HMRC Admin 20 Response
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RE: Tax on employee shares
Hi Wojciech,
We cannot comment on any form of calculation/example or scenario, whether fact or fiction.
We can only point you the direction of the guidance, so that you can review the guidance and to allow you to make an informed decision.
If, after that you still need advice, you need to employ the services of a financial adviser.
Thank you. -
RE: Expenses for multiple businesses
Hi,
You can only claim 1 trading allowance.
You will report the 2 self employments on your tax return as 2 different sources.
Thank you. -
RE: Overseas capital redemption bond
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RE: Gifting Property
Hi MAP,
If the house is not your main residence then yes capital gains will be due on you.
Thank you. -
RE: Tax implications of foreign income received after moving to the UK
Hi Gregory,
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 will help you work out if split year treatment applies.
Guidance on remittance basis is at Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. -
RE: claim 20% mortgage loan interest relief for finance cost of property
Hi,
You can claim relief, see - Work out your rental income when you let property Allowable expenses
Thank you. -
RE: Contractor and 40%/2 year rule
Hi,
When contractors return to a workplace they have previously attended, such situations are governed by the so-called “40% rule”.
If you look back over the previous 24 months and spent 40% or more time at your current workplace, you cannot claim travel expenses.
Thank you. -
RE: Banking Interest for Non-UK Tax Resident
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RE: Non-resident, working remotely: PAYE and other tax obligations
Hi marlene,
If you are tax resident in South Africa, you can have a NT code against your PAYE employment income.
The rental income remains liable in the UK and you would need to complete a tax return as a non resident landlord.
Thank you. -
RE: Certificate of Residence
Hi Rafid,
You will need the certificate to start from the date you became resident there.
Thank you.