Ann Q

Hi, I sold a Hong Kong property which incurred a capital loss. As a UK resident, can I claim the foreign property capital loss (to use against future foreign gains)? If yes, do I claim capital loss in the self assessment, the same way as selling a UK property? Thanks!

Hi, If an SPV holds several properties , each over £500,000 and all rented out (thus qualifying for rental relief), does it need to submit an ATED return for each property? Is there any difference on purchase year, and subsequent years? (e.g. 1st year needs to submit ATED return for each property, and going forward only 1 return per year?) Thanks, Ann

Hi, The father transferred a property under his name to his son (no cash transaction involved), while the market value of the property was less than the original purchase price. In this case, does the father need to report Capital Gain tax even if no tax to pay? If the son sells the property in the future, what would be the base price for calculating the son's capital gain tax? Would it be the price that the father bought the property, or the market value of the property at transfer? Thanks! Ann

Hi HMRC Admin 2, I have a follow-up question on this. In this case, if the property is under the wife's name, and there is a mortgage taken solely under the wife's name, if the beneficiary of rental income is the husband and he reports rental income through self assessment, can the mortgage interest be included as tax credit? Thank you.

Hi, Can I assign my rental income to a minor child (below 18) through a deed of assignment? Thank you.

Hi, I read the guidance but it did not say specifically about whether it it transferable to a partner/beneficiary under a deed of assignment, I can not find any guidance on this....can you point me to where I can find such guidance, or let me know if mortgage interest is transferable? Thank you.

Hi HMRC Admin 8, Thanks for the reply. I understand that income and expenses can be split proportionally, but mortgage interest is no longer tax deductible expense, but given as a tax credit. HMRC Admin 25 said it can not be shared/transferred, but it seems you are saying mortgage interest, even if only under one person's name, can be shared/transferred based on a deed of trust/assignment. This seems controversial? Can you confirm which one shall I follow? Thank you.

Hi, If a rental residential property is jointly held under husband and wife's name, but the mortgage is only under the husband's name. In self-assessment, income would be treated 50%-50%, what about the mortgage interest? Can that be split 50%-50% as well, or it has to be only reported in husband's tax return? Thank you.

Hi, Can the mortgage interest also be included in the deed of trust / deed of assignment to be transferred as well? Also, does a 'deed of assignment', instead of a Deed of Trust, work as well, for the transfer of rental income? Thanks

Thanks for the reply. From my understanding, dividend from UK companies paid to Non-uk resident can be treated as 'disregarded income' and therefore not liable to UK income tax. Can you confirm if this is correct? See link below: https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim1170 I also found a similar post before (link as below), and HMRC Admin 5 posted 3 months ago that "Individuals who are non resident in the UK are not taxable in the UK on UK interest or dividends received. " It does not mention anything about double taxation treaty. Can you explain a bit more about how double taxation treaty works here? https://community.hmrc.gov.uk/customerforums/pt/d0f9057b-3d87-ee11-a81c-000d3a86dfe6#:~:text=Individuals%20who%20are%20non%20resident,is%20known%20as%20disregarded%20income). Thank you.