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  • Progress of Self Assessment (sent by post)

    Hi Sir/Madam, Good day to you. I have sent my self assessment paper form to HMRC by post in mid-Oct and there is no status update in my personal tax account yet. May I know when I will receive your reply or see the details in my tax account? Thank you!
  • RE: Overseas CGT - cost of property

    Hi, Would you further explain the following under 'HS281 Capital Gains Tax civil partners and spouses (2021)' -> If you and your spouse or civil partner are living together, any transfer of an asset between you is treated as giving rise to neither a gain nor a loss to the person transferring it. Any amount actually paid is ignored. If the person receiving the asset later disposes of it, they will be treated as if they had paid an amount equal to the total of your costs. Thank you!
  • Overseas CGT - cost of property

    Dear Admin, I am a BNO visa holder who starts living in the UK since Oct 2021. I solely own a property in Hong Kong and will sell it in Oct 2022. The property was my main home since I bought it with my spouse in 2013. We equally co-owned the property when we bought it. Then, my spouse sold his 50% ownership to me in 2019. The trade was done through solicitor and we had paid property stamp duty in Hong Kong. For CGT calculation, may I confirm the cost of the property should be its market value in 2019? Many thanks!