HMRC Admin 25
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RE: Forex trading - how to fill in tax return 2023/24
Hi nsdc C,
A Self assessment tax return is required.
As long as you have any overseas income or capital gains, then you will meet the criteria for completing a tax return, in which you will dedclare your world-wide income and capital gains.
Thank you.
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RE: How to calculate CGT on property bought in Cyprus Pounds and then sold in Euros
Hi rattypate,
There are websites on the internet that can provide you with historical exchange rates to/from cypriot pounds to UK pounds sterling.
You could try searching the likes of "historic exchange rates for 1986".
The National Archives only go back as far as 1989.
Exchange rates from HMRC in CSV and XML format
Thank you. -
RE: UK pension from abroad
Hi maymaizy,
It can take up to 8 weeks from making your payment of voluntary National Insurance contributions to it being shown on your Personal Tax Account. You may wish to call our National Insurance Helpline
National Insurance: general enquiries
They will check your payment and arrange for it to be allocated.
It might be helpful if you had your payment details handy when you called just in case they are needed.
Thank you.
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RE: Confused as to HMRC calculations for voluntary class 2 and 3 shortfalls
Hi eod,
To be entitled to pay voluntary Class 2 National Insurance contributions whilst overseas, an individual must have been normally employed or self-employed in the UK before their departure and employed or self-employed overseas.
From the details that you’ve given it would appear that our International Team has not calculated the amount of voluntary lass 2 contributions correctly and they will need to look at this again.
If you could send them a letter to confirm your periods of employment/self-employment again and ask then to revisit their calculations.
Sorry for any inconvenience.
Thank you.
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RE: Awaiting confirmation of accepted bank draft payment for National Insurance gap years.
Hi Nigel007,
We are sorry that your payment of voluntary contributions has not been allocated to your National Insurance account yet.
If you could call our National Insurance Helpline on +44 191 2037010 then they will be able to arrange for it to be dealt with.
National Insurance: general enquiries
If you could have your payment details with you when you call this might be helpful.
Thank you.
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RE: Pension Lump sump allowance
Hi cwatkins,
Please have a look at the guidance here:
Find out the rules about Individual Lump Sum Allowances
Thank you. -
RE: Contributing to UK ISA after moving abroad
Hi Skippiemcgee,
Please have a look at the guidance here:
Individual Savings Accounts (ISAs)
Thank you. -
RE: Change from single to joint ownership
Hi RNW,
As there is no Capital Gains Tax liability arising from the transfer of assets between a husband and wife or civil partners, your wife received a 50% share in the property at the value you inherited it at.
This means that should you ever sell the property, both of you have an acquisition cost using the value at the time you inherited it.
Thank you. -
RE: Temporary car in Transfer of Residence
Hi Lea,
One of the condition for TOR relief is you must have had the goods in your possession for at least 6 months prior to the date of importation.
Who can claim relief
You can usually use a vehicle with foreign number plates without registering or taxing it in the UK if all of the following apply:
• you’re visiting and do not plan to live here
• the vehicle is registered and taxed in its home country
• you only use the vehicle for up to 6 months in total - this can be a single visit, or several shorter visits over 12 months
You will need to register your vehicle if you want to move it between Great Britain (England, Scotland and Wales) and Northern Ireland. More information below:
Importing vehicles into the UK
Thank you.
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RE: What is required to be "established" for customs purposes?
Hi thomas,
A business needs to be established in the UK to meet a number of customs rules.
The guidance clearly states what establishment means, a company is established in the UK if it is incorporated at Companies House and you have a permanent place in the UK where you carry out business activities.
The guidance of getting an EORI number to carry out imports/export also states your business usually needs to have premises based in the country you want to import to or export from - this is called ‘being established’.
Your premises needs to be one of the following:
• a registered office
• a central headquarters
• a permanent business establishment - premises where some of your customs-related activities take place and your HR and technical resources are permanently located
Thank you.