HMRC Admin 17 Response
Joined: 1/20/2021
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RE: Money transfer
Hi,
If the moeny being transferred is a gift then you may be liable to tax on interest that it generates.
If the money is from a rental propery, you need to declare this :
Examples of how to work out Income Tax when you rent out a property .
Thank you. -
RE: BNO
Hi
v_chan,
You need to declare the whole amount received.
On the return it asks you for the number of years the policy was held for and the system apportions this for you where applicable .
Thank you. -
RE: UK Tax on Australian Superannuation
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RE: BNO
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RE: BNO
Hi
v_chan,
You will be entitled to a refund if your total income is below the personal allowance.
From the information given, to claim this you will need to submit a self assessment tax return as you have foreign dividends to declare.
Anything over £300 for foreign dividneds needs to be on a tax return.
The gain only needs to be declared if the actual sale was over £49200.
Further infomation can be found at :
Self Assessment: detailed information .
Thank you. -
RE: Cash gift from parents outside UK
Hi,
There are no income tax implications on cash gifts from family.
You are not required to declare this as income.
However please also enquire with the Inheritance Tax office incase this is subject to inheritance tax in the future - :
Inheritance Tax: general enquiries .
Thank you. -
RE: Cash gift from parents outside UK
Hi,
You will not pay tax on the cash gift however you will be liable to report any interest that may arise from your bank account.
Thank you. -
RE: Foreign interest and dividends
Hi,
The Foreign interest and dividends should be included on the SA106 on page F2.
Thank you. -
RE: Certificate of Residence for tax purposes
Hi,
Yes this is the same process, you apply via the same link.
If you have been resident in the UK from 2016 you can request this date on the application.
Thank you. -
RE: Zero rate of VAT for solar panel products
Hi.
The Zero rating for energy saving materials involves the supply/installation of energy saving goods.
If solar panels are only supplied then the liability will be 20% but if they are supplied and installed then the liability would be
zero rated for both the goods and the installation of the goods.
Please see the guidance below:
Energy-saving materials and heating equipment (VAT Notice 708/6) .
Thank you.