HMRC Admin 10 Response

Hi.
You can contact HMRC on behalf of your colleagues.
However you would need to have an authority in place so that you can act for them and this would allow us to discuss and resolve the matter with you.
Please see the form below:
Authorise a tax agent (64-8)

Hi
The charge to income tax would be on the beneficial owner of the income arising from the overseas bond.
The beneficial owner may be different to the legal owner.
If the beneficial ownership of the income has been transferred from the daughter to the mother the daughter would not be chargeable to UK income tax on income arising from the overseas bond after the date of the deed.
If the mother is non-resident the mother would not be chargeable to UK tax on any income arising from the overseas bond.
There is further information on legal / beneficial ownership and their separation at TSEM9100 and TSEM9300.
There is a table showing the scope of liability to UK income tax on investment income at RDRM10440.

Hi
At this time of year, you will be allowed to download the for reference tax return and submit it before 31 October 2023.

Hi
If you have taken the income as part of a drawdown from your SIPP then this would be income received under other pensions.
For the rental income, you need to declare this under income from property.
Detail of what are allowable expenses is at -
Work out your rental income when you let property

Hi
Please refer to guidance at :
Deemed date of contributions

Hi
It depends on what is being sold.
If it is a UK property then no as this only needs reported if you actually have tax to pay.
Capital Gains Tax: what you pay it on, rates and allowances

Hi DXM
That is correct.
The capital will be tax free but any interest or dividends that this then generates will need to be declared.

Hi
HMRC should be informed of this so that the details are held for any future capital gains charges that may rise.
You would need to contact the land registry direct to see what details they required.

Hi
The individual would declare this as foreign income and pay the tax themselves and there would be no need for the company to set up a PAYE scheme.

Hi
You would need to contact the Immigration and Visa department that sent you the letter to ask them if they will accept that information.