HMRC Admin 25 Response

Hi Fran58, 
If you continue to be non UK resident then it will not be taxed.
See further guidance here if you do return to the UK:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. 

Hi Cardinal,
Yes, it will form part of your taxable income.
Thank you. 

 

Hi Eunice Tang,
No, as the income is received in the UK part of the year you need to declare all of it.
Thank you. 

 

Hi Cardinal,
You are correct.
Thank you. 
 

Hi KuenHK,
It is the amount of the original dividends as currency transactions fees are not deductable.
Thank you. 

 

Hi andy1,
There is guidance on capital contribution reserves at CTM15440.
It advises that if the payment is made from the reserve and does not take the form of a dividend, the tax treatment will depend on the whether the recipient is charged to Corporation Tax (CT) or Income Tax (IT).
.CTM15440 - Distributions: general: repayment of share capital: share capital/share premium reduction
In the case of IT, there is very little to go on.
It suggests that the payment could be capital distribution within TCGA92/S122 at CG57800, which advises:
""The receipt of a capital distribution is treated as a disposal of an interest in the underlying shares.
The normal computational rules apply unless the distribution is small compared with the value of the shareholding"".
CG57800 - Capital distributions: introduction
Please have a look at the guidance on small capital distributions (5% or less of the value of the shares at the date of distribution) at CG57835.
CG57835 - Small capital distributions: introduction
Thank you. 

Hi Ch330,
It appeared that you were enquiring about Deeply Discounted securities (DDS).
Gilt edge securities have different guidance to DDS, so it will depend on the type of bonds you have.
Have a look at the links below to so that you can make a decision on the type of bond you hold.
Gilt-edged securities exempt from Capital Gains Tax
SAIM3010 - Deeply discounted securities: introduction
Thank you 
 

Hi SunnyD,
It does not matter that you are resident in Hong Kong.
As a national of another member state of the European Economic Area (EEA), you are entitle to claim personal allowances.
You would tick box 16 fo SA109 and fill out boxes 17 to 19 accordingly.
Thank you. 

Hi CK Wong,
You do not need to register the business as a company.
If you have registered for Self Assessment, as self- employed, then this is all that is required.
When your tax return is processed, Self Assessment will calculate the amount of class 2 and class 4 national insurance that you need to pay.
These payments will be collected through Self Assessment, along with any tax payable.
You can register for Self Assessment, as self- employed here: 
Register for Self Assessment
Provided you have not already registered for Self Assessment.
If you already have a 10 digit UTR for Self Assessment, please contact our webchat helpline here:
Self Assessment: general enquiries.
Thank you.