HMRC Admin 25 Response

Hi Patsy Cheung,
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.
Foreign Tax Credit Relief should be claimed on the SA106, but this would pnly apply for any tax paid in the UK part of the year.
Thank you. 

 

  
 

Hi MartinRL,
Please refer to:
Selling online and paying taxes - information sheet
Thank you. 

Hi benoy,
There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to Inheritance Tax regarding any Inheritance Tax implications:
Rules on giving gifts
Inheritance Tax: general enquiries).
You may also want to review the guidance here:
How Inheritance Tax works: thresholds, rules and allowances Skip to contents of guide Contents
For the property, you wil need to declare any rental income or gain that this generates.
If you make this your main resdience then no capital gains will be due.
Thank you. 

Hi Johnny Yuen,
Please refer to:
RDRM13080 - Residence: The SRT: Annex A: The principle and characteristics of accommodation as a UK tie
Thank you. 

Hi James811 W,
No, as it was not part of QROPS until 2015.
Thank you. 

Hi RetiringHopeful,
Please refer to further guidance here:
Find out the rules around Individual Lump Sum Allowances
Thank you. 

Hi Tomas Loucky,
This will have been issued as your expected annual income for the year is above the threshold.
If you still feel this is incorrect, you will need to speak to your employer to have them change their monthly submssions to reflect this.
Thank you. 

Hi dalesman,
No, Roth IRA accounts are not taxable in the UK, under the tax treaty with the USA.
You do not need to declare this pension on your tax return, however, in the interest of full disclosure, you can mention the pension in the free hand additional information box.
In this way, you are not taxed on the pension, but you are confirming you receive the pension.
Thank you. 
 

Hi Ffn,
You will need to get full details as the US may have imposed witholding tax on these.
Once you have the details, declare as foreign dividends.
Thank you. 

Hi SHAEHMRC,
As you are not tax resident in the UK in the tax year that you earn the income, it is not taxable in the UK, even if transferred to your UK bank account.
Thank you.