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Posted Thu, 18 Apr 2024 14:01:18 GMT by drbobontax
I cashed in some Investment Bonds which generated Chargeable Events. How and where do I put them on the tax return? Thanks for any help!
Posted Wed, 24 Apr 2024 09:35:42 GMT by HMRC Admin 25 Response
Hi drbobontax,
You will show these at the additioanl information page SA101 (paper).
If filing online you need to tailor your return at section 3 to include this source of income:
HS320 Gains on UK life insurance policies (2024)
Thank you. 

 
Posted Wed, 24 Apr 2024 10:38:04 GMT by drbobontax
Many thanks! Now my other question. I sold my house in Aberdeen last year and filled it in on line under "Residential property (and carried interest)". Tax was owed because I'd been overseas with a Christian Mission, so rented it out. Whilst overseas I bought a cheap house in the Mission Centre (£17,600). On leaving I couldn't sell it as the number of missionaries had dropped, even offering it at £12,000. Thus, when I declare it next year there will be a loss. 1. I assume I still declare it, in the same place I declared the Aberdeen house. 2. Does it make any difference that I didn't live in it for the last 2 years (the reason the Aberdeen house attracted CGT) if I'm making a loss? 3. If it's a loss, can I reclaim any tax in respect of it? Thanks. Bob
Posted Wed, 24 Apr 2024 12:37:18 GMT by drbobontax
Reference my last question, I phoned the tax office help line and after only 60 minutes was connected. The questions were mostly answered but just as we were coming to the end the advisor said something about after filling in the on-line part of the form as for a UK house to, "also fill in the overseas box". At this point the line went dead and the call ended (this has happened both times I phoned the help line). So, for my overseas house sale: Fill in the Residential Property section as for a UK property As the sale is at a loss (due to circumstances overseas) there is no PRR You don't need to fill in the separate on-line sale declaration as with a UK property Then you must fill in ..... QUESTION: I assume this means repeating the loss in the box, "Total gains or losses on non-UK residential property or carried interest reported on Real Time Transaction returns:". Is that correct? Thanks, 

Name removed admin .
Posted Tue, 30 Apr 2024 10:06:45 GMT by HMRC Admin 8 Response
Hi,
A gain arose on your UK property when you disposed of it and you paid the capital gains tax that arose.
In a later tax year, you disposed of the foreign property for less that you acquired it for, then you will have a loss, which you would declare. You can carry the loss forward and set it against a future gain, but you cannot carry it back to set against a previous gain.
Thank you.

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