HMRC Admin 25
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RE: Employment Lump Sums - Bonus Payments
Hi R Thornhill,
If the bonus payment is included in your P45 or P60, then it would be shown in box 1 of form SA102, along with your employment income.
If it not included on your P45 or P60, then the bonus payment would be shown in box 3 of form SA102
Employment notes
Thank you.
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RE: Foreign remittance to UK under arising basis and split year treatment
Hi ERM2023,
Although the Hong Kong property income is taxable in Hong Kong, when you are tax resident in the UK, it is also taxable here.
You would need to check if split year treatment applies.
If it does, you would declare the income from the date you are tax resident.
If you do not qualify for split year treatment, you would need to declare the overseas property income from 6 April 2022 and in both cases, claim a Foreign Tax Credit for the overseas tax paid.
RDR3 Statutory Residence Test
Thank you. -
RE: Reporting CGT on Overseas Property sale
Hi ogmir,
March 2023, is in the 22/23 tax year.
Any foreign income or capital gains must be declared in a Self Assessment Tax return.
To avoid late filing penalties and interest charges, a paper tax return must be in HMRC possession, no later than 31 October 2023.
A tax return submitted online, has up to 31 January 2024.
In both cases, payment of the tax must be made by 31 January 2024, to avoid late payment penalties and interest charges.
Thank you. -
RE: Non-resident use of Self-Assessment Tax Return Filing from within Personal Tax Account
Hi Paul Weller,
You cannot file a Self Assessment tax return online: for a partnership, for a trust or estate, if you lived abroad as a non-resident, to report multiple ‘chargeable gains’, for example from life insurance, if you get income from a trust, you’re a Lloyd’s underwriter or a religious minister.
Instead, you will need to purchase 3rd party commercial tax return, using your government gateway user ID and password or download paper tax returns and supplementary pages instead.
File your Self Assessment tax return online
Thank you. -
RE: Sole Trader/Business Trading Name
Hi Gerry More,
The business name you would declare when registering for a Self Assessment Tax return, is used mainly to identify a different trade, where you have more than one self- employment trade and is for Self Assessment purposes only.
It is not registered in any way and as the letter advising you of your 10 digit UTR number is standardised, it will not show your business name, as the UTR number covers all sources of world-wide income, not just self- employment.
Expenditure incurred on advertising to establish a market share for a new product or brand may be capital.
An asset of this type is normally developed from scratch in-house although it may occasionally be built up from the acquisition of a struggling brand name or the rights in an invention.
BIM35640 - Capital/revenue divide: intangible assets: expenditure developing a brand name
Thank you.
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RE: Universities and Colleges Superannuation Scheme and Taxation in Germany under the UK-German DTA
Hi G Brett,
Yes, as it is not a social security pension for any country.
Thank you. -
RE: Sole gift form joint account
Hi AJ06 J,
As a joint account it would be seen as 50/50.
For IHT purposes, please refer to:
How Inheritance Tax works: thresholds, rules and allowances -
foreign capital gains
Hi rmb,
You can use the details to match what you have already submitted and then claim Foreign Tax Credit Relief for the tax paid in the USA to set against the UK tax on the same income.
Thank you. -
RE: Interests on savings from fixed-rate bonds on foreign account
Hi smil,
As a UK tax resident you would declare your worldwide income even if it is your choice not to bring the funds to the UK.
Thank you. -
RE: CGT payable if I earn below my tax free allowance
Hi Bill Honiton,
Your son is still classed as a basic rate taxpayer and as the personal allowances cannot be used against Capital Gains Tax, the income would be taxable at 10%.
Thank you.