HMRC Admin 32 Response

Hi,

Much will depend on the type of account you have. If you have access to withdraw any of the funds at any time, then the interest will be taxable in the year in which it arises. If you have an account where you cannot access the funds until the end of a set term, then the interest would be taxable at the end of the fixed term, when you can access the funds.

Thank you.

Hi Amit Vanjani,

Yes, as a UK tax resident you need to pay tax on your worldwide income.

Thank you.
 

Hi,

The remittance basis can be used where an individual is UK resident, but is not domiciled. If that persion chooses not to remit income arising outside the UK, while they are UK resident, then it is not taxable in the UK.  

If the income is remitted to the UK in a later tax year, it will be taxable in that tax year. The remittance basis rules change when someone has been resident in the UK for 7 or more of the preceeding 9 tax years.  The individual will lose their personal allowance / annual exempt allowance and be taxed on a fixed sum of £30000.00, plus their UK income and gains. The rules then change if the individual has been resident in the UK for 12 or more of the preceeding tax years. The individual will lose their personal allowance / annual exempt allowance and be taxed on a fixed sum of £60000.00, plus their UK income / gains.  

Finally, once a non domiciled person is resident in the UK for 16 years plus, they become 'deemed domiciled' and become subject to tax on their 'world-wide' income in the tax year that it arises. There are guidance noted on residence, domicile and remittance here.

Guidance note for residence, domicile and the remittance basis: RDR1

Thank you.

Hi,

You should enter the amount plus any basic rate tax relief that is given. You will need to check that the amounts are not deducted from your pay before tax, as there is no further relief due on these contributions.

Thank you.

Hi,

You would not be classed as UK tax resident if out for more than 183 days.

You can find further guidance at:

RDR3 Statutory Residence Test

Please also refer to:

Tax on your UK income if you live abroad

Thank you.

Hi,

What you actually do with the gift is up to you.

Thank you.

Hi JOHN Sheldon,

You will need to contact HMRC Self Assessment team to progress chase your return.  

Self Assessment: general enquiries

Thank you.

Hi CHI HO MAN,

There are no Income Tax implications on the receipt of a cash gift unless the income generates 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.

Hi,

If you earn over the tax allowance at your main job, you would pay tax on all the income from the second job.

Thank you.

Hi knowmore,

We are unable to confirm which option you must choose. Only you can do that. The information and links below might help you reach a decision on which option is appropriate to your circumstances.

There are no Income Tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax. Further guidance can be found here:

Tax on savings interest 

Tax on dividends

You will need to assess your residence and domicile situation. To do this, please review the guidance below and apply the tests at RDR3.

Residence, domicile and the remittance basis: RDR1

If you are resident and domiciled or deemed domicled in the UK, the you must declare all of your world-wide income each tax year you are resident in the UK, regardless of how much money is involved.    

If you are resident, but not domiciled in a tax year, and your foreign income in that tax year, is not remitted to the UK, then it is not taxable in that tax year. If, however, you bring that income into the UK in a later tax year, because you were resident in the UK when the income arose, you would be liable to tax on that income in the tax year you remit it to the UK.  If you never remit the income to the UK, it will never be taxable in the UK

Thank you.