HMRC Admin 19 Response

Hi MAF-UK,

You would need to discuss this with our Income Tax team.

Income Tax: general enquiries

Thank you.

Hi lamplighter,

Article 17 of the UK/Australia double taxation agreement cover pensions and annuities.

UK/ Australia Double Taxation Convention

It advises that if you are resident in the UK, then you are taxable in the UK on the pension or annuity paid periodically at stated time over an ascertainable period of time. As there is no relief for a 'trivial commutation lump sum', lump sum payments from an Australian pension are taxable in Australia, but periodic payments are not.

Thank you. 
 

Hi Oldtim Hmrc,

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. You can see further guidance here:

Tax on savings interest

Tax on dividends

As this is a regular payment you amy however want to contact your bank to let them know and they may ask for further information.

Thank you.
 

Hi,

As the property being let is in the UK and under article 6 of the UK/Japan double taxation agreement, the income from this property is taxable in the United Kingdom.  

UK/Japan Double Taxation Convention

You are a non resident landlord and should be completing Self Aassessment tax returns each year. You can see more information here:

Check if you need to send a Self Assessment tax return

You may also have to pay tax on the property in Japan. If that is the case, you claim a tax credit for the tax paid in the UK and thus avoid double taxation.  

HMRC is currently running a let property campaign, allowing disclosure relating to the past tax years:

Let Property Campaign: your guide to making a disclosure

There are no Income Tax implications arising from the transfer of money to the UK.

Thank you.



 

Hi,

There are no Income Tax implications regarding gifts of cash to children.

There may however be Inheritance Tax implications. You can see more information here:                                                           

How Inheritance Tax works: thresholds, rules and allowances

Thank you.

Hi,

The guidance at DT4617 below, advises that, where a UK resident makes a lump sum withdrawal from an Registered Retirement Savings Plan (RRSP) or an Registered Retirement Income Funds (RRIF), Canada imposes a 25 per cent withholding tax. 

DT4617 - Double Taxation Relief Manual: Guidance by country: Canada: Withdrawals from Canadian RRSPs/RRIFs

No tax credit relief is allowable, which means that the full lump sum is taxable in both Canada and the UK. You can, however, claim Foreign Tax Credit Relief of up to 100% of the foreign tax deducted, against your UK tax liability.

Thank you.