HMRC Admin 8 Response

Hi,
Please refer to guidance at:
Gains on foreign life insurance policies (Self Assessment helpsheet HS321)
Thankyou.

Hi,
That is correct.
Thankyou.

Hi,
This should be reported under the employment income section of the return.
Thankyou.

Hi,
Your total taxable income is what is taken into account so this can be earnings, company benefits interest and dividends.
If your income is over £100,000 your personal allowances are then reduced:
Income Tax rates and Personal Allowances
 

Hi,
Yes, the personal savings allowances applies to the total interest from UK and abroad. the foreign interest should be declared on the foreign section of the tax return.
Non reporting funds are treated as 'offshore income gains' and are subject to income tax and not capital gains tax.  
The gains should be entered in box 41 of SA106 and in the box marked "Other overseas income and gains" on the online return.  As it is not a capital
gain. tick no
Thankyou.

Hi,
As UK resident you need to declare your worldwide income.
You can claim foreign tax credit relief for the US tax to reduce your UK bill. see further guidance at:
Tax on foreign income
Thankyou.

Hi,
Mortgage interest is an allowable expense against non-residential rental income as it is with a UK rental business.
However, this should be set against any rental profits in the year those profits arose.
Further information is available at:
PIM2052
Thankyou.

Hi,
If the rental property in question is jointly owned by a husband/wife or civil partners then the default method for dividing the rental income is 50/50.I
If you require a different percentage split then you will be required to complete a Form 17 and obtain a Deed of Trust in respect of the property.
If the property is  just jointly owned by any other person then  the percentage split of the rental income does not require a Form 17/Deed of Trust.
Thankyou.

Hi,
We can confirm that a Deed of Assignment would be accepted by HMRC.
Thankyou.

Hi,
As you have stated if the income you receive from a FHL is above £85000 in a year then would need to register and pay VAT.
You would still declare the actual income from the FHL within the UK Property pages of the self assessment tax return.
Thankyou.