I came to the UK on 29 Jun 2022. I have a pension under the Occupational Retirement Scheme Ordinance from my previous employer in Hong Kong which was reimbursed to me in early July 2022 after I arrived the UK.
According to the UK/HONG KONG DOUBLE TAXATION AGREEMENT it advises that:
"Pensions and other similar remuneration (including a lump sum payment) arising in a Contracting Party and paid to a resident of the other Contracting Party in consideration of past employment or self-employment and social security pensions shall be taxable only in the first-mentioned Party."
In this case, I do not need to declare the lump sum payment of my pension reimbursed from my previous employer in the self-assessment return for the tax year 2022 - 2023 since it is arising from past employment in Hong Kong before I arrived the UK.
Please advise if my understanding is correct.
Thank you for your clarification.
For the stock that was sold in Hong Kong during tax year 2022/23, I did not receive any gain from selling it (i.e. I recorded a loss when selling the stock), do I still need to declare in the tax return?
Thank you for your help.
I came to the UK on 29 Jun 2022. I have some questions about whether I need to submission self-assessment return for the tax year 2022/2023:
1. I have earned salary during 5 Apr 2022 to 8 Jun 2022 in Hong Kong before I came to the UK on 29 Jun 2022. As I was not a UK resident in 2021/2022 and I only started to have a UK home on 1 July 2022, I should meet the criteria of split year treatment and my UK residency counted on 1 July 2022 (i.e. the day when I have a UK home). Thus, I don’t need to report the salary of non-UK resident part (i.e. the salary I’ve earned in Hong Kong from 5 Apr 2022 to 8 Jun 2022) in the self-assessment return. Please confirm if my understanding is correct.
2. I have earned saving interest in my Hong Kong bank accounts (i.e. interest earned outside UK) which is less than GBP200 in the tax year 2022/2023, do I need to report in the self-assessment tax return?
3. I also have earned saving interest in my UK bank accounts (i.e. interest earned in UK) around GBP300 in the tax year 2022/2023, do I need to report in the self-assessment tax return.
4. I have sold my stock in the tax year 2022/2023 which has no capital gain, do I need to report in the self-assessment tax return?
5. I have pension (Mandatory Provident Fund) from my previous employment in Hong Kong and have bought some life insurances. All of them have not yet paid to me (i.e. I do not receive any payment from these), do I need to report in the self-assessment tax return?
Many thanks for your help.