HMRC Admin 25 Response

Hi taxqueries2024,
If, having taken into account both the SRT and the relevant DTA, an individual with no UK income is deemed non-resident in the UK in a given tax year, then they would not be required to submit a UK tax return.
However, if there is any doubt about the individual's residency circumstances (eg  dual residency) they should register for Self Assessment and complete the Residency and Foreign Income pages.
Tax on foreign income
Thank you. 

Hi Karl,
You are required to submit a Self Assessment tax return every year until you no longer meet any Self Assessment criteria.
You can notify HMRC of your change in residence circumstances by completing the 'Residence, remittance  basis etc'  pages of the outstanding return (plus any other approprate pages).
More information can be found here:
Tax if you leave the UK to live abroad
Thank you. 
 

Hi Bvb23,
HMRC is legally permitted to exchange information with overseas tax authorities to assist with compliance and to tackle tax evasion. IEIM400000 - Automatic exchange of financial accounts information.  
This guidance manual explains the principles involved in exchanging such information, together with the procedures to follow.
The Asian Development Bank's status as a 'Non-Reporting Financial Institution' is in the context of those procedures and does not provide commentary on possible exemption from UK tax for employees of that bank.
Employees of 'International Organisations' can instead refer to the International Manual, at references:
INTM860700 - Immunities and Privileges: Contents: International Organisations
For guidance on potential claims to exemption.
INTM860700 - Immunities and Privileges: Contents: International Organisations
Onwards.
Thank you. 

Hi Ron Mascarenhas,
The new rules do not come into effect until next year on 6 April 2025.
Until then, you should continue to follow the existing rules.
Thank you. 

Hi Hafiz Ahmed,
You should complete the online form P85, to confirm that you have left the UK and will continue to be employed outside the UK, by your UK employer.
Get your Income Tax right if you're leaving the UK (P85).
Your employer can be instructed to not deduct tax from your employment income.
Thank you. 
 

Hi Roy_F,
Please have a look at the guidance at the start of the share valuation form.
If you circumstance are covered in this guidance, you can fill in the form and request a value.
Request for a share valuation.
You can also contact the shares and asset valuations team here:
Shares and assets valuations.
Thank you. 
 

Hi Dhruv Pandit,
Please have a look at article 18, regarding pensions here:
UK/SAUDI ARABIA DOUBLE TAXATION CONVENTION AND PROTOCOL .
It advises that if you are resident in Saudi Arabia and receive a UK based pension or lump sum, this is only taxable in Saudi Arabia.
Thank you. 
 

Hi Mike Cowlishaw,
The disposal of shares for more than they were acquired for, results in a capital gain.
The new method of reporting those gains is by declaring the gain online at:
Report and pay your Capital Gains Tax
This should be done before 31 December after the tax year has ended.
If the ‘real time’ Capital Gains Tax service is not used to report the gains before 31 December, then the gains must be reported in a Self Assessment tax return.
Thank you. 

 

Hi taxqueries2024,
The UK / Canada tax treaty can be found at:
Canada: tax treaties.
Article 20A(3) covers 'Other Income' not covered elsewhere on the treaty, may be taxed in the UK and Candada.
You may then need to consider article 21, the elimination of double taxation.
Thank you. 

 

Hi Norma Barrett,
Please have a look at PTM102200 onwards.
PTM102200 - Transfers: transfers to a QROPS: essential principles of the overseas transfer charge
A charge to UK tax may apply where the conditios of the QROPS transfer are not met.
Thank you.