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  • RE: Overseas Property Capital Gain Tax Calculation

    My wife bought a Hong Kong residential property in the market in 2015. Then she rented it out. The expenditure she paid : Hong Kong Stamp Duty : GBP 18,000 Solicitor fee: GDP 2,000 Property Management Fee: GBP: 5,000 (in year 2015 - 2019) In 2019, she sold this residential property to me, I also rented it out. The expenditure I paid when she sold it to me: Hong Kong Stamp Duty: GBP 15,000 Solicitor fee: GBP: 3,000 Property Management Fee: GBP: 3,000 (in year 2020 - 2022) This year (2022), I am going to sell this property in the market. Are all these expenditures in this residential property: 1. Stamp duties (two times: My wife bought the property from the market, and I bought it from her) 2. Solicitor Fees (two times: My wife's and mine) 3. Property Management fees for both periods (Period 2015-19 and Period 2020-22), can be deducted from my Capital Gain when I sold it? Thank you.
  • RE: Fill SA109 and UTR

    I have gone through the webpage 'Self Assessment tax returns' and I understand that need the UTR. The spot of the problem is: 'I have no UTR, how can I finish Form SA109?' I need to claim a split year in 2021-22. I have submitted the SA1 online but I have not received the UTR number. The first line in Form SA109 is asking for my UTR number. I have no UTR number, so I cannot finish the SA109 form. Please give me advice again, thank you.
  • Fill SA109 and UTR

    I became a tax resident in 2021-22, but I was not a tax resident before. I submitted the SA1 online. My income is my pension, and the amount was lower than the Personal Tax Allowance, so I do not need to pay the tax this year, and HMRC does not issue a UTR number to me. But.... I meet the split year case 8 condition, so I have to claim a split year in2021-22, I need a UTR number to fill the Form SA109. Can I get UTR number in another way? or Can I submit SA109 with no UTR number?
  • Overseas Property Capital Gain Tax Calculation

    My wife bought a Hong Kong residential property on the market for GBP 400,000 in 2015 and rented it out. In 2019, she sold it to me for GBP 600,000 (it is the market price), and I paid Hong Kong Stamp Duty, then I also rented it out. We were Hong Kong residents and not UK tax residents/domiciles at the time. Until 2021, we entered the UK with BNO Visa and became UK tax residents in 2021. In other words, I owned this overseas property 2 years before I entered the UK on a BNO Visa and became a UK tax resident. This year (2022), I am going to sell this property in Hong Kong for GBP 700,000. The Capital Gain is calculated at GBP700,000 - GBP400,000 (her buy-in price), Capital Gain = GBP 300,000 ? or Is it calculated at GBP 700,000 - GBP 600,000 (my buy-in price), Capital Gain = GBP 100,000 ?