HMRC Admin 25 Response

Hi Chung Kin Cheung,
Please refer to guidance here:
Guidance on the tax rules affecting investment funds and fund managers.
Thank you. 

 

Hi katdallimore,
Yes as this would be seen as a sale. your sister would then need do declare the rental income.
Thank you. 

Hi bobby2244,
Please refer to:
Individual Savings Accounts (ISAs)
Thank you. 

 

Hi Clarky55,
Once the claim has been approved, HMRC wil send you a letter to confirm and also issue the NT code to the pension provider.
Thank you. 


 

Hi dabbler,
Report your offshore income gain in the Foreign Pages (SA106) on page 6 ‘Other overseas income and gains’ at box 41
Thank you. 

Hi dunamis King,
Please refer to:
Who must send a tax return
Thank you. 
 

Hi tarzan99 Chan,
There are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
A tax return is therefore not required to declare the actual gift.
Thank you. 

 

Hi Calvin Lloyd,
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 Edward,
Please refer to:
HS265 Offshore funds
Thank you. 

 

Hi dantelo,
Please refer to:
Additional information notes
And in particualr box 5.
Thank you.