Gladys Chan

May I know if I receive the top cash back and some referral bonus ; welcome bonus from banks which the total amount exceeds £1000 in this taxable year, do I need to include those cash back ; bonus to income into self assessment form? Thank you

Dear Sir/Madam, May I know if the gain from selling stocks inheriting from my mom is classified as "Income" or "Capital Gain"?

Dear Sir/Madam, Thank you so much. I read the PIM2505 but do not see it specifies if the rental income and deductible expenses should be calculated on 365 days / exact rental days basis or monthly basis? Thank you

Dear Sir/Madam, The completion date of my apartment was 15 December 2022. The apartment had been let out on 15 January 2023, for a 12 month tenancy agreement, with $800 per week I need to pay annual management fee $4,800 and Ground rent $900 = $5,700 How to work out the deductible expenses for 2022-23 tax year? if the below calculation is correct? Rental income ($800 x 52 week)/365 days x no. of day from 15 Jan to 5 April 2023, minus $5,700/365 days x no. of day from 15 Jan to 5 April 2023? or actually I can deduct the management fee + ground rent from the completion date to tax year end day, i.e 15 December 2022 to 5 April 2023? Thank you

I have a $100,000 fixed time deposit (12-month term) with 4% annual yield, starting from 1 November 2022 to maturity on 30 October 2023 and the interest earning $4,000 will be paid on the maturity date (30 Oct 2023) Can I divide the expected interest earning $4,000 to 365 days and then times the number of days from 1 November 2022 to 5 April 2023, and include those partial interest earning to the income of 2022-23? Thank you

Thank you for your reply, The gain from selling stocks inheriting from my mom is classified as "Income" or "Capital Gain"?

Dear Sir/Madam, My mom was non UK resident and died last year. She gave me some stocks according to her Will. I want to know from what time the value of stocks is calculated so I need to pay any gains/ interest of those stocks afterward: 1) The stock value is calculated on the date of my mom died. so if the price of stocks raised afterward, I need to pay the tax on the gain. or 2) The stock value is calculated on the date of the issuance of Grant. or 3) The stock value is calculated on the date the actual stocks were transferred to the executor of the Will. (in my case it is my brother) or 4) The date the executor transferred the stocks to my account. Thank you

It is my first year of self assessment submission. Please advise if my calculation is correct or not: I made a loss of selling US stocks in last tax year of £8,000. (Capital gain loss) I received fixed deposit interest income of £20,000 in the same tax year. Since the interest income exceeds the personal allowance of £12,570, I need to pay 20% tax on the £7,430 (£20,000 - £12,570). Can I use my capital gain loss £8,000 to offset the taxable income £7,430, so I do not need to pay any tax? Thank you.

May I ask if the estate agency fee includes rent collection and renewal service so it is on going service but not a one-go first letting service, can such on-going agency service fee be treated as expenses on tax return?

The 24 months of tenancy agreement of my new built apartment has been started on 15th January 2023. As a landlord, I paid the following in January 2023 in advanced already: £3,600 - 12-months service charges to property management company, (=£300 per month) £4,200 - 12-month agency fee (Letting, renewal and rent collection fee) (= £350 per month) £420 - 12-month landlord rent protection insurance (= £35 per month) Can I divide the above 3 running expenses into monthly expenses, (£685 per month), and then deducting such monthly expenses across 2 tax years? Thank you