HMRC Admin 20 Response

Hi Mitch,

You still need to report the sale if the disposal was more than £49200 for 22/23 or £24000 for 23/24.

Thank you.

Hi Em Ho,

Please refer to Take cash in and out of the UK

Thank you.

Hi Father Paul,

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 PMM51,

You will need to ensure you have added the income - the section at the bottom of the page allows you do this.
We would not do it manually unless your return was selected for a review or if you contacted us to look at it.
If you wish us to look at if after it has been submitted, you will need to contact us via webchat as the phone line is closed until September.

Thank you.

Hi Dave Oafish,

Under the guidlines of the details mentioned, the income is not a UK sourced income and is foreign income that you are not remitting.
You should also refer to section 9.15 to ensure you meet the full requirements that no return is required.

Thank you.

Hi Chris,

Yes as you will also be splitting the income received.

Thank you.

Hi megs93,

You can set any of the capital costs for the period of ownership against any potential gain.
The buying/selling costs are not time apportioned so full relief will be due (assuming you have sole ownership).

Thank you.

Hi marcohlf Ho,

If you are tax resident in the UK, you need to declare your worldwide income and pay tax here.
You can get relief for the tax paid abroad to reduce your liability -
Tax on foreign income Skip to contents of guide Contents

Thank you.

Hi snapperdragon,

As the payment is from your employer, the income should be shown in the employment section if it is included in your P60.
You would then claim credit for the Tax in the foreign section under 'Employment, self-employment and other income which you paid foreign tax on'.
If it's not included in your P60, please include it on the box on the employment page for 'Tips and other payments not included on your P60'.  
ERSM20193 advises that when RSUs payout at the market value on what is called "dividend equivalents" in either cash or shares, such payments will generally
be taxed as earnings in the year they are received.  
ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents 

Thank you.

Hi Sonia,

As you need to complete the residence section SA109, you cannot file online using HMRC software. you can still file online if you purchase 3rd party software -
Self Assessment commercial software suppliers.
If you do not wish to purchase this, you will need to file by paper.
The whole return must be filed together so either all online or all in paper form.

Thank you.