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Split year treatment - Foreign income
Dear HMRC Department, I am currently completing my first tax year in the UK and would appreciate your guidance on which forms I need to submit. I arrived in the UK in September and have been working remotely for a company based in Hong Kong. I have not transferred any income from Hong Kong to support my living expenses in the UK. From my understanding, I believe I qualify for split-year treatment. Could you please confirm if I should complete forms SA100 and SA109? Additionally, is SA106 required in my case? Otherwise, please correct me. Thank you for your assistance. -
lossing money on oversea oroperty invesment
Dear Sir/Madam, I would like to enquire that I purchased an overseas property a few years ago and renting it out (I have paid tax to HMRC and have done self-assessment every year). However, I sold this property last month and the price has decreased since I purchased it,so I lost money on this property investment(after currency exchange). In this case, will I need to do self assessment and pay tax? BR Carter -
RE: only property rental income and mortgage fee
Hi Sir/Madam, I have a problems about employee income(PAYE) and foreigner income. I have a jobs in the UK and the tax code is 1257, and I also have an apartment to rent it out in oversea(foreigner income), I’ve done the self assessment as well, and HMRC also set 1257 tax code for my foreigner income. So if it the personal allowance is calculate together and subtracted by total income? Or separately? For example: A: PAYE income: 20,000 Foreigner income:20,000 (20,000+20,000-12,570)*0.2=5,486 Or B: (20,000-12,570)*0.2=1,486 (20,000-12,570)*0.2=1,486 Which one is correct? -
only property rental income and mortgage fee
I am a UK tax resident who owns my only property in Hong Kong(it was not "buy to let" property). I rented it out when I moved to the UK last year, but I still pay the mortgage fee for this property every month. In this case, can I subtract the mortgage fee from my taxable profits? -
RE: income tax problem
Hi Catherine, My company HR mention that they cannot see any notifications from HMRC to put me onto a more standard tax code, so in this case i need to contact HRMC to update my tax code? Or does everybody working(under PAYE system) in the UK can get the personal income tax allowance or it is just for the UK citizen? -
RE: income tax problem
Hi Catherine, Thank you for your reply. I can’t find any 1257L in my payslip, I just saw my tax code is BR0 , so in this case my company will do the refund for me? -
income tax problem
Hi Sir/Madam, Since this is my first year working in the UK (starting in August-2022), I would like to know if the PAYE system automatically calculates the allowance(0 to £12,570) for a person? According to my payslip, the PAYE system deducts my income directly without calculating allowances, or do i need to apply refund myself? Thank you in advance for your reply. BR