HMRC Admin 25 Response

Hi david.bremner Bremner,
Both pension providers will contact us when you start receiving your pension income from them,
We will update your tax record with both providers, calculate a tax code for each pension based on the allowances available and income projected. We will send notice of these codes to your pension providers.
When you begin receiving State Pension, your tax free allowances will be reduced to account for the tax you would owe on that State Pension.
We will then recalculate your tax codes, and send notice of these updated codes to all of the pension and employment sources affected. 
Thank you. 

Hi Iainw,
It is the option price.
Thank you. 

Hi ASutherland86 Sutherland,
No, if your partner is not UK resident, she can be employed by a UK employer or undertake work for clients as self employed.
This income is taxable in Indonesia and not the UK.
HMRC does not require the setting up of a company for this work.
If money from this work is sent to a UK bank account, it is still not taxable in the UK, the interest that it generate, potentially is and if the UK interest exceed £10000, than a tax return will be required each year.
We cannot comment on the setting up of bank accounts.
Thank you. 
 

Hi TCY,
Article 14 of the UK / Hong Kong tax treaty advises that your RSU's are only taxable in Hong Kong.
If you dispose of the shares you purchased and you are resindent in the UK, then you will have to declare the disposal in a tax a return and you may have to pay capital gains tax.
UK/HONG KONG DOUBLE TAXATION AGREEMENT AND PROTOCOL
Thank you. 

 

Hi syjohn,
You will be required to declare your foreign income from savings interest in a Self Assessment tax return.
As your self employed income is below the £1000 business income allowance, you do not need to declare this in a tax return.
Thank you. 


 

Hi Christopher Powell,
We are sorry you are having issues registering for Self Assessment.
If you are unable to register online you can download and submit the SA1 form to update your records:
Register for Self Assessment if you are not self-employed
If your address needs to be amended but unable to do this online you can contact HMRC to update here:
Self Assessment: general enquiries
Thank you. 

Hi taxrookie2024,
You can contact an estate agent who can value the property based on similar ones sold at the same time you inherited yours.
Thank you. 

Hi Gillian Smith,
If, the company reinvests the dividends by using them to purchase additional shares on a shareholders’ behalf through a dividend reinvestment plan (DRIP) (the company reinvests the shares automatically, without the shareholder having to do a thing or ever receiving the dividends physically themselves), that shareholder does not pay Income Tax on the reinvested dividends until they eventually sell the shares. A
Thank you. 

 

Hi Jdjplee2002,
Please refer to guidance here:
Tax on foreign income
And
Relief for foreign tax paid (Self Assessment helpsheet HS263)
Thank you. 

Hi KY Wong,
You are correct.
Thank you.