HMRC Admin 25
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Tax (BNO Visa)
Hi Jeff250,
There are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
and
Tax on dividends
Thank you.
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RE: Foreign interest and dividends
Hi Eva,
Yes you can if no foreign tax has been deducted on it.
Thank you.
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RE:Taxable period for foreign tax
Hi Nadiia,
Based on the information you have given, you are resident from April 2022 and as such the full years income is taxable.
When registering, your start date should be the date you arrived in UK.
Thank you.
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RE: Split year treatment
Hi SaSa,
Sorry, this still does not fully clarify.
Please, you will need to telephone to give a better explanation for the definitve answer to be given. 0300 200 3300.
Thank you.
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Split Year - start date for the UK part
Hi CC Chan,
It will apply from 14/8/22.
Thank you. -
RE: HS304 or DT-individual form?
Hi nickkaz,
As non resident, any interest declared will be classed as disregarded income anyway so you do not need to HS304 or DT form.
You can still choose to submit the HS304 though if you wish for peace of mind.
Thank you.
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RE: UK Tax on Australian Superannuation
Hi Susi,
Yes, under Article 17 of the double taxation treaty they are taxable here.
Please aslo refer to helpsheet 264 as you state you have domicile status:
Remittance basis 2021 (HS264)
Thank you. -
RE:Inherited foreign property valuation
Hi Belo88,
A valuation should have been done at the time the person who owned it passed away.
If not you will need to get 3 different estate agents to value it and take an average. there may therefore still be an increase that would be liable to capital gains.
You do not need to report the inheritance of the asset, just the sale if applicable.
Thank you.
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RE: Calculating Net Adjusted Income for Child Benefit High Income Tax Charge
Hi Dave_ebay Ebay,
You may have to pay High Income Child Benefit Charges (HICBC) if your income before personal allowances, exceeds £50000.
For every £100 above £50000, 1% of the child benefit is required to be repaid.
When your income reaches or exceeds £60000, then 100% of the child benefit will need to be repaid.
Based on net self employment income of £30000 and net income from property of £32000, your income is over £60000.00 for child benefit purposes, which would mean all the child benefit would need to be repaid.
Please have a look at:
High Income Child Benefit Charge
For some guidance on high income child benefit charges.
Thank you.
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RE:PSA - Staff entertaining event cancelled
Hi paul307130,
You will need to write to PAYE Settlement Agreements, HM Revenue and Customs,
BX9 2AN for advice on this.
Thank you.