MK
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Income from bank saving interest - ISA account and non-ISA account
Hi I have saving in UK in ISA and non-ISA account, when I do the self assessment for my income, do I need to input all interest from both accounts or I just need to report the interest from non-ISA account? (as I know the interest in ISA will be within GBP1000 tax free allowance but not sure if bank will directly report to HMRC or I need to report everything then HMRC will do tax assessment as a whole?), thanks! -
RE: Capital Gain Tax for a private property with change in ownership%
For above case, my wife and me are still together now. As now the 100% ownership of property is owned by me, so when I do the capital gain report if I sell the property in cost $C, I only need to report based on my name, right? so I should fill in 100% of property purchase cost ($A) in my capital gain report? I had paid for the agent fee + stamp duty in 2009, in year 2019, an additional agent fee + stamp duty had been paid again in order to get 100% ownership, may I know if I can put both agent fee + stamp duty as tax relief in capital gain report if I sell the property now? they are the real expense I paid for the house in order to get 100% ownership. And for the agent fee + stamp duty paid in 2009, although the ownership was 50/50 with my wife, but can I put 100% of these agent fee + stamp duty as tax relief? -
Capital Gain Tax for a private property with change in ownership%
Hi We have a private property bought in 2009 in $A with ownership of 50% myself 50% my wife. In 2019, I bought the 100% of house ownership based on property price $B (it is the house marketing price in 2019), then I own 100% of the house. So far we used the house as the only home from 2009 - 2020, then it will be sold in 2023 in $C. May I clarify for this property CGT calculation, what is the purchase cost of property? It should be: 1) $A x100% ? or 2) $Ax50% + $Bx50% (as I bought 50% ownership of house from my wife)? or 3) $Bx100% For calculation of proportion of time as "home", it should be: 1) (2023-2020)/ (2023-2009) ? or 2) (2023-2020)/ (2023-2019) ?