HMRC Admin 5 Response

Hi

As the property is jointly owned, your wife will only declare 50% of the gains, using the 2000 acquisition costs and the disposal value.  
You would also do the same, but you would also use the 2000 acquisition costs, as there is no capital gains tax arising from the transfer of assets between spouses or civil partners, so the original acquisition cost applied.

Thank you

Hi

We cannot comment on scenarios, only provide general information/guidance in this forum.  
For an answer to a detailed question of this nature, you would need to contact our self assesment helpline on 0300 200 3310, or seek professional advice.

Thank you

Hi

We are unable to review personal matters in this forum.  
For an answer to a personal question of this nature, you would need to contact our self assesment helpline on 0300 200 3310 or contact our webchat facility at Contact HMRC.

Thank you

Hi,

If you had previously advised HMRC of these losses and they are on record, yes you can use them.
If you did not previously tell us, it is now to late as they must be notified within 4 years of them arising.

Thank you

Hi

No as you are not resident and the income will be declared in the country you are tax resident.

Thank you

Hi Andrew Kenyon

Payments from RRSP are a pension and as such are under Article 17 - DT4605- Where a UK resident makes a lump sum withdrawal from an RRSP or an RRIF, Canada imposes a 25 per cent withholding tax.
No tax credit relief is allowable in the United Kingdom in respect of the tax withheld, however, because the Canadian tax is imposed upon the lump sum withdrawal (which does not itself give rise to a tax charge in the United Kingdom),
whereas any UK tax charge is on the disposal of assets held within the Plan or Fund to enable the lump sum to be withdrawn (and no tax is levied on the disposal of fund assets in Canada).
The Elimination of Double Taxation Article (Article 21) obliges the United Kingdom to give credit for Canadian tax paid only against UK tax computed by reference to the same profits, income or chargeable gains by reference to which the Canadian tax is computed.
Since no UK tax is computed by reference to the subject of Canadian tax (that is, the withdrawal), no tax credit relief is allowable.
Similarly, where the disposal of fund assets to facilitate a withdrawal gives rise to a UK tax charge, no tax credit relief is allowable since the disposal does not attract a tax charge in Canada. 

Thank you