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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I wanted to ask, I work in the UK and pay taxes here. I come

Resolved Question:

Hi there,
I wanted to ask, I work in the UK and pay taxes here. I come from Slovakia(EU), where we have a small family bussiness. I do get sometimes dividends ( already taxed money in Slovakia) plus sometimes I work for our Slovak company from here and i get already (taxed) wage. My question is - should I pay tax on that slovak income. I think double taxecion shouldnt be happening. Another one is last year my parents gave me a couple of thousend to help us ( My family wife and 4 children) with buying a car - is that taxable?
Thank you very much.
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.

Customer: replied 1 year ago.
Just to confirm my Question: should I pay tax on that slovak income HERE IN THE UK again?
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your question.

As a UK resident for tax purposes, you are taxed on your worldwide income and gains.

You should declare income you get from your family business in Slovakia and also dividends you receive. Although both these dividends and income are taxed at source in that country, they should be reported on your tax return here by completing supplementary pages SA106 - Foreign to the main tax return.

There is a double tax agreement between the Slovak Republic and the UK whereby you are not taxed on the same income twice.

More information on this can be found here

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/420047/sa106-notes-2015.pdf

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Expert:  taxadvisor.uk replied 1 year ago.

You claim foreign tax credit relief against any tax suffered on the income and investment income in Slovak Republic.

Many thanks

Expert:  taxadvisor.uk replied 1 year ago.

The money your family gave you to help you buy a car is not taxable and you don't report it on your tax return.

This is deemed a gift and gifts are not taxable in the UK.

Many thanks

taxadvisor.uk and other Tax Specialists are ready to help you
Customer: replied 1 year ago.
Thank you very much. Now, I hope I will know how to fill up the tax return form. Excelent!
Expert:  taxadvisor.uk replied 1 year ago.

I thank you for accepting my answer.

Best wishes