HMRC Admin 10 Response
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RE: Self-assessment registration - SA1 Saving Interest Category
Hi
If you arrived after 06/04/22 put the date you arrived in the UK.
If before then, use 06/04/22. -
RE: Tax on German pension
Hi Gary Coombs
The guidance on the SA106 notes advise "If you have a pension that’s not taxable in the UK because of a DTA, give full details of the pension’s payer, pension and relevant DTA in the ‘Any other information’ box on your tax return".
The any other information is box 19, which can be found on page TR7 of SA100.
As you are in receipt of a foreign pension, you will always meet the critieria for completing a self assessment tax return, so this pension will need to be declared in box 19 every year. -
RE: Interest on savings in joint accounts
Hi
Interest arising in a foreign bank account, in a tax year that owners of the account were not resident in the UK, is not taxable in the UK.
As you became resident in the UK in 2016, it would be from that tax year, that the interest would be subject to UK.
As the account is not a joint account, only you would be taxable on the interest, as the beneficial owner of the account.
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RE: IRA tax treatment
Hi
IRA interest is definitely taxable in the UK and should be shown on a self assessment tax return every year, as foreign interest.
It is the interest that is taxable, not the balance, should you close the account. -
RE: IRA tax treatment
Hi
UK/US citizens resident in the UK are taxable on their IRA interest in the UK.
IRA's are treated differently from Roth IRA's, in that they are taxable in the UK under foreign interest.
The gross interest would be declared in the self assessment tax return, using the supplementary page SA106.
The interest would be treated in the same way as UK interest and attract that starting rate of £5000.00.
Have a look at :
Tax on savings interest
DT19852 implies that tax is not payable in the USA on this interest. -
RE: Ending a Buy to let mortgage 22-23
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RE: Second job tax
Hi Sameer Mhamunkar
The employee should contact HMRC after receiving the P45.
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RE: CGT realtime residential property allowanble expenses
Hi Rebecca Leff
No as this is not related to the actual sale of the property -
RE: Tax on German pension
Hi Jea7
As the German state pension is only taxable in Germany, you do not need to declare it in the UK -
RE: If no NINO and UK passport, how to apply for UTR and submit Self Assessment Tax Return
Hi
You can try again to setup the online account after the UTR has been generated however this wouldn't guarantee they would be able to pass the verification.
If they are still unable to pass the verification they will need to request a paper SA100 from HMRC.