siusiuhak
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Double Taxation Agreement Hong Kong
Hi, Before coming to UK, I was never resident of UK. I came to UK in Nov 2022 with BNO visa. I was still employed by Hong Kong employer and work from home in UK until end of tax year 22/23. My employer is a Hong Kong company with no connection in UK. According to UK/HK double taxable agreement Article 14 Section 2, does that mean I only need to pay the tax on Hong Kong but not UK? Or should I pay Hong Kong tax and claim relief from UK tax? What form should I fill to report this scenario? Thanks -
Capital tax foreign currency exchange
Hi, I am from Hong Kong with BNO visa and arrived UK and became resident in November 2022. I check and split year treatment should apply to my situation. Well before I became resident in Nov 22, I exchanged some Australian and Japanese currency in my bank account. After I became resident, I changed the currency back into Hong Kong Dollar and then convert them into GBP so that I could transfer to UK. Do I still subject to capital tax by converting Australian and Japanese currency into Hong Kong Dollar? If the answer is yes, actually this exchange led to a loss, not a gain. May I use this loss to deduct the capital gain I got in selling stock? Thanks. -
split year treatment bonus
Hi, I was never UK resident and arrived UK on 10 Nov 2022 by BNO visa and become UK resident. After checking, split year treatment is applicable to me. I was still working for the same employer, Hong Kong company, before and after I arrived UK during the whole tax year 2022/2023. In UK I work at home. I have the following enquiries. 1) I was entitled to a bonus payment for the period of 1 Apr 22- 31 Mar 23 and received it at end of March 2023. Can this bonus payment be treated also with split year treatment and split it into 2 parts, non-UK(HK, not subject to UK tax) and UK( subject to UK tax)? 2) According to double taxation agreement with Hong Kong, my salary from 10 Nov 22 to 6 Apr 23 is subject to UK tax. But my whole year salary is subject to Hong Kong tax. Is it correct that I can claim tax relief on the part of salary during my stay in UK? Thanks.