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Where Taxpayers and Advisers Meet

Search found 12 matches

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by tannaroo
Tue Mar 22, 2016 3:07 pm
Forum: Income Tax
Topic: 0% starting rate savings income band
Replies: 1
Views: 540

0% starting rate savings income band

Does anyone know if the £5,000 tax-free (0%) savings income band applies to non-doms?

Or is it lost, like the personal allowance, if one claims the remittance basis?
by tannaroo
Fri Jan 22, 2016 9:33 pm
Forum: International Tax
Topic: Remit a capital loss to UK Non-Dom
Replies: 3
Views: 1089

Re: Remit a capital loss to UK Non-Dom

What if I decide in 2016/17 to not claim remittance basis (since its an annual decision), such that I am taxed on my worldwide income and then incur the foreign capital loss (sell the shares), I presume this will be OK and the foreign capital loss can be claimed in the UK?
by tannaroo
Fri Jan 22, 2016 2:43 pm
Forum: International Tax
Topic: Remit a capital loss to UK Non-Dom
Replies: 3
Views: 1089

Remit a capital loss to UK Non-Dom

Hi,

I have a foreign capital loss but am a UK Non-Dom therefore claim remittance basis.

Can I remit the proceeds of that foreign loss to the UK and then claim that capital loss in the UK?

Thanks
by tannaroo
Tue Jan 05, 2016 2:29 pm
Forum: Income Tax
Topic: Personal Allowances EU national
Replies: 3
Views: 856

Re: Personal Allowances EU national

Thanks. I've never really understood the "claim for remittance basis treatment has been lodged for that tax year". If I have been here for less than 7 out of 9 years (i.e. not subject to remittance charge) and have foreign income, do I need to actually make a claim for "remittance basis treatment" o...
by tannaroo
Tue Jan 05, 2016 11:54 am
Forum: Income Tax
Topic: Personal Allowances EU national
Replies: 3
Views: 856

Personal Allowances EU national

Hi, I was reading from HMRC website and Resident pages (Box 16), that "individuals have a right to claim UK personal allowances and reliefs from income tax, despite being not resident in the UK. The individual may qualify an an EEA national". Therefore, if I am now resident in the UK (as a non-dom),...
by tannaroo
Mon Oct 05, 2015 1:25 pm
Forum: Capital Gains Tax, CGT
Topic: Capital loss from foreign investment.
Replies: 6
Views: 2322

Re: Capital loss from foreign investment.

Can I clarify this 4 year rule / election.

Am I right in saying you have to notify HMRC within 4 years of a incurring capital loss through the tax return, but once you have the notified that capital loss it be can be offset indefinitely against a capital gain?
by tannaroo
Wed Mar 11, 2015 1:26 pm
Forum: Capital Gains Tax, CGT
Topic: Foreign Capital Loss
Replies: 6
Views: 3467

Re: Foreign Capital Loss

Thanks for that. I have another related question. I have some Canadian dollars in my UK broker account. A few years ago I converted GBP into CAD with a view to buy Canadian shares but I never did. So the CAD funds just sat there in my UK broker account earning interest. I now want to convert those C...
by tannaroo
Tue Mar 10, 2015 2:25 pm
Forum: Income Tax
Topic: SIPP tax free when retiring
Replies: 1
Views: 537

SIPP tax free when retiring

Hi I understand the current rules of drawdowns such that 25% is tax free whilst the remaining 75% is subject to your marginal rate of tax. What happens when if from age 55 you decide to emigrate from the UK to say Dubai where there is no income tax. Would the 75% pension you receive be therefore tax...
by tannaroo
Tue Mar 10, 2015 9:25 am
Forum: Capital Gains Tax, CGT
Topic: Foreign Capital Loss
Replies: 6
Views: 3467

Re: Foreign Capital Loss

Thanks.

For a UK Non Dom, I guess the foreign capital loss can be used if the proceeds from those shares are remitted to the UK?
by tannaroo
Mon Mar 09, 2015 8:23 pm
Forum: Capital Gains Tax, CGT
Topic: Foreign Capital Loss
Replies: 6
Views: 3467

Foreign Capital Loss

Hi,

I have a foreign capital loss from the sale of USA shares. Can this foreign capital loss be used to offset UK capital gains (shares/property etc) either now or in the future?

Thanks

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