Skinny

Hi, I moved to the UK with my parents 3 years ago. They sold their join owned residential flat in Hong Kong last year and need to report the overseas CGT on self assessment in coming financial year. In addition, they gifted me the money to buy a new house in UK to live with them. I have some questions. We will declare the tax in paper forms. 1. I need to declare the capital gain with the form SA108? 2. To show the calculation, should I need to print the computation work sheet (last page) of the Capital Gains Tax summary notes in HMRC 3. Where should we put the additional information such as such as dates of buying the flat, the date of leaving the flat,.... ? In box 54 on SA108?

Hi, There is another related question. I received monthly interest (HKD) from my HK bank account. I need to fill in the self assessment tax return for this income in GBP. There are two ways to calculate the equilvalent GBP by: 1. total twelve month interest x Average foreign exchange rates (FX) are published on 31st March 2024 2. Apr 2023 HKD interest x Apr FX rate + May 2023 HKD interest x May FX rate + Jun 2023 HKD interest x Jun FX rate..... Which method should I use to calculate the amount in filling the corresponding tax return form? Thank you.

Hi, My parents and I are BNO (VISA) holders from Hong Kong. We have been living in UK for more than one year and are taxpayer. My parents are retired many years ago and just sold their Hong Kong property and want to give all the proceeds (around £360,000) as a gift by bank transfer to me. I know that they have to pay the capital gain tax. Now I plan to buy a flat in UK and live with them. I have never owned a property in UK and in other country/area. 1. As I receive this gift, whether I need to pay any income tax or capital gain tax or others tax for this？ 2. At what rate it will be taxed for this gift if it needs to be taxed? 3. Whether the gift is needed to be declared in my tax return? 4. I am a BNO holder. Am I eligible to claim the first-time buyers' relief related to the stamp duty when I buy a residential property in UK? Thank you.