HMRC Admin 26

Hi,

Ths sounds more like capital allowances for when you are self employed.

Please refer to:

HS252 Capital allowances and balancing charges 2021

Thank you.

Hi,

If not earned in the 21/22 tax year then no. He would only need to declare any interest that it generated in the UK.

Thank you.

Hi,

Yes, you need to register for self assessment and complete a return to declare the income since 01/01/22. If you wish to apply for split year you need the SA109 along with the SA100 and SA105.

Thank you.

Hi,

You may class it as a gift to your brother but as it is from the disposal proceeds, as previoulsy advised, you are still liable on the gain with the 30k included.

Thank you.

Hi,

If claimed incorrectly, then you are correct in putting it at TR5. It should not be included within the income received and therefore will not be included as taxable income for tax to be deducted. It is added at the end of the calculation for an overall underpayment and then the charge will show on the self assessment statement.

Thank you.

Hi,

As the bonus is related to employment in Hong Kong, under the Double TaxAtion Agreement it is not taxable in the UK and does not need to be declared here.

Thank you.

Hi,

If it is foreign income you still need to send the tax return SA100 and SA106.

Thank you.

Hi,

You will be contacted in due course regarding the amounts earned, as one will now need to be classed as taxable interest.

Thank you.

Hi,

No. The SA interest is only applied to payments you have made for tax, and the tax is then reduced. This is currently sitting at 0.5 %.

Thank you.

Hi,

No, as nothing has been sold. They would normally include this with your pay.

Thank you.