HMRC Admin 21 Response

Hi ipmuimui,
If neither party is not charging rent then there is no tax implication at this time. for Inheritance tax purposes, you would need to call 0300 123 1072 and check with the IHT deaprtment.
Thank you.

Hi Bunty,
If your foreign income is derived solely from foreign dividends and the combined sum of UK and foreign dividends is below the threshold for the tax year and no other self assessment criteria apply, then you do not need to complete a tax return.  By 'you have no other income to report' it is meant to mean foreign income.
Thank you.

Hi Glaw5,
If you do not have evidence to support, you cannot claim expenses as evidence may be asked for at a later date.
Thank you.

Hi Peter Fletcher,
You need to report it so that HMRC are aware that a loss is in fact available that you can then use at a later date.
Thank you.

Hi Joe Clark,
As UK tax resident and domicile you are liable on your worldwide income whether you transfer it to the UK or not. It would be considered a pension withdrawal. see guidance at Check if you’ve gone above the money purchase annual allowance.
Thank you.

Hi Rhyviney,
Yes it needs to be reported. it may be seen as a trade and therefore covered by personal allowances or if not trading then it is capital gains and the annual exempt amount for 23/24 is £6000. you cannot use a previous years allowances . further guidance is atCryptoassets Manual and associated links.
Thank you.

Hi WAI HOU LEE,
US government bonds, sometimes known as T-bills or treasury bills are generally taxed as income rather than capital gains.  The return is paid at maturity rather than regular interest payments.  In the UK, these are known as deeply discounted securities, with the discount being the difference between the price at which they were issued and the price received at maturity.  On a foreign investment the income is the difference between the purchase and redemption price after each has been converted to sterling on the day the transactions took place, so includes any foreign exchange gains.  Losses cannot be deducted. 
Have a look at Savings and Investment Manual for more information.
Thank you.
 

Hi MatildaJarvis Timewell,
There is no legislative definition of a Lump Sum but HMRC regards these as being any non-periodic payment of a pension - That is, any non-regular payment that decreases the value of the remaining pension pot after such payment is made. For example, the first (IRA) withdrawal is taken in year 1, the next withdrawal was made in year 5, and another withdrawal in year 7; such payments will not be regarded as periodic and will be treated as Lump Sum’s under the UK/USA DTA. Whereas any amount withdrawn in set, periodic, frequent intervals (e.g. weekly, monthly, annually etc.) would not be a Lump Sum, but rather periodic payments. 
Article 17(2) of the UK/USA DTA provides the US with the right to tax any Lump Sum payment which is made from a US sourced pension scheme (including IRAs). However, the UK is also permitted to tax the same lump sum payment(s), which is in accordance with Article 1(4) of the DTA.
Thank you.

Hi AndreaC87.
Please refer to Tax on your UK income if you live abroad.
Thank you.

Hi RJ9129,
The employees name will be used to ensure the RTI information is attached to the correct payroll record, so the name would have to be the same as the name we hold officially. You can internally hold a different name.
Thank you.