HMRC Admin 5 Response

Hi

There is no capital gains tax liability on the transfer of assets between spouses/civil partners.  
Your spouse may have capital gains tax to pay on the disposal of the asset.

Thank you

Hi AB CD

Enterprise relief is set against the tax liability, before Foreign Tax Credit Relief is calculated.

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Hi schangh

 No, this is not a family tie.

Thank you

 

Hi

There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to inheritance tax regarding any inheritance tax implications
How Inheritance Tax works: thresholds, rules and allowances and
Inheritance Tax: general enquiries.  
You may also want to review the guidance at How Inheritance Tax works: thresholds, rules and allowances

Thank you

 

Hi

No, you dont include this anywhere as it is not taxable.

Thank you

Hi

You would need to review the guidance of the tax treaties between the UK and each of the countries in question.  
There is generally an article relating to 'Artistes and Athletes/Sportsmen' please see:
Tax treaties
Where tax is payable in the other countries, then up to 100% of the foreign tax paid can be claimed as a tax credit in a self assessment tax return.  
The credit for overseas tax paid, cannot be more than the tax payable in the UK.  As your example states he is only able to claim enough to cover the UK tax liability.

Thank you

Hi

If you have the need to file a 21/22 tax return, yes you can still file it.
However, you will likely be charged a penalty for failing to tell HMRC that it was required.

Thank you

Hi

It will be under UK pensions.

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Hi

You will need to contact an estate agent to get valuations of similar properties that were sold at the same time the property was gifted to you.
All amounts must be converted to sterling to work out the gain and it will be in your 2023/24 tax return, due by 31/1/25.

Thank you