HMRC Admin 5 Response

Hi

Once you move to the UK, you will become taxable on your world-wide income in the UK.  
If you transfer your overseas savings to a UK bank account, you would only be taxable on the interest that the capital will generate.
Whether that is for the full tax year or from the date you arrived in the UK, will depend on the outcome of the statutory residence tests.  
Guidance on the tests can be found at RDR3 Statutory Residence Test.

Thank you

Hi

The UK/Portuguese double taxation agreement, gives Portugal the first opportunity to tax your Portuguese property rental income and capital gains.  
As a UK resident, using the arising basis on your world-wide income (which is the default taxation method), HMRC would have the right to tax your overseas property income and capital gains.
As Portuguese nationals, resident in the UK, you would be considered to be resident and not domiciled in the UK (if resident in the UK for less than 16 years).  
This situation allows you claim the remittance basis, instead of the arising basis for calculating tax liability on your world-wide income.  
The remittance basis would mean that you only declare your UK income and capital gains and any overseas income or capital gain, brough into the UK, on your self assessment tax return.  
The remittance basis is not always the better option, as you lose your personal tax allowance and may also incur the remittance charge.  This could result in more tax being payable using the remittance basis instead of the arising basis.  
Have a look at
Residence, domicile and the remittance basis: RDR1
for more information.
If you choose the arising basis, you will need to declare the gross profit and expenses in your tax return.

Thank you

Hi

Any gain would be on the property only and you need to look at what it sold for before any costs are deducted as this is then taken into account when working out the gain.
As you are the executor, it is you who is liable for the CGT as the beneficiaries just receive any funds that are then distributed so there is only 1 CGT allowance due.

Thank you

Hi CGTTOA

Yes, a property disposal return is required for each individual who owns the property if UK tax is due. if not their main residence then full private residence relief is not available.
Please take a look at Private Residence Relief (Self Assessment helpsheet HS283)

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Hi

Yes that is correct.

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Hi

As a code to make your pension exempt cannot be issued until the pension is actually in  payment, nothing will have been done as yet.
You can phone to check we have your application thoough on +44 13 5535 9022.

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Hi Olavo Dinis Linhares Teixeira

As you have sold them immedialtey at vesting there is no gain to declare and no loss can be claimed.

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Hi,

As this is not an annual payment and the 'reward' is contigent on you making deposits, this is not taxable.

Thank you