HMRC Admin 33
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RE: Income tax on the Gifts
Hi,
We can confirm that there are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Thank you.
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RE: Tax by cash gift
Hi,
We can confirm that there are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Thank you. -
RE: CGT on UK property payment details
Hi,
Yes, this is correct. Please see all the link below for more options to pay
Report and pay your Capital Gains Tax: Ways to pay
Thank you. -
RE: Capital Gains Tax and Declaration of Trust rental income
Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You may wish to contact our team for advice
Self Assessment: general enquiries
Alternatively you may want to seek professional advice.
Thank you.
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RE: Foreign interest and dividends
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RE: Foreign interest and dividends
Hi,
Use the ‘foreign’ section of the tax return to record your overseas income or gains.
Include income that’s already been taxed abroad to get Foreign Tax Credit Relief, if you’re eligible.
HM Revenue and Customs (HMRC) has guidance on how to report your foreign income or gains in your tax return in ‘Foreign notes’.
Thank you. -
RE: I received a cheque but have no ways of cashing it in
Hi,
As you are no longer in the UK there are various options to cash the cheque. You can post the cheque to your UK bank with a paying-in slip or present your cheque by taking a photograph, if you have a mobile app for your UK bank account. If the cheque cannot be submitted via your online banking you can ask your overseas bank if they can cash the cheque - you may have to pay the bank a fee. We can send a replacement cheque to a nominee, who you appoint and who has a UK bank account.
Contact us by webchat or phone here:
Income Tax: general enquiries
To allow us to do this.
Thank you
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RE: CGT on property in Channel Islands
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RE: Transferring personal money to UK
Hi,
There are no tax implications for transferring savings to a UK bank account unless they generate interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
Thank you. -
RE: CGT after buying new property before selling old one
Hi,
Please see HS283 Private Residence Relief (2023).
Please note you will receive PRR for the period you lived in the property plus the final 9 months.
If you actually live in the property in any of the final 9 months this is already included as part of the initial PRR and you cannot claim it again.
Thank you