HMRC Admin 5 Response

Hi

The gift would need to be done prior to any sale and you would need to notify HMRC so that you are then not classed as the owner of the shares should you sell them within your own account.

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Hi

Yes you need to declare this income - Tax on foreign income

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Hi 

If you had a credit on your Self Assessment then this would have been allocated against the balance due 31 January 2024 and any remaining credit then available for repayment.
If this is still not showing on your account then you will need to contact HMRC to review Self Assessment: general enquiries

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Hi

No. a gift of an asset is only tax free when it is between spouses/civil partners or to a charity. as these shares are to her children, this is classed as a sale. any tax due woulod therefore be based on the difference in value from the date purchased to the date gifted and the market value price must be taken at the date gifted.

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Hi Scott Allardice

Yes that is correct

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Hi Adrian Wallis

If a care worker then they can claim Mileage Allowance Relief (MAR) as their own vehicle is being used for business travel - this does not include home to permanent workplace. If rhe expenses are under £2500 they should fill in and send us a P87. They will need to complete a self-assessment return as your expenses are over £2,500.

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Hi

Please refer to Tax on your private pension contributions

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Hi AMC2024

Please refer to Report and pay your Capital Gains Tax

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Hi

We cannot answer Inheritance Tax queries on this forum.

You will need to contact the IHT team via the link below:

Inheritance Tax: general enquiries

Thank you