HMRC Admin 21 Response
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Re:Guernsey Company Prospectus says no income tax on dividends due to credit?
Hi shamusj909,
The double taxation treaty between the UK and Guernsey, does not include provisions relieving diviends, interest or royalties. https://assets.publishing.service.gov.uk/media/5c470999ed915d38b0437c54/2018_Guernsey-UK_Double_Taxation_Agreement_in_force.pdf. This means that no relief can be claimed for tax paid in Guernsey.
Thank you. -
Re:Transferring Savings from another country
Hi a_s1302,
As long as your savings were earned while not resident in the UK, they will be treated as capital and will not be subject to any tax, when transferred to the UK.
Thank you. -
Re:NHS pension contributions
Hi NotSure44,
You would only include the payments made in the tax year.
Thank you. -
Re:Signed up to pay Self Assessment tax bill through PAYE but still fined for late payment?
Hi GrumpyTaxpayer,
Please refer to the following guidance - Pay your Self Assessment tax bill.
Thank you. -
Re:Ebay Please help Me Understand Rules
Hi robert78,
We can only provide general information / guidance on this forum. For an answer to a detailed question of this nature, you would need to contact our self assesment helpline on 0300 200 3310, contact our webchat facility at Contact HMRC or seek professional advice.
Thank you. -
Re:When to do Self Assessment tax return forms, and how to transition from employed to self employ
Hi Iain.Wang,
A self assessment tax return is used to declare an individual's entire world wide income and capital gains in a tax year. In the tax year ended 5 April 2024, you would have employment income, as shown on your P45. You will also have self employment income and expenses. On a paper tax return, you would complete SA102 (employment) and SA103 (self employment) as well as any other self assessment supplementary page that is appropriate. If you have not registered for self assessment, you should do so, as self employer/sole trader (Set up as self-employed (a 'sole trader'): step by step).
Thank you. -
Re:Using a cash gift to buy property. IHT Implications if property value increases.
Hi LittlEbear10 Bee,
How the property was acquired, is not a factor in calculating capital gains tax on the disposal of a property, so it does not matter whether you paid for it with cash gift of through savings or a mortgage and so on. Capital gains will look at the acquisition cost (how much you paid for it) and the expenses incurred in acquiring the property (solicitor, estate agent even auctioneers fees etc). The total of these costs are deducted from the disposal value, as well as the costs incurred disposing of the property. Whatever remains is either a capital gain or a capital loss.
Have a look at Helpsheet HS283 (HS283 Private Residence Relief (2023) on guidance for private residence relief. There is also a capital gains calculator at Tax when you sell property, to help you work out if there is a gains and how much it is. You can save the calculation as a pdf file for your records and click next to register for a capital gains account, so that you can report and pay your capital gain onine, within 60 days of the completion date.
Thank you. -
Re:How to pay tax for a part-time remote job in Ireland while employed in the UK as PAYE
Hi Medallion Pond,
If you take up the opportunity of this self employment, based in Ireland, your self employment income from this job, will be considered foreign self employment income. If you will be freelance/self employed/sole trader, you will need to register for self assessment as self employed, so that National Insurance can be calculated on your profits, where payable.
You can register for self assessment as self employed at Set up as self-employed (a 'sole trader'): step by step.
Thank you.