HMRC Admin 17 Response
Joined: 1/20/2021
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RE: Cash gift from parents outside UK
Hi
Alberto Fernandez ,
There are no income tax implications on the receipt of a cash gift unless the income 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 .
You may also want to look at guidanc at :
Tax on foreign income .
Thank you. -
RE: BNO
Hi
Nella,
Please see guidance at :
Gains on foreign life insurance policies (Self Assessment helpsheet HS321) .
Thank you. -
RE: BNO
Hi
Nella" ,
Yes it will be taxed the same way as other dividends that you receive :
Tax on dividends .
Thank you. -
RE: Foreign interest and dividends
Hi,
Yes the savings allowance £1000 can cover this but you still need to declare it.
HMRC cannot refund tax from another country as this can only be used to set aginst any UK tax for the same source of income .
Thank you. -
RE: Money transfer
Hi
kingkhl ,
No income tax is payable when you transfer funds from an overseas bank account to a UK bank account.
However you may have to pay tax on any interest or dividends that arise.
See link:
Tax on savings and investments: detailed information .
Thank you. -
RE: Money transfer
Hi
MEHMET SAHIN ,
UK companies are obliged to deduct PAYE tax from the earnings of remote employees, so you will already be paying
UK tax unless a code 'NT' has been authorised.
Please contact HMRC when you move to the UK for further advice on how to proceed : :
Employees working abroad .
If a UK resident transfers funds from an overseas bank account to a UK bank account, the transaction is regarded by HMRC as non-taxable.
Any interest or dividends arising when the funds are deposited in the UK account may however have to be declared.
Thank you.
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RE: Email contact with HMRC
Hi,
You cannot contact HMRC by email.
You will either need to telephone +441355359022 or write to HM Revenue and Customs
BX9 1AS.
You can appeal penalties, provided we have received your tax return.
Guidance can be found at :
Self Assessment: appeal against penalties for late filing and late payment .
Thank you. -
RE: Bank Details for Tax Refund
Hi,
It can take up to 10 working days from the date of issue.
Repayments can be stopped for additional security checks and if we require any further information you will receive a letter.
Thank you. -
RE: BNO
Hi
Ho Yee Shing,
We are unable to answer specific questions.
There is guidance at :
Tax on foreign income , to help you determine your residence status .
Thank you. -
RE: Cash gift from parents outside UK
Hi,
There are no income tax implications on the receipt of a cash gift unless the income 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.