HMRC Admin 25 Response

Hi Prakash Chawla,
Under the UK-India Double Tax Convention, NRE account interest taxable in the UK can receive credit not exceeding 15% for Indian tax even if this has not been paid. 
UK tax relief not exceeding 15% is available for ten years from the opening date of the NRE account per Article 24(5) UK-India Double Tax Convention. 
NRE interest income should be declared within an in individuals UK Self Assessment return.
It can be claimed in respect of ONLY that account.
Foreign Tax Credit Relief would only be due on the other account if in fact tax has been deducted and there is UK liability
Thank you. 
 

Hi Matt,
If you meet the 2 conditions highlighted then yes.
Thank you. 

 

Hi Questions,
Tax is not due on the the capital, but any interest or dividends that this then generates needs to be reported. 
Thank you. 


 

Hi AidanW,
This dpends on the amount received.
You will be due your personal allowance of 12570 and then taxed at either 20% or 40%
Thank you. 

 

Hi Danielle,
This is not taken into account at this point.
It is only when the house is sold and it is the overall gain for the whole period that is considered.
You can then claim Private Resdience Relief for the period you lived in the property.
Thank you. 


 

Hi Heather Powney,
Please refer to guidance here:
Tax on foreign income
Thank you. 

Hi Festim Vata,
WE are sorry for the delay in returning your documents to you.
Please  contact us by webchat or phone here:
Income Tax: general enquiries
So we can provide you with an update.
Thank you. 

Hi kygbk21,
If these deductions are taken from your gross pay, and not deducted before your gross pay is calculated, then they would not be factored into your ANI calculation.
Please contact Child Benefit here:
Child Benefit: general enquiries
For more advice.
Thank you. 

Hi Katherine,
To give you the best advice here, we may need to ask your daughter for more information.
Please ask her to contact us by webchat or phone here:
Self Assessment: general enquiries 
So we can advise her further.
Thank you. 
 

Hi davbut,
You can use this page to check which software works with Making Tax Digital for Income Tax:
Find software that works with Making Tax Digital for Income Tax
Thank you.