HMRC Admin 25 Response

Hi Jon Carter,
Only if the conditions at 17.1 are not met.
Thank you. 
 

Hi Mark Lambert,
Please refer to guidance here: 
Tax on your UK income if you live abroad
Thank you. 
 

Hi ogmir,
March 2023, is in the 22/23 tax year.
Any foreign income or capital gains must be declared in a Self Assessment Tax return.
To avoid late filing penalties and interest charges, a paper tax return must be in HMRC possession, no later than 31 October 2023.
A tax return submitted online, has up to 31 January 2024.
In both cases, payment of the tax must be made by 31 January 2024, to avoid late payment penalties and interest charges.    
Thank you. 

Hi Gerry More,
The business name you would declare when registering for a Self Assessment Tax return, is used mainly to identify a different trade, where you have more than one self- employment trade and is for Self Assessment purposes only.
It is not registered in any way and as the letter advising you of your 10 digit UTR number is standardised, it will not show your business name, as the UTR number covers all sources of world-wide income, not just self- employment.
Expenditure  incurred on advertising to establish a market share for a new product or brand may be capital.
An asset of this type is normally developed from scratch in-house although it may occasionally be built up from the acquisition of a struggling brand name or the rights in an invention.
BIM35640 - Capital/revenue divide: intangible assets: expenditure developing a brand name
Thank you. 
 

Hi HY C,
1. For your scenario it will be the date you arrive in the UK as the 'home' is already sorted
2. A home can be a building, or part of a building, a vehicle, vessel or structure of any kind which is used as a home by an individual. It will be somewhere which an individual uses with a sufficient degree of permanence or stability to count as a home.
3.  Please refer to point 2  
4.  As the contracts were exchanged prior to arrival it is foreigh income out with the UK part of the year.
Thank you. 

Hi Fran58, 
If you continue to be non UK resident then it will not be taxed.
See further guidance here if you do return to the UK:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. 

Hi bobo 1,
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.
Inheritance Tax: general enquiries 
You may also want to review the guidance at:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. 

Hi Tsz Chun,
No.  There is no tax liability in transactions of this nature.
Thank you. 

Hi guynextdoor Smith,
You will need to work out if there is a Capital Gains Tax liability arising in the UK.  
You will need to convert your acquisition costs to pounds sterling, using the exchange rate in operation at the time you acquired the property.
You will also need to do the same with the disposal costs, using the exchange rate in operation at the time you disposed of the property.
If the difference results in a gain, then you will need to declare the disposal of the Indian property on a Self Assessment Tax return.
The official exchange rates can be found here:
Exchange rates from HMRC in CSV and XML format
Exchange rates 
If your Indian home was your main residence, then you may be able claim private residence relief (PRR).
Guidance on PRR and a calculator can be found here:
Tax when you sell your home
Thank you. 

Hi Aleksandr Belozertsev,
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
Thank you.