Winnie
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Regular monthly allowance to support adult children, taxable?
As a parent who has been providing regular living allowance to my son when he is in University, he will be getting his first job and becomes a tax payer. I would like to continue supporting him with the same regular living allowance for a few years. What is the tax liability to myself and him if any? Does this classify as Cash Gift which will have the £3,000.00 tax free limit, and subject to inheritance tax if exceed? M -
RE: Non-domicile gains from selling shares of a UK company
Sorry for the confusion. So for someone who is not living in the UK and has not been living in the UK for more than 10 years, there is no CGT for selling shares of UK company as mentioned on the page on the gov.uk? -
RE: Non-domicile gains from selling shares of a UK company
Hi, Thanks for your reply but it seems to contradict what I have read in the page of CGT on the gov.uk : https://www.gov.uk/capital-gains-tax/what-you-pay-it-on#:~:text=If%20you%27re%20abroad,within%205%20years%20of%20leaving. It says on this page: "If you’re abroad You have to pay tax on gains you make on property and land in the UK even if you’re non-resident for tax purposes. You do not pay Capital Gains Tax on other UK assets, for example shares in UK companies, unless you return to the UK within 5 years of leaving." -
Non-domicile gains from selling shares of a UK company
Hi, Being a UK non-domicile, do I need to pay tax on the gains when selling shares of a UK based company? Thanks -
Posted Tax Return acknowledgement
Hi, I have send in my tax return mid August by post. How can I check with HMRC that they have received it? and typically how long do I need to wait for an acknowledgement from HMRC? -
RE: Where is self assessment to disclose claim for hold-over relief of CGT
Thanks. Can I just double check when I enter the disposal proceeds, and Gains in the year on the self assessment, these values are excluding the amount of GHO claim, correct? -
Any CGT on shares sold but buy back into ISA shares
Hi, I sold some shares and then buy back within 30 days of selling into my ISA shares account. Is there any CGT liability for those shares that sold but buy back into ISA? If so, what is the base cost I should use, the original cost or the market price at buy back into ISA because it is within 30 days? -
RE: Where is self assessment to disclose claim for hold-over relief of CGT
Thanks. The online return instruction above seems to only apply if I am not using the provided capital gains computation worksheets provided. I have some disposals that are not under the claim of hold-over relief and one that is a GHO, what is the best way to file them? -
Where is self assessment to disclose claim for hold-over relief of CGT
Hi, I have already done the claim for hold-over relief - section 165. I understand I need to disclose this in my self assessment but have not found the right place to do so. Can you please provide me the details whereabout in the Self Assessment form that I need to do so. Thanks