HMRC Admin 20 Response

Hi Andy Eills,

As you are going to reclaim the tax back from the IRS, you would show the gross taxable amount, with no foreign tax deducted, as once you receive the tax back, there is no tax to be relieved.  You can only claim tax releif if you paid tax in the other country.


Thank you,
 

Hi Peter Pedlow,

Your income would be taxable in the UK.  
If you have paid tax in Ireland, you would be entitled to claim foreign tax credit relief, so that you are not taxed twice on the same income.

Thank you.

Hi Help C,

I regret that we cannot comment on scenarios.  
You would need to submit your enquiry in writing to
HM Revenue and Customs
BX9 1AS.

Thank you.

Hi Tomoko,

There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here Tax on savings interest and Tax on dividends.

Thank you.

Hi MMYC,

You will need to check with the company making the distributing, whether it is dividend, as we are unable to confirm this.  
We cannot comment on your calculation.  You will need to submit your calculation in writing to
HM Revenue and customs
BX9 1AS.  
You will need to review the guidance at RDR3 and take the tests to confirm your residence status.  
If you are treated as resident and qualify for split year treatmentm, then you would only need to report any gain from their disposal. 
RDR3 Statutory Residence Test

Thank you.
 

Hi DLEK,

The self assessment criteria tool at Check if you need to send a Self Assessment tax return, will help you work out if you need to complete a self assessment tax return.  
If you do need to complete a tax return, you either submit the whole tax return online or the whole tax return on paper.  
If you need to complete the residence page and you want to submit the tax return online, then you need to purchase a 3rd party commercial tax return. a list of suppliers can be found at Self Assessment commercial software suppliers.  
Paper tax returns can be found at Self Assessment tax return forms.

Thank you.


 

Hi csl77,

1. No. it is dividends only. Foreign interest has a separate category.
2. Other taxable income can be any other income, UK or foreign.                                                                                                                                                                                                        further guidance is available at Check if you need to send a Self Assessment tax return

Thank you.

 

Hi damian24,

Please refer to guidance at Remittance basis 2023 (HS264)

Thank you.
 

Hi James1010101010101,

Please refer to guidance at Tax on your UK income if you live abroad

Thank you.

 

Hi Jake Perrett,

Traditional accounting practice, uses the arising basis, so the income would be taxable in the tax year that you invoice your client.
The cash basis method is applied to money coming and going out, so the amount paid in 22/23, would be taxed in 22/23 and the amount paid in 23/24 taxed in 23/24.

Thank you.