HMRC Admin 25 Response

Hi Ieatcottagepies,
HMRC cannot comment on future events as legislation and/or plans may change.
If you qualify for split year then you only report any foreign income for the UK part of the year:
RDRM12000 - Residence: The SRT: Split year treatment: Contents.
If you do not qualify then you will need to report all your foreign income to the UK
Tax on foreign income
The guidance at
RDRM12150 - Residence: The SRT: Split year treatment: Case 4: Starting to have a home in the UK only
Will help you work out if split year treatment applies.
Please also refer to guidance here:
Self Assessment tax returns.
Thank you 

 

Hi fcfu305,
If you qualify for split year then you only report any foreign income for the UK part of the year:
RDRM12000 - Residence: The SRT: Split year treatment: Contents.
If you do not qualify then you will need to report all your foreign income to the UK
Tax on foreign income
The guidance at RDRM12150 at www.gov.uk will help you work out if split year treatment applies. 
Thank you. 

 

 

Hi Withoutwax,
Yes,you need to declare this:
Tax on foreign income
Thank you. 

 

Hi trupatibalaji9,
If you are UK tax resident and domiciled you are liable on your worldwide income even if you have chosen not to remit any of the income to the UK.
You still need to include the income in your tax return.
Thank you. 


 

Hi Jamie Smith,
Please refer to:
Lifetime allowance guidance newsletter: March 2024
HMRC cannot provide answers to hypothetical or actual scenarios and if further advice is still required, you will need to contact us direct
Self Assessment: general enquiries.
Thank you. 

 

Hi Jack Tam,
Please select self employed. 
Thank you. 

 

Hi Lucinda,
You need to show all the foreign income in the tax return.
Please see guidance here:
Tax Return notes
Thank you. 

Hi sean41186,
As the account is in your name, you declare all of the interest as part of your income - add it to your own interest.
With regards to the 2nd account, as this is under £100 this will remain tax free and you dont include it in your return.
HMRC cannot advise you on how to split the money paid into the account as this is financial advise which we are not authorised to give.
Thank you. 

Hi Vivitim123,
Yes, this would be self employment and covered by the trading allowance so no need to declare.
Thank you. 

 

Hi ej,
Only for the period used in Isle of Mann and Channel Islands.
Thank you.