HMRC Admin 34 Response
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RE: Capital Gains Tax - Tax Return
Hi,
So long as you mum does not need to complete a tax return for any other reason for 2024 to 2025, then there would be no requirement to declare the disposal in a tax return.
Thank you -
RE: CGT if I move out
Hi,
You may find that private resdience relief will not cover your gain and so some tax may be payable. As you have two properties, you need to write to HMRC to confirm which is your main residence for capial gains purposes. You have 2 years from the date you acquire a second or additional property. After this, HMRC will determine your main residence based on the fact of the case. You should addres your letter to:
H.M. Revenue and Customs Self Assessment and PAYE
BX9 1AS.
Please have a look at helpsheet HS283 at:
HS283 Private Residence Relief (2024)
Thank you -
RE: Pension Lump Sum
Hi,
To ensure you meet the conditions please refer to guidance at:
PTM176310 - Lump sum and lump sum and death benefit allowance: Enhanced protection
Thank you -
RE: CGT on US shares (including accounting for PAYE deduction)
Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You can contact the CGT team at:
Capital Gains Tax: general enquiries
Alternatively, you may wish to consider seeking professional advice.
Thank you -
RE: Gifting back property to parent
Hi,
She will be liable to CGT despite it being gifted, because it has not been her main residence.
Thank you -
RE: Lifetime ISA - "First home" question
Hi,
You can still use the lifetime ISA, but you wont qualify for any of the perks associated with it.
Thank you -
RE: Non-dom tax reforms coming into effect from 6th April 2025
Hi,
The guidance on the changes to the remittance basis and 30 October 2024 budgetary announcements is still being written at this time. Full guidance and a GOV.UK calculator will be provided in due course to support customers to record their 2024 to 2025 disposals at the new rates in the 2024 to 2025 self assessment return.
Thank you -
RE: Bare Ownership of property abroad
Hi,
There would be nothing you need to do at this time. You may find you have UK capital gains tax to pay if you dispose of the property at some time in the future. Current guidance and a helpful calculator can be found at:
Tax when you sell property
Thank you -
RE: Cash Gifts - UK Universal Credit
Hi,
Sorry, we can only answer HMRC questions on this forum.
Please contact the DWP for advice.
Thank you. -
RE: CGT on United States Shares