HMRC Admin 25 Response

Hi Esteban,
Yes, If the money is coming from your bank account, then you will have already paid tax on it through your employment, so you will need to claim the tax relief from HMRC.
This can either be in writing on in a Self Assessment tax return.
No they do not count towards the £10000 limit, however, they will count towards the pension threshold, which is up to £40000 or your gross income in 22/23 or £60000 or your gross income in 23/34.
Thank you. 

Hi enflores
Please direct your question to the Home office.
Conact details can be found here:
Contact UK Visas and Immigration for help
Thank you. 

Hi Angela Shaw,
Income tax is applied using the arising basis, that is income is taxed in the year in which it arises.
Where your bonds generate interest every year, which you have access to, you must declare it in the tax year it arises.
If the bonds cannot be accessed until maturity, then only when they mature, can the be declared for tax purposes.
Thank you. 

Hi Isaac254 Chadwick,
Yes, you would need to complete a Self Assessment tax return (SA100) and SA103F, declaring the tax taken off at box 82 on page SEF4.
You can either claim expenses or the business income allownance of £1000.00, but not both.
Self-employment (full)
Thank you. 

Hi BritishAl23,
The main effect for UK investors who have invested in non-reporting funds, as opposed to reporting funds, is that on disposal of their interests they will be liable to tax on any gain arising as if it were income (that is, an offshore income gain, or ‘OIG’) instead of as a capital gain.
IFM12300 - Offshore Funds: introduction: non-reporting funds
As you have not yet disposed of them or received a distribution, there is nothing to declare at this time.
Thank you. 

Hi N.L. So,
If you have or can obtain a government gateway user ID and password (you need to be able to verify your identity to get one) you can use it to submit a commercial tax return, that include the residence section instead.
There is a list of commercial supplierswho for a fee, will let you use their tax return to submit online:
Self Assessment commercial software suppliers
The HMRC version, cannot be used to submit a non resident tax return.
If you cannot verify your identity, then your only options are to submit a paper tax return or employ an agent to submit it for you.
The Self Assessment tax return must be submitted as a whole, either online or via a paper version.
Thank you. 
 

Hi Golf Man,
The over 15 hour rate will not apply as breakfast and lunch are included in the accommodation payment.
You can still consider the 5 or 10 hours rate (£5 or £10) for the evening meal and the employer can also pay a maximum of £5 per night in relation to incidental overnight exenses for overnight stays in the UK.
EIM02710 - Employment income: incidental overnight expenses: exemption from charge
Thank you. 

Hi ACTS,
From an Income Tax angle, there doesn't seem to be anything regarding a limit on the amount & frequency that "gifts" can be made from non-resident family members.
 As a UK resident, you should declare the income to the bank that the money is being transferred in to, advising them where it's from etc & why he's receiving it.
You will need to report any interest that is accruing on any amounts that remain in your bank account(s) and if you have invested it, you will need to consider if there are any CG, partnership, income from property implications and report those accordingly.
Thank you. 


 

Hi susan Finch,
The settlor of the trust (also known as a truster in Scotland) in 2023 to 2024, has an annual exempt allowance for trusts of £3000.00.
If the settler has created more than one trust, this amount is shared.
Pleass have a look at :
Capital Gains Tax rates and allowances
Thank you. 
 

Hi cop2hogs,
Please refer to guidance at:
Overseas pensions: pension transfers
Thank you.