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  • RE: Self assessment

    Thanks for your reply on the foreign income tax part. How about the CGT? Does it required to do the filing? As both the income and the profit are below respective allowance, is it correct that there should be no tax payable? Please advise.
  • Self assessment

    Dear HMRC, For the tax year 2021-22, I only have the gains on a number of stock holdings and transactions below. 1. Foreign/overseas dividends of £7,000.- equivalent, and 2. foreign/overseas net profit of £8,000.- equivalent from stock investment. The calculation is based on the guidelines and exchange rates from relevant HMRC websites. There is no other income in the UK or from overseas. The total income, basically foreign dividends, is below personal allowance. And that, the net profit from stock investment is also below the CGT allowance. Does it require to file a Self Assessment with HMRC for the tax year 2021-22? Kindly advise. Thank you.
  • RE: Self assessement

    Hi HMRC, If the total income inclusive of the foreign dividend income is less than the personal allowance of GBP12,500, does it require to file a self assessment? Kindly advise. Thank you.
  • RE: Money transfer

    Hello, I am just arrived at the UK. I am arranging to move money from my overseas accounts to the UK. Part of the money moving in will be used towards the purchase of a residential house for my son in the UK. He is currently a non-resident and will be a tax-resident in the year 2021-2022. Need my son or I pay UK tax for the money transfer? Does it require for any declaration of the transfer to the HMRC? Will there be any difference if the money transfer between our accounts (UK accounts) occur before and after financial year cut-off of 5April2021? Thank you.