HMRC Admin 25 Response

Hi Rex Li,
The exempt amount is calculated automatically in the calculation.
Thank you. 

Hi Penny T,
Yes as an estimated underpayment for the actual tax year it was not an underpayment from a previous tax year and the answer would be zero.
Thank you. 


 

Hi Penny T,
This would only apply if you are self employed/partnership and have losses to carry back.
Thank you.

 

Hi Christian Tsang,
Please refer to guidance here:
Who must send a tax return
Thank you. 

Hi John B54,
There is no online calculator for this, but you can work out any gains / losses by following the guidance here:
Work out if you need to pay
If you have a gain to report, then you can do so here:
Reporting and paying Capital Gains Tax
Up to 31 December after the tax year end, otherwise you will need to declare in a tax return.
Thank you. 

 

Hi Albert Einstein,
No, its not taxable here.
Thank you. 

Hi Neil Horton,
Under the terms of the double taxation treaty, the MPF is only taxable in Hong Kong and doesn't need to be declared here.
Thank you. 
 

Hi Penny T,
As it is pre populated, you can accept it.
Thank you. 

Hi orgndy-slog-0k,
It will be a cash dividend. as the RSU is part of your P60, you dont include it anywhere else.
It is on the P60 as part of your employment page.
Thank you. 

Hi eko,
Both foreign and domestic income is added together and the overall liability calculated.
Anyone who is resident in the UK and is not domiciled in the UK, can choose to claim the remittance basis of taxation.
In doing so, you lose your personal alloances / annual exempt allowance for capital gains and if you have been resident in the UK for a certain length of time, will also incurr the remittance basis charges.
Please have a look at sectin 9 of RDR1:
Residence, domicile and the remittance basis: RDR1
which may help you decide if it is beneficial to you.
Thank you.