HMRC Admin 20 Response

Hi Bath_1980,

Please see Claim back a flexibly accessed pension overpayment

Thank you.

Hi San33 YU,

Yes.  
There is no minimum limit for registering foreign income.  
You can register for self assessment at Register for Self Assessment.

Thank you.
 

Hi taxnoob,

No. As the income has already been taxed then HMRC have no interest in how the income is then distributed/spent.

Thank you.

Hi GG-5757,

Tax-Free Childcare (TFC) income requirements are based on expected earnings, and (at the upper end of the income scale) to be eligible for TFC, you must not expect your adjusted net income to exceed £100,000 in the tax year. If you believe at the time of your application your income will exceed the £100,000 limit in the current tax year, you would not be eligible to apply. A customer is required to take reasonable care when determining their income expectations. They should consider their income relative to that received in the previous year and take an objective view of income that they are likely to receive for the remainder of the tax year, so that they can be satisfied it is likely to be under the maximum limit when they make their in-year TFC declarations.

Customers’ income is reviewed at application stage to see if it exceeds this limit, and at each subsequent 3 month reconfirmation to ensure they continue to meet TFC income requirements, by confirming they are not expecting their adjusted net income will exceed £100,000 come the end of the tax year. TFC will contact customers if further details are required to clarify they do reasonably expect to earn less than this upper income limit. A customer would be expected to be able to explain, when requested, why they believed they would not exceed the maximum limit each time they reconfirm their eligibility.  

Customers whose income fluctuates in-year are required to consider - each time they reconfirm - whether the earnings they might receive over the next eligibility period (usually 3 months) would reasonably lead them to exceed the upper income limit by the end of the tax year. These considerations should take account of whatever information the customer has to hand (e.g. past year comparisons, any indications from their employer, etc) so that they come to a reasonable conclusion. Where they think their next quarter’s income would lead them to exceed the upper income limit, they should not reconfirm for TFC. But, where customers believe their income might still not exceed £100,000 by the end of the year, they can reconfirm for TFC (and review the situation again at their next reconfirmation).

Customers whose income is seen to have exceeded £100,000 within the tax year, will not be eligible to reconfirm for any remaining quarters over the year – so their next reconfirmation will be rejected, and access to TFC top-up payments will cease. Ordinarily customers would not be required to repay any top-up payments they have already unless – based on later compliance checks - it was found the information they had previously provided was false or unreasonable.

Thank you.


 

Hi Jchun,

The tax paid in Hong Kong is not a rental expense but you can claim foreing tax credit relief.
You can claim the mortgage interest as a relief.
This income should be declared on the SA106 foreign income page - Tax on foreign income

Thank you.

 

Hi Elaine,

If claiming split year treatment, you need to register for self assessment and complete the residence section of the return.
If you qualify for split year then you only report any foreign income for the UK part of the year RDRM12000 - Residence: The SRT: Split year treatment:.
If you do not qualify then you will need to report all your foreign income to the UK Tax on foreign income.  
The guidance at RDRM12150 - Residence: The SRT: Split year treatment: Case 4: Starting to have a home in the UK only will help you work out if split year treatment applies. 

Thank you.

 

 
 

Hi Konstantin,

This is foreign income and meets the criteria for completing a self assessment tax return.  
You would need to register for self assessment, if you have never completed a tax return before.  
You can register for self assessment at Register for Self Assessment.
In the self assessment tax return, you will need to declare your world-wide income.  
Your foreign interest would be declared in SA106 (foreign) where you can claim a credit for the overseas tax paid, along with any other appropriate
supplementary pages, as well as SA100, which is the tax return.
You can download and print off the tax return and supplementary pages at Self Assessment tax return forms.  
If you register for personal tax account (PTA) you can complete your tax return online.  Personal tax account: sign in or set up.

Thank you.

Hi Liam Hodgson,

It will be up to you to make the decision whether you were gambling or not.
Have a look at BIM56900 - Financial traders - instruments and shares: contracts for differences and spread betting which talks about the contracts For Differences (CFD's)
and then states to consider if the income is not liable to  income tax.  
HMRC would need to examine the contract to see if it is a gambling or wagering one.
Further advice can bf found at BIM22016 - Meaning of trade: exceptions and alternatives: betting and gambling - what is a bet? for the definition which again constitutes a wagering contract.

Thank you.

 

Hi Jacques Leclerc,

Please refer to Taxes Management Act: 1970. Taxes Management Act 1970.
Should this fail to answer your query, please telephone the Trust and Estates office on 0300 123 1072. 

Thank you.

Hi SAS98KGJ Jayawardena,

There are two online capital gains services.  
One for UK residential property and land (PPDCGT), which should be reported and the tax paid within 60 days and the other, real time transaction capital gains tax service (RTTCGT), which covers all other types of UK capital gains.  
If you do not already have a government gateway user ID and passord, you can do so at HMRC online services: sign in or set up an account.  
Using the goverment gateway user ID and password, you can create a RTTCGT account at Report and pay your Capital Gains Tax.  
For gains arising in the tax year 6 April 22 to 5 April 23, you have until 31 December 23 to report the gains using the realtime transaction service.  
If you do not do this, then you will be required to register for self assessment at Report and pay your Capital Gains Tax, to report the gains by 31 January 2024.  
The capital gains tax should be paid by 31 January 2024.

Thank you.