HMRC Admin 17 Response
Joined: 1/20/2021
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RE: UK Tax on Australian Superannuation
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RE: Money transfer
Hi,
Dear Roman, HMRC requires UK residents to declare (via a Self Assessment tax return) their worldwide income and gains.
However, as was explained previously, the transfer of funds from an overseas bank account to a UK bank account is not in itself a taxable transaction,
and does not have to be reported to HMRC (although any interest arising when the funds are deposited in a UK bank account
should of course be declared to HMRC).
Thank you. -
RE: UK Tax on Australian Superannuation
Hi
Neil Sanderson,
You are required to declare your overseas income to HMRC unless all of the following circumstances apply:
(a) your only foreign income is dividends
(b) your total dividends - including UK dividends - are less than the £2,000 dividend allowance and
(c) you have no other income to report.
See Link:
Check if you need to send a Self Assessment tax return .
Thank you. -
RE: Money transfer
Hi,
Foreign income and gains are only taxed in the UK when they, or amounts ‘in respect of’ or amounts ‘representing’ those income or gains,
are ‘remitted’ to the UK.
If foreign income and gains remain offshore and are never regarded as remitted to the UK, the tax charge is effectively deferred indefinitely.
RDRM31030 - Residence, Domicile and Remittance Basis Manual - HMRC internal manual - GOV.UK (www.gov.uk).
If the overseas account contains income or gains have arisen while t/p is resident in the UK there is a potential tax charge when
the account is remitted to the UK.
Thank you. -
RE: Overseas Remote employee for a UK based employer
Hi,
Given the circumstances you have outlined, please complete form P85 to enable HMRC to decide if an NT tax code is appropriate.
As regards the NIC position, please refer to the guidance below:
Employees working abroad and :
Get your Income Tax right if you're leaving the UK .
Thank you. -
RE: Money transfer
Hi
Nabil,
If you receive an inheritance from an estate that includes foreign assets, or if the deceased lived abroad, there may be UK Inheritance Tax consequences.
Please refer to the guide below for a detailed Inheritance Tax overview:
How Inheritance Tax works: thresholds, rules and allowances .
Thank you. -
RE: Money transfer
Hi
Dear Guner, I can confirm that the movement of money from an overseas bank account to a UK bank account is a non-taxable transaction.
Thank you. -
RE: UK Tax on Australian Superannuation
Hi,
If the individuals now have ownership of the pension as a lump sum or an ongoing monthly payment for e.g. then we would expect
this to be declared as being in receipt from an overseas pension, which should be declared on a Self Assessment tax Return under the Foreign section.
Thank you. -
RE: Certificate of Residence for tax purposes
Hi,
HMRC are encoutering a large amount of email requests for Certificate of Residence letters and there is a backlog.
I would suggest re submiting your request by choosing our 'Online' option as oppose to 'Email'.
The online requests have an approximate 5 day turnaround.
See link:
How to apply for a certificate of residence to claim tax relief abroad .
Thank you. -
RE: Cash gift from parents outside UK
Hi,
There are no income tax implications on the gifts of money unless the money accrues interest in a bank account,
at which point the interest would potentially be subject to tax.
Thank you.