HMRC Admin 25
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Personal tax allowance query?
Hi njc23,
The double taxation agreements allows nationals and residents of the Republic of Korea, to claim personal allowances in the UK, while resident in South Korea.
If your wife was born in the Republic of Korea or in the UK, then she is entitled to claim personal allowanced in the UK, while resident in the Republic of Korea.
The only way for your wife to claim personal allowances, while resident in Republic of Korea, is to complete a Self Assessment tax return, to declare her UK income and that she is not UK resident and claim personal allowances.
Thank you. -
Report on sold oversea property
Hi s991223,
There is no requirement to report losses to HMRC.
But should you wish to, you must delcare the loss either via a Self Asessment tax return or in writing and inlcude supporting calculations.
You have 4 years in which to declare the loss.
Declaring the loss allows the to be carried forward and set against any future capital gains liability.
The address to write to is H.M. Revenue and Customs Self Assessment BX9 1AS.
Thank you.
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RE:Tax on Dividends from Company Share Ownership Plan
Hi Balakrishnan Bhaskaran,
Please have a look at to help identify the scheme that you are participating in, as they offer different tax advantages.
Tax and Employee Share Schemes
Thank you. -
RE: Claiming basic rate tax relief on self-assessment
Hi sb3502,
The pension provider submits a claim to HMRC for 20% of the payment you made into your pension and you claim a further 20% through your tax return.
This give your the full amount of tax relief.
Thank you.
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Stock Dividend
Hi Rakan,
Yes, your total UK and foreign dividends exceed £2000.00, so you need to complete a tax return (SA100).
You will need to declare the overseas dividends in the foreign section of the tax return (SA106) and submit in full, either online or on paper.
File your Self Assessment tax return online
Thank you. -
RE:Income paid in crypto - calculating GBP value
Hi robert lea-kime,
Have a look at the guidance on crypto assets at :
Check if you need to pay tax when you receive cryptoassets
And:
Cryptoassets
They tell you what records to keep and how to declare.
Thank you. -
RE:Non-Reporting Fund
Hi BritishAl23,
The investor in non reporting funds is taxable on income that has been distributed to them.
Please have a look at the guidance on non reporting funds here:
IFM12100 - Offshore Funds: introduction: background to the treatment of UK investors in offshore funds
Thank you. -
RE:Gift from abroad!
Hi Nancy A
You are not required to notify HMRC of any gifts you receive.
Thank you. -
Is Spanish Wealth Tax elibigle for FTCR against income tax due on Spanish source rental income?
Hi Pen T,
Foreign Tax Credit Relief is only available in the UK, to set against tax paid on rental income from property in Spain.
It does not cover the wealth tax, as this tax is separate to income and Capital Gains Tax in Spain.
Thank you. -
Bringing QROPS back to the UK
Hi RJHMC,
You would need to discuss transferring your pension with the pension company.
Please have a look at for more information.
Overseas pensions: pension transfers
Thank you.