HMRC Admin 20 Response

Hi Tom Hart,

Article 17(2) with reference to Article 1 (4) if you receive a Lump Sum Pension and you will not receive any further payments from that pension scheme
then this will be classed as a one off lump sum payment and will be taxable only in the country that the payment arises.            
If paid from a USA company then remains taxable in the USA even if you are a resident of the UK and vice versa. 
This type of pension should be noted as additional informatoin on your return only and refer to the specific Double Taxation Section.                                                                                            If you receive regular payments, these need to be declared on your tax return as foreign income, if tax has been deducted in the USA, you can claim this as foreign tax credit relief.

Thank you. 
                
 

Hi Kerma,

If non resident, you only declare any income you remit to the UK - see guidance at Remittance basis 2023 (HS264)
and also the notes on how to complete the SA109 at - Residence, remittance basis etc notes Tax year 6 April 2022 to 5 April 2023 (2022–23)

Thank you.

Hi Dafydd,

You are now too late to claim for 2018/19 as this would need to be been claimed by 05/04/23.
For 19/20 and 20/21 you will need to write in with details of the payments made and state that you are claiming overpayment relief. ensure the letter is signed.
This should be sent to
HMRC,
PAYE & Self Assessment
BX9 1AS

Thank you.

Hi Sixto Olson,

Please have a look at IFM13510, as this guidance refers to a reporting fund that has not had reporting fund status at a time you held an interest.
Disposals should be reported under a single gain.  IFM13510 - Offshore Funds: investors in non-reporting funds: computation of offshore income gain: introduction

Thank you.
 

Hi mkn,

You will show it only as self employed income if no foreign tax has been deducted.
If foreign tax has been deducted, you will show it on the foreign page also and claim foreign tax credit relief (this doesnt double up the income).

Thank you.

Hi iliyan_velikov Velikov,

You will need to close one of them as you can only have 1 and HMRC will contact you in due course.

Thank you. 

Hi

If you have submitted the return and the amount is higher than you are expecting, please contact us using 'Ask HMRC Online' and request to speak with an adviser.
You will be put in the webchat queue and we can review the return,
Self Assessment: general enquiries

Thank you.

Hi Janina Davies,

There is no confirmation email sent.
If you check your account you can view the status of the repayment.

Thank you.

Hi kms,

This is foreign income - SAIM3070 - Deeply discounted securities: taxation: profit on disposal

Thank you.

Hi ak0310,

The actual capital that you transfer will not be taxable but any interest or dividends that this then generates will need to be declared as taxable income.

Thank you.