HMRC Admin 25 Response
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RE: Returning to the UK. How to notify HMRC
Hi devtoka,
You can contact our webchat facility at:
Self Assessment: detailed information
To advise them when you return to the UK, or you can phone the Self Assessment helpline (after 4 September 2023) on 0300 200 3310.
My colleagues can then advise if a tax return is required and can ensure that a revised tax code is issued to your employer.
Thank you. -
RE: Selling property in India and bringing proceeds to UK
Hi guynextdoor Smith,
You will need to work out if there is a Capital Gains Tax liability arising in the UK.
You will need to convert your acquisition costs to pounds sterling, using the exchange rate in operation at the time you acquired the property.
You will also need to do the same with the disposal costs, using the exchange rate in operation at the time you disposed of the property.
If the difference results in a gain, then you will need to declare the disposal of the Indian property on a Self Assessment Tax return.
The official exchange rates can be found here:
Exchange rates from HMRC in CSV and XML format
Exchange rates
If your Indian home was your main residence, then you may be able claim private residence relief (PRR).
Guidance on PRR and a calculator can be found here:
Tax when you sell your home
Thank you. -
RE: Transferred Savings
Hi Kaban,
This income was generated when you were not resident in the UK and so is not taxable in the UK, when you transfer it to a UK bank account.
Thank you.
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RE: Foreign income one-off back pay
Hi Noelmaru,
Your back pay is not taxable in the UK under the DTA as the work that it relates to was carried out in Hong Kong.
Thank you. -
RE: UK Taxation on US based retirement fund dividend payments
Hi Kate Kehoe,
UK/US citizens resident in the UK, are taxable on their IRA interest in the UK.
The gross interest would be declared in your Self Assessment Tax return, using the supplementary page SA106.
The interest would be treated in the same way as UK interest and attract that starting rate of £5000.00.
Have a look here:
Tax on savings interest
DT19852 implies that tax is not payable in the USA on this interest.
Thank you. -
RE:ENHANCED PROTECTION CERTIFICATES
Hi Tony Ward,
If you hold valid enhanced protection with lump sum protection, you can retain the lump sum protection that is noted on your protection certificate.
This means that you are entitled to a tax-free lump sum at the value of the protected percentage of your pension pots on 5 April 2023.
If you hold valid enhanced protection, but do not hold lump sum protection with it, you are entitled to a tax-free lump sum of up to £375,000.
Any contributions made after 5 April 2023 will not be included in the calculation for your increased tax-free lump sum.
You should contact your pension provider with regard to whether the box should have been left blank on your certificate.
Thank you. -
RE: Tax Free Lump Sum from multiple pension pots
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RE: Carrying Forward Losses
Hi rodders54,
This is just an advisory message, if you are in fact using the losses this year and you can save/continue.
If you are not using the losses leave the box blank.
Thank you. -
RE: Non-UK Director receiving salary
Hi JHK2023,
Yes, as an employee of a UK company, you are subject to the UK PAYE system,
However, your employer can contact HMRC to seek a direction to operate PAYE on an employees earning.
Your employer (or their acting agent) would do this by summitting form S690:
Apply for a direction to operate PAYE on an employee's earnings
Based on the information provided, confirmation on how to operate PAYE will be sent to your employer.
Thank you. -
RE:Sole Trader Visa Requirement