HMRC Admin 25 Response

Hi soton123,
Foreign Tax Credit Relief ony applies on the actual tax paid in a foreign country. if not paid, there is nothing to claim.
Thank you. 
 

Hi sathyajayapal,
Please refer to:
RDRM11150 - Residence : The SRT: Is the work full-time overseas
Thank you. 

Hi helptaxqueries,
The terms 'may' and 'shall' when applied to double taxation agreements, convey two meanings.
'May' is used to allow more than one option, such as 'may be taxable', depending on a set of conditions.
'Shall' is stating an intent, based on the article it relates to, e.g. 'This Convention shall apply to persons who are residents of one or both of the Contracting States'.  
The UK / Luxembourg double taxation agreement states residents of Luxembourg, who have a non government UK private pension, are only taxable on that pension in Luxembourg.
Paragraph 2 of article 18, states that residents of Luxembourg, who have a UK State Pension, are taxable on that pension in the UK, unless they are a national and resident of Luxembourg, in which case it is taxable in Luxembourg.
Thank you. 

 

Hi DEB164,
No, as you can transfer the shares at any time.
Thank you. 


 

Hi Hexham78 Retired
Sorry, but HMRC cannot comment on your residence status as that is for you to determine based on the guidance available.
With regards to criteria for a tax return, please refer to:
Self Assessment tax returns
Thank you. 

Hi Mark Arnold,
There is a Capital G Taxains calculator here:
Tax when you sell your home
One of the questions in the calculator will ask if you are claiming Capital Gains Tax losses from tax years before 2023 to 2024 that you have already reported to HMRC. You will need to enter the losses in this box, even if they occured in 2023 to 2024.  
When completing the Gapital Gains Tax online form, there will be a section for in-year losses.  
The losses would be declared there.
Please note that you have 60 days from the completion date to report and pay any Capital Gains Tax.
Thank you. 

 

Hi sostupid,
This would suggest that you have access to any interest on an annual basis and should therefore be reported annually:
SAIM2400 - Interest: taxation of interest: the tax charge
Thank you. 

Hi morabi,
Please contact our tax helpline on 0300 200 3300 for your  tax record to be updated.
Thank you. 

Hi sathyajayapal,
If you qualify for split year then you only report any foreign income for the UK part of the year:
Residence, Domicile and Remittance Basis Manual
If you do not qualify then you will need to report all your foreign income to the UK:
Tax on foreign income  
The guidance at RDRM12150 at www.gov.uk will help you work out if split year treatment applies. 
Thank you. 

 

Hi 
Yes, on maturity of the policy, you will receive a chargeable event certificate.
If the gain is more than £10,000.00, you will need to declare the gain in a Self Assessment Tax return.
If the gain is less, you will need to send the certificate to HM Revenue and Customs.
Thank you.