HMRC Admin 5 Response

Hi 

You would need to check this with Google Play, as this is an issue with their platform.  
There is no certificate for sole traders, so you would need to find out what they will accept or whether there is an alternative registration process.

Thanks
 

Hi Nicholas Miller

A capital gain must be reported on a self assessment tax return, when two conditions are met.  
1 - A tax return is required for any other reason and
2 - the disposal value of the asset exceeds £50,000.  
You meet both criteria, so you need to declare your 50% share of the gain on your tax return.  
As the property was inherited by you and your brother, you each recieved 50%.  In your tax return you declare 50% of everything.  50% of the disposal value, 50% of the probate value plus 50% of the disposal costs.  
Based on your figures, your return will show a gain, but when self assessment applied the annual exempt allowance, no capital gains tax is payable and this will be reflected in the SA302 tax calculation.  
In the situation where only 1 or none of the criteria is met and there is not capital gain liability, there is nothing you need report to HMRC.

Thank you

Hi 

Foreign annuities are declared in a self assessment tax return in the foreign section.  On paper supplementary page SA106, boxes 43 to 45.
Foreign (2024)
Foreign notes (2023-24)

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Hi 

Unless you have any other Self Assessment criteria - Check if you need to send a Self Assessment tax return- you do not need to file a tax return.

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Hi

While it's probable that you would put 0.00 in this 23/24 box, as your 22/23 underpayment is being paid through your 24/25 tax code, we may need to review your codes and calculations to confirm this.
Contact us by webchat or phone via Self Assessment: general enquiries to allow us to do this.

Thank you

Hi

If you meet the criteria for it to apply it is on the return for the year the property is sold.

Thank you

Hi

Please refer to CG25300P - Capital Gains manual: individuals: effects of residence, ordinary residence and domicile: domicile and the disposal by non-domiciled individuals of assets situated abroad: contents
and subsequent links.

Thank you

Hi 

Contact us by webchat or phone via Self Assessment: general enquiries - we can check to see whether your bank or building society has informed of us of your interest, and update your account with this interest if necessary.

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Hi aeiou83

You woudl do so for HMRC purposes but you may want to check with your bank if it is required.

Thanks