HMRC Admin 25
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RE:Director Fee from Overseas Company
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RE:Split year treatment starting month
Hi bearcc,
That is for you to determine based on the guidance available:
RDRM12000 - Residence: The SRT: Split year treatment: Contents
Thank you, -
RE:Capital gain tax VS self employment tax
Hi MJ K,
This will be capital gains if you are above the annual exempt amount of £12300.
Thank you. -
RE:Foreign Life Insurance Policy - chargeable events in non-UK part under split year treatment
Hi Peterson,
If you qualify for split year then you only report any foreign income for the UK part of the year:
RDRM12000 - Residence: The SRT: Split year treatment: Contents
If you do not qualify then you will need to report all your foreign income to the UK
Tax on foreign income
The guidance at will help you work out if split year treatment applies.
RDRM12150 - Residence: The SRT: Split year treatment: Case 4: Starting to have a home in the UK only
Thank you.
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RE: Tax from Employment for an overseas company without UK presence in the Uk and overseas
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RE:Relief on SIPP compensation payment
Hi ZaphodBeeblebrox,
You will need to write in with evidence to show that no relief has been given.
HMRC, PAYE & Self Assessment BX9 1AS.
Thank you. -
RE:Childs dependants pension paid to parent
Hi SandwichYears,
The actual money paid in is still classed as belonging to your child.
Any interest that is generated though is classed as yours.
Thank you. -
RE:Self-employment at Overseas and Tax Return for the Year 2022-2023
Hi maxso,
Under the double taxation agreement with Hong Kong, any employment where the duties are carried out in Hong Kong are not taxable. as such, any income prior to your arrival in the UK is not taxable.
As you have been self employed since February, you will need to complete a tax return if your turnover was over £1000.
The number of hours you work is irrelevant when determining if a return is due as it is based on your buisiness turnover.
Thank you. -
RE:Investment Linked Insurance Policy
Hi mkcchan,
The result of the calculation when a chargeable event arises may not be a positive amount.
There’s no relief for a loss and you should not make any entries on your tax return.
However, if the result of a full surrender, death or maturity calculation is negative and you made gains on the policy in earlier years, the section that follows about ‘deficiency relief’ may be relevant.
A loss on one policy cannot be set off against a gain on another policy.
Thank you. -
RE: Can Australians claim non dom status in the UK
Hi Jbad94,
This depends on your own personal circumstances.
The remittance basis is an alternative tax treatment that’s available to individuals who are resident but not domiciled in the UK and have foreign income and gains.
Remittance basis is not available if you are deemed domicile in the UK.
You will be deemed domicile if you were born in the UK with UK domicile of origin and UK resident in 2022 to 2023 tax year, or you have been UK resident for at least 15 of the previous 20 tax years and UK resident in 2022 to 2023 tax year.
Thank you.