HMRC Admin 32 Response

Hi,
Only if it generated interest in the tax year up to being placed in the ISA. The interest would be taxable.
Thank you.

Hi,
You may find that private residence relief will cover all or most of any gain that may arise.  
There is a capital gains tax calculator below to help work this out.
Tax when you sell property
The calculator should be used in conjunction with HS283 when working out the amount of private residence relief the person can claim.  
HS283 Private Residence Relief (2024)
If tax is payable, the calculatore leads on to registering for a capital gains account, where the gain can be reported and the tax paid. If no gain arises, then there is nothing more that needs to be done.
Thank you.

Hi,
Boxes 3 to 13 are for Residential property (and carried interest) regardless of whether the property is located in the UK or elsewhere.  
The capital gains summary notes advise that box 6 is for ""Gains in the year, before losses. Put the total of any gains made on the disposals of interests in residential property (and any carried interest gains) in box 6. This figure will be the gain minus any relief, claims or elections. This figure is the total gains, excluding any losses, for the year so must include any gains included within the box 9, box 11 and box 13 amounts.
For disposals reported on a Capital Gains Tax UK Property Disposal return that qualify for Business Asset Disposal Relief, see the exception at box 9.
The guidance for box 11 advises ""Total gains or losses on non-UK residential property or carried interest reported on Real Time Transaction returns If you’ve made returns using the ‘real time’ Capital Gains Tax service, put the overall gain or loss in box 11. If the result for the year was a loss, put a minus sign in the shaded box in front of your figure. These individual gains and losses will also need to be included within the box 6, box 7 and box 13 entries as necessary. Enter the reference numbers of any ‘real time’ Capital Gains Tax submissions made in box 54".
Capital Gains Summary notes
Thank you.

Hi,
I am sorry your call cut out. Unfortunately we are unable to review personal matters on this forum.  
For an answer to a personal question of this nature, you would need to contact our Self Assesment team using the link below.
Self Assessment: general enquiries
Thank you.

Hi,
If your mum transfers the property to you, then she may have a capital gain tax liability, but this may be offset or eliminated by private residence relief.  
There is a calcuator below to help work out if there is a gain.
Tax when you sell property
You can find further guidance on private residence relief at:
HS283 Private Residence Relief (2024)
Thank you.

Hi,
All interest (except that earned in an ISA) should still be reported.
It will then show the personal savings amount in the calculaton and if below the allowance the tax rate will be 0.
Thank you.

Hi,
Private Residence Relief (PRR) is calculated using months that the property was your main residence over the number of months that you owned the house.  
Have a look at the guidance helpsheet HS283.
HS283 Private Residence Relief (2024)
Thank you.

Hi,
As it is too late to amend your 2021 to 2022 tax return, you will need to submit a SA109 along with a letter advising which income is either included in the return, when it should not be or income that should be in the return, but is not.  
Residence, remittance basis etc (Self Assessment SA109)
We can manually review your tax return and recalculate your liability, raising revenue assessments where you have more to pay.
Thank you.
 

Hi,
You first need to consider the UK tax residency rules.
RDR3 Statutory Residence Test
As you were resident in the UK for more that 183 in the 23/24 tax year, you are tax resident for the whole tax year. As you are tax resident for the whole tax year, you need to consult the guidance on split year treatment.
You will need to consider article 14 of the UK/HK tax treaty, as it refers to employment income. You became self employed when you moved to a consultancy contract and this is covered by article 20 (other income).  
As self employed and in receipt of foreign self employment income, you are required to complete a Self Assessment Tax Return.
Thank you.

Hi,
If passed the timescale for a reply then I would advise to contact HMRC before resubmitting to check on the original submission.
Contact HMRC
Thank you.