crowman

Thanks, but I'm not looking for specific advice tailored to my individual circumstance. Just trying to understand how HMRC/DWP came to the figure that was pre-populated on my SA online form. Because no-one seems to know. Including HMRC. I've done some more thinking. Maybe DWP work on a weekly basis only (and don't account for individual days), because the figure that was populated was exactly 28 weeks of payments from my 66th birthday. Even though the end of 28th week was April 7th. My birthday was on a Monday - don't know if that's significant. Maybe DWP's week starts on a Monday. Surely, my "entitled amount" should only go as far as April 5th. If that's the case, then the figure populated by HMRC is 2 days too much. That amounts to £46. Small potatoes, I know, but I still contend that it's not correct.

I started receiving my state pension in the 23-24 tax year. I've just completed my self-assessment online for that year. I had initially misunderstood the amount to enter for state pension received, thinking it should be the amount received rather the the amount "entitled". The amount pre-filled in the online form was £230 more than I'd actually received so I've been trying to work out where that amount comes from. Since I received £23 a day for that tax year the sums are easy. HMRC/DWP are suggesting that I was entitled to an extra 10 days of pension over and above what I actually received. Now, my last payment in the tax year was Thursday 28th March. An extra 10 days' worth of pension on top of that takes me up to and including Sunday April 7th 2024. Intriguingly, the state pension was uplifted on Monday April 8th (the first Monday on or after April 6th). So, it appears that the figure HMRC receive from DWP is the entitlement up until the day before the uplift. I contend that the entitled amount should be calculated up to and including April 5th. By my reckoning that's an extra 8 days after the last payment on March 28th. Which amounts to an extra 8 x £23 = £184. So, I hereby claim that the HMRC/DWP figure is wrong by £46 in their favour. I foolishly accepted the proposed HMRC figure when submitting my return, to save me having to explain why I think they are wrong. But I am minded to correct it and explain why I believe their figure is incorrect. Prove me wrong, people!

I've seen various advice on this forum regarding the taxation of withdrawals form a traditional IRA. It's always been my understanding, from the DTA, that periodic withdrawals are taxed in the country of residence - that's the UK for me. It's also been my understanding, from the DTA, that lump sum withdrawals are taxed in the USA. Recently, I've seen advice that both types of withdrawal are taxed in the UK. Can you point me to where in the DTA, or any other document, this is defined?

I have a Rollover IRA in the USA. I have listed my wife as beneficiary, or in the event she dies before me, equally between my two sons. My understanding is that on my death it will become an Inherited IRA and will need to be disbursed within 10 years. Can you confirm that there is no IHT when the IRA passes to my beneficiary/beneficiaries, but they will be liable for UK tax on any subsequent periodic withdrawals they make.