HMRC Admin 25 Response

Hi Fampatrick,
As a UK resident, you will be taxable on your world-wide income in the UK.
The Uk / Swiss tax treaty confirms that your private pensions in Switzerland, will be taxable in the UK once arrive in the UK.
You will need to contact the Swiss tax authorities to arrange for you pensons to be paid tax free from that date.
Thank you. 

Hi Eva Ng,
Yes,you are required to declare all of you overseas income and gains, even if no tax is payable.
Thank you. 
 

Hi Lady In Red,
Thank you for your further question.
As previosly stated you would be entitled to use the exchange rate at either the time the rent was paid in July or the date you actually received the income (September or October).
Either exchange rate would be acceptable. 
Thank you. 
 

Hi Lucy,
Thank you for your question.
I would advise you that any unused Finance Costs( mortgage interest payments) can be carried forward if they are not fully utilised in an earlier tax year.
Please refer to the guidance held here:
Tax relief for residential landlords: how it's worked out
You should keep a running total of the unused residential finance costs in either Box 45 of a paper tax return or the equivalent box on an online tax return. 
Thank you. 
 

Hi clive radford,
We can only provide general information / guidance in this forum and cannot comment on examples or scenarios.
Thank you. 

Hi cross_entropy,
You are taxed on your world-wide income in the UK, so you are required to delcare the interest in your overseas savings accounts.
You will need to convert to pounds sterling to declare in the tax return.
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.
For your convenience, there are exchange rates at:
Exchange rates from HMRC in CSV and XML format
You can utilise an exchange rate from elsewhere.
Thank you. 
 

Hi Egor,
Thank you for your query. 
Whether your company will need to pay UK corporation tax depends on where it is considered resident for tax purposes. 
A company which is resident in the UK is normally subject to corporation tax on the whole of its chargeable profits on a worldwide basis (subject to relief for double taxation).
A company which is not resident in the UK is only liable to corporation tax if it carries on a trade in the UK through a permanent establishment.
You can find guidance on comwpany residence at:
INTM120000 - Company residence: contents
You can find guidance on who should register for VAT at:
Who should register for VAT (VAT Notice 700/1)
If you need advice about the company’s residence status and tax obligations, you will need to contact a financial adviser, such as an accountant. 
Thank you. 
 

Hi Maelona Parry,
Thank you for your query. 
You can find HMRC guidance about company residence here:
INTM120000 - Company residence: contents
For the personal tax please refer to:
Tax on your UK income if you live abroad
Thank you. 



 

Hi peter chan,
Thank you for your query. 
An overview of company residence can be found here:
INTM120010 - Company residence: why is company residence important?
INTM120030 - Company residence: overview
Thank you. 
 

Hi Vishnu Lakhani,
Thank you for your query. 
You can find guidance here:
Tell us about suspicious activity that may be linked to money laundering
Thank you.