HMRC Admin 10 Response
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RE: Self assessment required?
Hi
As the CGT has already been reported, no. -
RE: Does same-day sale of vesting RSUs count towards total proceeds and trigger reporting?
Hi
If the vested shares are disposed of immediately on vesting, there is no capital gains tax liability; so it would not count towards the £50000 reporting threshold for capital gain. -
re Crypto Staking Income And Expenses
Hi
As this is interest, you cannot deduct any transaction fees. -
RE: Be both employed and self-employed at the same time
Hi
Yes. A self assessment tax return is used to declare your world-wide income in the tax year. For employment, you would complete SA102 or tick yes to employment when tailoring your tax return. For self employment, you would complete SA103 or tick yes to self employment when tailoring your tax return. In this way, both sources of income are declared, along with all other sources of income in the tax return. -
RE: Student Loans & Balancing Payments
Hi
The prime purpose of self assessment (SA) is the reporting and collection of income tax and capital gain tax. However, a self assessment tax return is used as a convenient medium to collect other payments, such as class 2 and class 4 National Insurance Contributions (NIC) and student loan payments. Payments on account are used to collect income and capital gains tax, not NIC or student loans, so they will not be included in the payments on account or balancing payment. Payments of NIC and student loans you make through SA, are passed from SA to the appropriate departments records. -
RE: Transferring personal money to UK
Hi
No.
You do not need to declare this transfer.
As a non UK tax resident, completing a self assessment tax return, you will only be declaring income and capital gains that arise in the UK, in the tax year the return relates to.
Foreign capital transferred to the UK, is not taxable, but any interest it generates in the UK, may be taxable. -
re Non resident Non citizen of UK earning in GBP - do i pay tax?
Hi
Provided that you undertake this work while resident in India, then it will only be taxable in India. If you perform the work while resident in the UK, you may be required to pay UK tax. Please have a look at article 15 (Independent personal services) of the tax treaty between the UK and India. It will advise you whether there is tax payable in the UK or not. -
RE: Sending money from abroad to UK account
Hi
As long as you were not tax resident in the UK in the tax years in which you earned this money, there will be no tax implications of bringing it to the UK.
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re NS&I Guaranteed Growth Bonds
Hi
We cannot comment on NS&I guidance or policy.