to then allow you to claim the relief here.

Thank you.

Hi James F,

Yes, to ensure your tax code is correct for the remainder of the year.

Thank you.

 

Hi KF@2023,

The whole return must be submitted together whether that be online or by paper.
Using 3rd party software to submit online still has the deadline of 31/01/24.
Paper returns have the deadline of 31/10/23.

Thank you.

 

Hi KF@2023,

HMRC cannot advise you on this as your residency is for you to determine.
The guidance tells you which one takes priority.

Thank you.

Hi James Eddie,

No, you must work out the gain yourself.

Thank you.

Hi AF24,

If the owner is UK tax resident, they need to declare the sale as a capital gain and can claim relief for the US tax paid to reduce any UK tax due.

Thank you.