HMRC Admin 20 Response

Hi soton123,

Please refer to RDR3 Statutory Residence Test

Thank you.

Hi Mariosantos1979 Rocha,

You will not pay tax on the actual capital but will need to declare any interest or dividends that it generates. 

Thank you.

Hi Kiwi Indian,

If your wife will solely be the owner of the property, then she will need to register for self assessment.  
If the property will be gifted jointly to you and your wife, you will both need to register for self assessment and declare the foreign income from property and the tax paid in New Zealand on the income from property.  
You can claim a foreign tax credit for up to the amount of tax paid in New Zealand, so that you are not taxed twice on the same income.

Thank you.

Hi AmySat07,

The payments from your Saudi Arabian client are included in your self employed turnover, so that they are taxed as part of your self employment gross turnonver.  
You would also complete SA106 and declare the foreign element of your gross turnover and the tax deducted.  
You can then claim a foreign tax credit relief for the withheld tax, so that you are not taxed twice on the same income.

Thank you.

Hi mkcchan,

Please refer to Exchange rates from HMRC in CSV and XML format

Thank you.

Hi ezhilebinezer,

If no foreign tax has been deducted you will just include this in with your self employment as normal.
If it has been deducted, you include it on the foreign page to claim the tax credit but still include it within the self employed income (this doesnt double up the income).

Thank you.

Hi Geek,

Please contact us on 0300 200 3200 to discuss this in more detail.

Thank you.

Hi Ramesh H,

The actual contributions are not taxable income as you are making these payments.
It is the actual receipt of the pension that is then taxable income.

Thank you.

Hi Tsanko,

Losses in the year and losses brough forward, are applied to the gain before annual exemplt allowance is applied.
Any remaining losses can then be carried forward.  
Have a look at the examples at CG21520 - Individuals: losses: Relief for losses: examples 1 to 5.  
It would be acceptable to enter an estimated figure, in the absence of an actual number.

Thank you.

Hi Joshua O'Sullivan,

You will need to review the guidance on residence (RDR3 Statutory Residence Test) and take the residence tests to determine your residence status and whether split year treatment applies.  If split year treatment applies, you would complete SA109 (to claim split year treatment) along with the rest of your tax return and you would not include your earnings in Ireland.  
If you are resident in the UK for the full tax year and split year treatment does not apply, you would declare your Irish income on SA102 and SA106, so that you can claim a foreign tax credit.

Thank you.