HMRC Admin 10 Response

Hi
You will declare the income as self employment and then also show it on the foreign section in order to claim foreign tax credit relief. The income must be declared in sterling.

Hi
No. You declare the £3600 as turnover from self employment and then claim the trading allowance of £1000. you cannot claim any other expenses for your self employment if you claim the trading allowance.

Hi
If the share account is managed/based in Hong Kong that it will just be the rate for Hong Kong that is used irrespective of where the shares were.

Hi
The tax return cancels out the P800 so the tax due will be on the self assessment figure.

Hi
As your turnover is over £1000 this is classed as self employed income and needs to be reported.This is not new rules and the only difference is that the selling sites are now obliged to report the details to HMRC. Therefore if your turnover is over this for any tax year, you need to report this on a self assessment tax return.