HMRC Admin 20 Response

Hi LL,

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 https://www.gov.uk/apply-tax-free-interest-on-savings and Tax on dividends).  
You do not need to provide documents for HMRC.  
We cannot confirm whether you will have any problems.

Thank you.

Hi Joglen,

There is no income tax liablity on transferring savings from Malta to the UK.

Thank you.

Hi winglam,

No.  
There is no need to report this pension on a self assessment tax return, as it is only taxable in Hong Kong.

Thank you.

Hi Arkturus,

Before you cash the second payble order, you should contact HMRC, to ensure this is not a mistake.
If you complete a self assessment tax return, you can webchat atSelf Assessment: general enquiries (out telephone lines are closed until 4 September).  
If you do not complete tax returns, you can phone the Pay as you earn helpline at 0300 200 3300, text relay 18001 0300 200 3300 or from overseas +44 13 5535 9022 (Monday to Friday: 8am to 6pm Closed on Saturdays, Sundays and Bank Holidays).

Thank you.

Hi Bobby9,

This guidance was given as the estate was valued for IHT purposes.
Please refer to additional guidance  at
CG16251 - Assets: checking valuations: value ascertained for probate
and
CG32240 - Death and Personal Representatives: Valuation of assets at date of death and associated liaison with Specialist PT-IHT: Ascertained values: Valuation of assets: ascertained values: liaison with HMRC - Trusts and Estate IHT

Thank you.
 

Hi Skinny,

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

Thank you.

Hi WFK1954 Kelly,

Please refer to Articles 7 and 8 of the Double Taxation Treaty - Uk/USA Double Taxation Agreement - 2002

Thank you.

Hi Jim Bow,

You need to declare all of your UK income for the whole tax year.

Thank you.

Hi Jon Carter,

Answers to your 3 qustion are listed below.

The double taxation agreement was recently updated on 01/03/2019 and the pension article changed from 18 to 17.  
Article 17.2 also changed and advises that lump sum payment are now taxable in the UK and not Austria.

Clause 18.2 has changed following the update of the agreement and now lump sum payments are taxatble in the UK.

Following the update of the double taxation agreement, one of the article was removed and those below it moved up 1, meaning the pensions article changed from 18 to 17.

Thank you.

Hi Cram C,

The guidance at  CG57701 states “If a unit holder switches out of one continuing sub-fund into another, there is a disposal for CGT purposes. This is on the basis that the unit holder disposes of an interest in one company and replaces it with an interest in another. But if one sub-fund disappears on being merged with another, rollover treatment under TCGA92/S136 (company reconstruction or amalgamation involving the issue of securities) may be available

Guidance on company reconstructions and amalgamations can be found at CG52700 - Company reconstructions: shareholder: introduction. The basic idea behind schemes of reconstruction is that where the original shareholders keep an interest in the original business then, subject to conditions, they will not be treated as having disposed of their original shares.

The qualifying conditions for S136 TCGA 1992 to apply are covered at CG52701 and there is a relevant example at CG52726 (Investment trust & unit trust reconstructions). 

Thank you,