HMRC Admin 10 Response

Hi Roman Korshunov

Foreign income and gains are only taxed in the UK when they, or amounts ‘in respect of’ or amounts ‘representing’ those income or gains, are ‘remitted’ to the UK.

If foreign income and gains remain offshore and are never regarded as remitted to the UK, the tax charge is effectively deferred indefinitely.

RDRM31030 - Residence, Domicile and Remittance Basis Manual - HMRC internal manual - GOV.UK (www.gov.uk).  

If this is income that has already been remitted/declared to the UK in the past and you are simply transfering to a UK account now then there is no additional tax charge on the transfer. 

Thankyou.

Regards.

Hi

2021 to 2022: Employer further guide to PAYE and National Insurance contributions

Please see 4.6.6 Coding for payroll purposes for non-resident employees who have never been resident in the UK.

You may need to provide a code number in the paying system.

Code ‘NT’ may be used where a business in the UK (or the UK branch or office of an overseas business) employs someone who’s non-resident, and the employee:

is working wholly outside the UK

has not been resident in the UK before

employee does not intend to and will not perform any duties in the UK

A full payment submission (FPS) is not required and there’s no liability for National Insurance contributions.

If the residency position of the employee or the place the duties are performed change so that the employee becomes liable to UK tax, you should immediately stop using code NT.

It appears if all criteria is met your employer can operate without HMRC instruction.

Thankyou.

Regards.

Hi FabGio g

Please see the following guidance which will help answer your questions relating to your specific circumstances :

Tax on foreign income

and

The SRT: Split year treatment: When will split year treatment apply

With regards to your pension contributions.

Thankyou.

Regards.

Hi

Yes this would be correct also. 

Thankyou.

Regards.

Hi keikoo

You would still be entitled to your personal allowance for the UK part of the year against any of your income for that part. 

Thankyou.

Regards.

Hi

This will depend on whether this is seen as cashing in a bond which creates a chargeable event.

You may wish to check guidance here :

Gains on foreign life insurance policies (Self Assessment helpsheet HS321)

There are no income tax implications on the transfer or money from one account to another. 

Thankyou.

Regards.

Hi keikoo

If you qualify for split year the you only need to declare your worldwide income for the UK part of the year.

Your income will then be based on the UK earnings at the relevant rate bands:

Income Tax rates and Personal Allowances

Thankyou.

Regards.

Hi ilaminucci

This transfer of money would not be subject to tax for income tax purposes.

However, if it generates any interest in a bank then this would be reportable. 

Thankyou.

Regards.

Hi Pablo Santana

There would be no tax implications for income tax purposes in this situtation.

Thankyou.

Regards.

Hi Simon

This would need to be taken up with the bank as they are the ones who have requested the completion of the form. 

Thankyou.

Regards.