HMRC Admin 25
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RE: Self Assessment Tax Due Calculation - does not include tax already paid in relevant tax year
Hi pyap23,
Your calculation will include a Balancing Payment for 22/23 which is due on 31/01/2024.
You would then have Payments on Account for 23/24.
Please see:
Understand your Self Assessment tax bill
Thank you. -
RE:How much amount can be transferred From UK to India to Parents as maintenance
Hi aninditag,
There are no tax implications on transferring money from a UK bank to an overseas bank.
You may wish to speak to Inheritance Tax team regarding any Inheritance Tax implications:
How Inheritance Tax works: thresholds, rules and allowances and
Inheritance Tax: general enquiries
Thank you.
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RE: Foreign Workers Exemption
Hi Ryan White,
If you do not need to complete a Self Assessment Tax return, you should contact our Self Assessment webchat facility.
They will be able to withdraw the tax return, so that you do not need to complete it.
They can be contacted here:
Self Assessment: general enquiries
Thank you. -
RE: CGT where two parts of house acquired at different times
Hi flibulating_meerkat,
You will need to obtain the market value of the property at the time the property is gifted to your children.
This will be the disposal value.
Two calculations will be required. The first is your 40%.
You would use your purchase price and costs and deduct this from 40% of the market value at the time of disposal.
For the other calculation, you would use the market value at the time of inheritance plus costs and deduct this from the remaining 60% of the market value.
Both gains should be added together.
There is a calculator here that will help you work out the gains:
Tax when you sell your home
Thank you.
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RE: Split year treatment for overseas work during tax year 2022-23
Hi ts531,
I regret that we cannot confirm if split year treatment applies to your situation.
This is something you will need to work out for yourself.
You will need to apply the residence tests to your situation, to work out if your are resident.
You can them work out if split year treatment applies.
If it does, you will need to claim the split year treatment on a Self Assessment Tax return.
The tests can be found here:
RDR3 Statutory Residence Test
You can register for Self Assessment here:
Register for Self Assessment
Thank you. -
RE: Self-assessment for online tutoring AND completing surveys and interviews
Hi CoffeeAndCats,
The total value of Trading Income Allowance for all self employments cannot exceed £1000.
You can lump all of the website income into one self employment and call it 'Surveys and Interviews' as you mention.
You would complete two SA103S, one for each business or select 2 self employments if doing your return online.
Thank you. -
RE: Tax-free amount calculation
Hi Stephen Dickinson,
You pay back at your highest rate of tax on the deductions.
If you are higher rate you would pay 40% of the figure in the code.
If the child benefit amount is too high you will need to contact our helpline to adjust the figure.
Income Tax: general enquiries
Thank you. -
RE: Remittance basis and arising basis
Hi bmc,
Yes, If your UK gains and foreign gains combined, are below £6000.00 annual exempt allowance, no tax is payable.
The foreign gains still need to be declared.
Thank you. -
RE:Investment /Capital Gain/Loss/Tax credit relief
Hi CL,
If you are completing SA108 paper supplementary page, listed and unlisted shares and securities are declared on page CG2.
Disposal proceeds of £8000, with costs of £10000, gives rise to a loss of £2000, that can be carried forward.
Thank you. -
RE: Property sold. Split transfer then consolidate the funds will cause mixed fund?
Hi bmc,
For Capital Gains Tax purposes, the calculation of any gain is calculated in pounds sterling only, using the official exchange rate in place at the time of acquisition and the time of disposal.
Incidental costs of acquisition and disposal can be deducted from the disposal value.
CG15250 - Expenditure: incidental costs of acquisition and disposal.
The official exchange rates can be found here:
Exchange rates from HMRC in CSV and XML format
Archived rates here:
Exchange rates
In the event that an individual remits funds from a foreign bank account to the UK, they will need to calculate the amount of income and gains the account has had since: the day they moved to the UK and the day they remitted the funds to the UK.
This will determine the amount of income and gains that HMRC will tax.
Thank you.