HMRC Admin 20 Response
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RE: Net adjusted income pension question
Hi James,
If it is deducted before tax then you would use your P60 figure as your starting point as its already been deducted to get to that figure.
Thank you. -
RE: Reporting income from a deeply discounted security in a foreign account
Hi Jetlyn,
‘Deeply Discounted Securities’ (DDS) are government securities, commercial bonds and loan stock, where the amount paid on redemption is higher than the price at which they were issued. The difference is the discount and represents the whole or part of the reward to the holder of the security for the use of the money borrowed by the security issuer.
Where certain conditions apply, the tax rules ensure that gains on such securities are taxed as income, rather than as capital gains.
SAIM3010 - Deeply discounted securities: introduction).
If you invest in deeply discounted securities, put the difference between what you paid for the bond and what you redeem or sell it for in box 3 of SA101 (page Ai1).
Additional information Tax year 6 April 2022 to 5 April 2023 (2022–23)
Additional information notes Tax year 6 April 2022 to 5 April 2023 (2022–23)
Thank you.
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RE: Online services
Hi sturghay,
All of the options for verification will be shown when you create the account.
Thank you. -
RE: question about "taxable foreign income"
Hi YY WONG,
Interest from an overseas bank account is treated as foreign interest, falls under the term foreign income and is declared on SA106, along with any tax deducted.
It is added to UK bank interest and the rules governing the taxation of interest applies to the total amount of interest.
See: Tax on savings interest
Thank you. -
RE: State Pension Contributions Living Abroad
Hi john woodall,
Our timescales for processing can go up and down depending on current workloads.
However – you can check our page ‘Check when you can expect a reply from HMRC for the most up to date timescales.
Once your application has been reviewed – we will write to you.
Thank you
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RE: NI contributions
Hi MARIO ANTUNES,
I’m not quite sure what you are requesting from us, hopefully some of this information may assist you.
If you would like to know how to make voluntary contributions when living outside of the UK – you can find more information here -
Voluntary National Insurance Eligibility.
You will normally need to complete the form CF83.
If you need to confirm your National Insurance Number you will find more information here - Find a lost National Insurance number)
Thank you. -
RE: US government bond
Hi Mable Lau,
You can use any of the rates referred to at - Exchange rates from HMRC in CSV and XML format within the correct UK tax year.
Thank you. -
RE: P85 Question
Hi Psy Duck,
In answer to your questions
1) That would include work not carried out in the UK.
2) This would be for a non-UK employment.
Thank you. -
RE: Stock options and RSUs, UK employer
Hi StockOptions821485,
If you know for sure an error has been made, you should ask your employer to resubmit the correct information to HMRC so that your details then match.
Yes you can use any of the rates referred to on your link within the correct tax year.
Thank you. -
RE: Loss carry back claim
Hi Michael Thexton,
It wont appear in the calculation as you are carrying it back.
Once you submit the return, it will put a credit on your record in respect of the loss in order to give you the refund.
Thank you.