HMRC Admin 21 Response

Hi Sharon2
We cannot pay into a foreign bank account and it would be  a cheque that would be issued.
Thank you.

Hi Duane Hardy,
Yes, BIM37910 applies and you cannot claim these as expenses.
Thank you.

Hi Mar Lupo
I am sorry you will need to contact HMRC to check why you have be asked to file a Self Assessment for the 2020/21 & 2021/22 tax years Self Assessment: general enquiries.
Thank you.

Hi SassNorth11,
A tax return (SA100) is required, where you need to submit any additional tax return pages, such as SA106 (Foreign).  We cannot advise you whether you need to or how to make a deed of trust that would apply in Hong Kong. If you have to complete a self assessment tax return, you will be declaring your world wide income on the tax return, using the supplementary pages, such as SA106 (Foreign).  You may be asked to provide supporting evidence, where an equiry into your tax return takes place.
Thank you.

Hi Barnaby2024,
The disposal of the shares minus on the market value of the at the time of inheritance will result in either a gain or a loss.  The gain will be subject to capital gains tax.
Thank you.

Hi Steve Fernback,
You will need the market value of the shares at the time the gift was made.  This woud be used to calculate the loss arsing from the NVC.  The NVC should be included in the unlisted shares and securities.  You will need to include 'NVC' under other claims and elections.  The loss can be used against income in the tax year the NVC occurs.
Thank you.

Hi Ekathleen Kathleen,
There would be no tax implications as you would still be classed as UK tax resident and as such there is no change to working conditions/tax code.
Thank you.
 

Hi blueshaze,
Foreign tax credit relief cannot exceed the UK tax due on the same source of income. for your scenario, the relief would then be limited to £67.50. you would therefore enter the gross amount to claim this.
Thank you.

Hi Vineet Kumar,
If you had still not received the repayment then you will need to contact HMRC to review Income Tax: general enquiries.
Thank you.

Hi Sapan Desai,
Please also refer to Capital Gains Manual for conditions that must be met in order for the full period of absence to qualify.
Thank you.