HMRC Admin 25
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RE: Dividend from Romanian company & Double taxation
Hi DDursley,
You can claim Foreign Tax Credit Relief in your tax return.
You can amend your online tax return by logging into your personal tax account.
If you are ensure that all income and dividends are included in the tax return, you then go to the calculation and note how much UK tax is being charged on your dividends.
Next take a note of your gross Romanian dividend and work out 15% of that value.
This is maximum Foreign Tax Credit you can claim.
If the UK tax is more than this amount, you claim the maximum.
If the UK dividend tax is less than the maximum calcuated, then you claim the amount needed to cover the UK dividend tax.
You enter this in the FTCR section and resubmit.
Alternatively, you can have my colleagues work this out for you by contacting the Self Asessment helpline here:
Self Assessment: general enquiries
Thank you.
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RE: Selling online - used and new items
Hi Rokee99,
If you are disposing of personal possessions, then this falls under the rules for Capital Gains Tax.
Have a look at the guidance here:
Capital Gains Tax on personal possessions
It is only when capital gains disposal exceed your annual exempt allowance of £3000, that you would be required to declare the gains.
If you are buying stock to sell, then you are trading and if the gross turnover exceeds £1000 in a tax year, you need to register as self employed and complete a tax return.
What a sole trader is
Thank you. -
RE: Claiming SEIS tax relief
Hi Diadikos,
Please contact our Self Assesment helpline to progress chase your claim.
Self Assessment: general enquiries
Thank you. -
RE: Cash Isa to Shares ISA - would like to shelter existing non isa shareholdings
Hi Tessa,
You can move the contents of a cash ISA into a stocks and shares ISA without losing any of your £20000 allowance.
Have a look at the guidance here:
Individual Savings Accounts (ISAs)
Thank you.
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RE: Tax on "tax free pension lump sum" when tax resident in EU country
Hi David,
Article 17(2) of the UK / Croatia tax treaty covers pensions
2015 Croatia/UK double taxation agreement
Confirms that a lump sum payment from UK pension scheme, is only taxable in the UK.
As this is still a UK pension provider, you would still qualify for 25% tax free lump sum.
This will be something your pension provider can explain in more detail.
Thank you. -
RE: Pension Carry Over Question
Hi Duncan,
Yes.
As long as the gross payments into the pension scheme to not exceed the revised threshold, then there is no tax implications.
Thank you. -
RE: Errors in new IHT forms
Hi David,
Please have a look at:
Tell HMRC that Inheritance Tax is due on a gift or trust (IHT100)
Or contact the Inheritance tax helpline:
Inheritance Tax: general enquiries
As you may be using the wrong form.
Thank you. -
RE: Tax on trading CFDs
Hi stockstunna,
You have to make the decision as to which is appropriate to your circumstances.
We can only give you advice to allow you to make the decision yourself.
Thank you. -
RE: Double Tax, UK tax code not changed yet
Hi Paul,
You will need to contact our Self Assessment helpline to progress chase this matter.
Self Assessment: general enquiries
Thank you.
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RE: Definition of "Foreign Earnings"
Hi WL0815,
For an answer to this question, you would need to seek professional advice from the likes of an accountant, as we can only provide general information.
Thank you.