HMRC Admin 26
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RE: Foreign income does not show in Tax Calculation
Hi,
Complete the PAYE employment page and where it asks for the reference, you can enter "foreign/abroad". You will show the income as the same amount you have declared on the foreign page but leave the "UK tax paid" box empty.
Thank you. -
Re: Applying Digital Nomad Scheme but still PAYE employee
Hi,
The P85 is still relevant as you will be out of the UK for a full tax year after the date you leave the UK. This will allow a code of NT (no tax) to be issued to your UK employer for your overseas period.
Thank you. -
Re: Redundancy payment
Hi,
The redundancy payment should be declared at additional information so you will need to tailor your return to include this if filing online.
Refer to guidance at:
Self Assessment: additional information (SA101)
Thank you. -
Re: Removal of name from property deeds
Hi,
Please refer to guidance at:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. -
Re: Foreign income not yet converted to sterling
Hi,
You still need to declare the income in the UK and it must be in sterling, even if not brought to the UK. Please see:
Tax on foreign income
and
Exchange rates from HMRC in CSV and XML format
Thank you. -
Re: Withdrawal fees for Crypto paid in Cryptoasset (allowable cost or taxable event?)
Hi,
Please refer to guidance here - Cryptoassets Manual - (Cryptoassets for individuals: Capital Gains Tax: Fees satisfied in tokens - HMRC internal manual - GOV.UK (www.gov.uk)).
Thank you. -
RE: Gift tax for cash gift from overseas
Hi NSH,
There are no income tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
and here:
Tax on dividends
Thank you. -
RE: US Prize Award for Competition
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RE: Annual allowance: Timing of pension salary sacrifice and employer contributions
Hi,
It is common for an employer to act as the collector of employee contributions for a group personal pension scheme.
Group administration processing can cause some delay between the employer deducting the contribution from the employee’s pay and the date that the pension provider is authorised to take money by direct debit from the employer’s bank account or the money is paid by BACS direct credit. For example, a delay may occur because individual figures need adjustment for part-timers or leavers.
When there is a delay after the deduction from the employee’s pay, the date of receipt by the pension provider is taken as the date of payment of the contribution. This could have a bearing when a contribution is deducted from the employee’s pay close to the end of a pension input period.
Thank you. -
RE: Work from home from abroad (EU)