HMRC Admin 34 Response
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RE: ISA Accounts
Hi,
From 6 April 2024, you can open more than one account. However, the deposit limit applies to all accounts and remains at £20,000. You would need to check to see if your account is a flexible account and if so, the ISA provider would need to arrange any transfer.
Thank you -
RE: Main residence
Hi,
As it has not been your main residence for the whole period of ownership then CGT will still be likely. Any nomination submitted now would not cover the whole period the property has been rented out.
For further guidance please use the link below:
CG64495 - Private residence relief: only or main residence: two or more residences: time limit for nominating
Thank you -
RE: Bare Trust Value & Family Income for Student Maintenance Grant
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RE: How to manage someone's tax account online as Power of Attorney
Hi,
For assistance please contact the online helpdesk:
Technical support with HMRC online services
Thank you -
RE: CGT on Inherited 2nd property from Spouse
Hi,
You will take your 50% share of the value at the time of purchase and then the other 50% share of the value when your husband passed away. Added together this is your purchase price and the gain will then be the difference on this taken from the sale value (plus any relevant costs).
Thank you -
RE: Tax and NICs on additional earnings
Hi,
As this would be seen as self employment, you will need to register for self assesssment and declare the income in a tax return.
Thank you -
RE: Lending cryptocurrency and capital gains tax
Hi,
We can't provide advice on individual cases in this forum. The guidance at CRYPTO61200 you were previously referred to, still applies.
You may also want to consider CRYPTO61650:
CRYPTO61620 - Decentralised Finance
Thank you -
RE: Pension Tax
Hi,
It is still in the future but based on current guidlines - The Double Tax agreement effective 18th July 2018 is between the UK and the Republic of Cyprus (also a member of the EU).
Northern Cyprus is considered by the international community to be part of the Republic of Cyprus.
However taxes paid by individuals or businesses to the so called Turkish Republic of Northern Cyprus would not be recognised as falling under the Agreement as they are not paid to the Republic of Cyprus. As a result, no DTA form could be verified and your income would remain liable in the UK.
Thank you -
RE: Crypto gains from referrals
Hi,
Please refer to the link below for guidance:
CRYPTO20000 - Cryptoassets for individuals
Thank you -
RE: Selling two inherited properties
Hi,
CGT will be liable on both properties as they are not main residences for you and your siblings apart from the brother who lives in the flat. It is only him that can claim private residence relief.
Thank you