HMRC Admin 25 Response

Hi calmokhtar,
Please refer to:
Individual Savings Accounts (ISAs)
Please check with the ISA providers who will be able to guide you on this matter
Thank you. 

Hi L1972 L1972,
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:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. 

Hi Del,
If you are not tax resident in the UK for the whole of the 2024 to 2025 tax year, then any income or capital gains that arise outside of the UK in that time period, are not taxable in the UK.
Only income and capital gains that arise in the UK, would be declarable in the UK.
Thank you. 

Hi 2d2marcin,
As you will no longer be resident in the UK, you should complete the online form P85:
Get your Income Tax right if you're leaving the UK (P85)
To report that you are leaving the UK and when and that you will continue to be employed by a UK employer.
From this, HMRC can advise your employer to operate a 'NT' tax code, so that they do  not deduct tax, as you will be liable to pay tax in Poland on this (as they would see it) overseas income.
If you commence self employment in the UK, prior to moving to Poland, you would need to declare that part which was earned while resident in the UK in a Self Assessment tax return.
The remainder would be taxable in Poland.
Thank you. 

Hi user888,
Bank interest falls under income tax legislation, as does NS&I bonds, so are taxed as income, not capital gains.
Up to 5 April 2023, the criteria for declaring capital gains in a tax return, was £49200 (4 times the annual exempt allowance) disposal value.
For 2023 to 2024 onwards, this was changed to £50000.00.
If a tax return is required for any other reason and the assets disposed of exceed £50000 in value, then the gains are required to be reported in a Self Assessment tax return.
Please have a look at the guidance notes for SA101 (additonal information) as NS&I income bonds should be declared here:
Additional information notes
Thank you. 
 

Hi JanetTootill,
You would need to take this up the the German authorities.
Thank you. 

Hi Anthony Chambers,
What country are you refering to please...is it still Bulgaria?
Thank you. 

Hi mattk kiki,
Armed forces pensions are governement pensions and remain liable to tax in the UK unless you are a national and a resident of Thailand.
No new updates have been posted to the treaty:
DT18650 - Thailand: Agreement
Thank you. 

Hi hmrccarrie,
SA102 is used to declare your UK employment income and UK tax deducted.
SA102 is also used to declare the foreign income (not tax).
Use "N/A" when declaring the employer reference in box 4.
You would need to complete 2 empolyments on SA102 or online.
If tax was payable on your Hong Kong income, you would declare this in the Foreign section (SA106) and claim a foreign tax credit of up to 100% of the foreign tax paid.
Thank you. 

Hi anordinaryperson,
There is no UK capital gains liability from the transfer of assets between spouses or civil partners.
If you give your share to your wife, there is no capital gains tax to pay.
Your wife will acquire your share of the property at your acquisition value, when you initially acquired the property, so that if she disposes of the property, then the gain is based on the acquisiton costs.
The taxation rules in the other country may result in tax being payable there.
Thank you.