S Fawcett
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Where to declare dividends under £1000 on foreign-held stock
Dear HMRC, I have a stock plan account in the United States. The dividends from the stock are paid directly into a cash reserves section held within the account, not to any of my UK Bank accounts. My 1042-S form for 2023 indicates that my Gross Income amounted to less than £1000 and there is also a small amount of Federal Tax Withheld (under £100 worth). Please can you confirm whether I need to complete the Foreign Section of my self assessment return for this declaration, or do I instead enter the amount of Gross Income on the Dividends page under ‘Foreign Dividends’, and the amount for Federal Tax Withheld under ‘Tax taken off Foreign Income’? Thank you for your help. -
Designated as a home worker by employer, am I still able to claim for Home Working Tax Relief?
Dear HMRC. I’m still designated as a full-time home worker by my employer, am I still able to claim for Home Working Tax Relief? If so: Do I check ‘Yes’ under ‘Do you wish to claim any employment expenses or capital allowances while working for…?’ How much would I be able to claim - is it still £6 per working week? And would I enter the amount on the Employment Expenses page under ‘Other Expenses and Capital Allowances’? Thank you -
Does cashed in part of Index linked savings certificate need to be declared on SA return?
Dear HMRC. I have an Index linked savings certificate with National Savings & Investments which I partly cashed in during September 2023. Does the amount cashed in need to be declared on my return and if so, in which section would I do so, please? Kind regards, -
P11 benefits statement says Private Medical already taxed - does it need to be on my return?
Dear HMRC. I have Private Medical/Dental Expenses through my employer but on my P11 benefits statement it states this has been taxed through payroll. When I fill in the section for my PAYE income from my employer, one question asks: have you received any taxable benefits or expense payments? Do I check no for this, because it has already been taxed through payroll? If I DO need to add it on my return, does it go in the Taxable Benefits and Expenses section under Private Medical and Dental Insurance? Thank you. -
Capital Gains Tax on US stock dividend cash when transferred to UK?
I have a long-held stock plan account in the United States (part of my remuneration package from a former employer) made up of stock and cash reserves, the latter comprising dividends accumulated from the stock. I pay tax in the US on the dividends, which I also declare on my yearly UK tax return I just wish to confirm that I can transfer funds from the cash reserves in the US stock account to my British bank account without being liable for paying tax in the UK on the transferred amount? Or if there is any yearly tax-free limit to the amount that could be transfered, please could you advise me? Thank you.