HMRC Admin 32 Response
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RE: Clarification of £135 Import Rules For Consumers
Hi,
Anything posted or couriered to you from another country goes through customs to check it is not banned or restricted and you pay the right tax and ‘duty’ on it.
This includes anything new or used that you:- Buy online
- Buy abroad and send back to the UK
- Receive as a gift
If the total value including delivery and insurance above that amount then customs charges will be applicable.
More information on below link:
Tax and customs for goods sent from abroad
Thank you. -
RE: Money from selling property oversea
Hi Ivan,
You would be able to claim losses for the period that the property was not your main residence.
You would follow the guidance in helpsheet HS283 and apply the proportions to the loss, to work out the allowable loss.
HS283 Private Residence Relief (2024)
If you want to claim this loss, you will need to report it in your Self Assessment Tax Return for the tax year in which the disposal ocurred or in writing. In either case, you will need to provide supporting evidence of the loss and how you arrived at your figures.
You only have 4 year from the end of the tax year that the loss arises, to claim the loss.
Thank you.
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RE: Which year is CGT due on late payment of takeover proceeds as shares were lost/forgotten
Hi,
Capital gains tax should be calculated using the tax year in which the shares were disposed of.
Any tax deducted, should be declared, so that is can be factored into the capital gains calculation.
Thank you. -
RE: Non UK resident Landlord move to the UK
Hi,
As you are now a resident landlord, please contact the help line on 0300 322 9733 or write to the below to update your position.
Charities, Savings and International 1
HM Revenue and Customs BX9 1AU
You would still declare the rental income in a self assessment tax return as before. -
RE: How to report CGT paid on a buy to let property in my SA?
Hi,
Please have a look at the paper SA108.
Capital Gains summary (2024)
Choose the relevant section for your type of gain, such as residential property.
For residential property you will see box 9 and 10, other property assets and gains are boxes 21 & 22.
Listed shares use boxes 29 & 30 and unlisted shares use boxes 37 & 38.
The online tax return does not use the same numbering, so when in the relevant section, look for the boxes with the same wording.
Thank you. -
RE: Capital Gains Tax & Private Residence Relief for selling overseas home
Hi,
If your mother owns a share of the asset when it is disposed of, then a capital gain may arise. If the property was her main residence up to the date she moved to the UK, then she can claim private residence relief for that period, following the guidance on helpsheet HS283.
There is a calculator at:
Tax when you sell property
This calculator can be used to work out any gain. All figures used in the calculation must be in pounds sterling, using exchgange rates that were in use at the time of acquistion and disposal.
The disposal must be declared in a self assessment tax return. Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.
For your convenience, there are exchange rates at:
National Archives: Exchange rates from HMRC in CSV and XML format
For older rates please see:
National Archives: Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2010
You are free to use any of the supplied rates or one of your own choosing.
Thank you. -
RE: Capital gains tax on property
Hi,
Yes. You can claim private residence relief for the period that the property was your main residence.
Please have a look at the guidance at helpsheet HS283.
HS283 Private Residence Relief (2024)
There is a calculator below, which also has a link to the online capital gains service, so that you can report any gain and pay the tax due, withing the 60 day period.
Tax when you sell property
Thank you. -
RE: Relocation costs for moving to the UK
Hi,
No, these are not tax deductable as it is your choice to move.
Thank you. -
RE: CGT on gift of a UK property if both spouse are non UK resident
Hi,
Please refer to CG22200 which covers the exemptions from the no gain/no loss one of which is where the transferred asset was "part of the trading stock of the spouse or civil partner making the transfer; or acquired as trading stock for a trade carried on by the transferee spouse or transferee civil partner".
CG22200 - Transfer of assets: between spouses or between civil partners living together
It would then be up to them to consider if the property was treated as 'stock' - refer them then to:
BIM33005 - Stock: meaning of
Also refer to the below which mentions property.
BIM33035 - Stock: meaning of: statutory definition
Thank you. -
RE: Property Income jointly owned property incorrectly filed on one, self-assessment
Hi,
As now owned 50/50, you should both be declaring your share of the income and expenses. You will therefore need to amend the returns for the years that are wrong and your wife will now need to file returns to show her share from when she was added. Going forward all income and expenses should be 50/50 unless you submit a change in beneficial ownership.
Thank you.