HMRC Admin 21 Response
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RE: Not sure what to put for trading name
Hi Michael,
Yes you will need to show both.
Thank you. -
RE: First-time filer. Met residence test for YE April '24. Should start dates on SA1 be April 6/23?
Hi CanuckInLondon TaxAccounting,
As you have not stated the date you came to the UK it would be the date the UK income started.
Thank you. -
RE: Short Term Profit (within 6 months) from US Treasury Bill is Interest Income or Capital Gain
Hi Cain,
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 SAIM3010 - Deeply discounted securities: introduction for more information.
Thank you. -
RE: Insuring a gifted house
Hi Emily,
No as it is not a rental property.
Thank you. -
RE: Non UK Resident Tax on Remote Sole-Trader Work
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RE: Tax self assesment for self employed (less 1000) + employed (more than £45000
Hi francescapellicano,
As its under £1000, no.
Thank you. -
RE: Foreign Wages - How to Report on Self Assessment
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RE: money comes from overseas spouse
Hi PuiYing,
No as this would be seen as a gift.
Thank you.