HMRC Admin 8 Response
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Re: Capital Gains and Income tax personal allowance
Hi,
You cannot use your personal allowances against CGT so anything above the £6000 annual allowance (23/24) would remain liable to tax.
You would have the benefit of all the basic rate band so that any gains would be taxed at either 10% or 18% up to £37700 and the higher rates thereafter.
Thank you. -
Re: RE: Overseas Remote employee for a UK based employer
Hi Molly Civaai,
As you plan on being an Italian resident, your income will be declared to the Italian authorities.
Which bank the funds are paid into is up to you.
Thank you. -
Re: Tax on Austealian superannuation
Hi,
Article 17 for the UK/Australia double taxation agreement, relates to pensions, but it does not mention lump sum payments in any way.
This means lump sum payments are not covered by the agreement:
UK/ AUSTRALIA DOUBLE TAXATION CONVENTION
As they are not covered by the agreement, it means the lump sum payment from the Australian Superannuation Fund, is taxable in both Australia and the UK.
To avoid double taxation, you can claim a foreign tax credit relief in the foreign section of a self assessment tax return, for up to 100% of the tax paid in Australia, so that you do not pay tax twice on the lump sum.
Thank you.