HMRC Admin 32 Response
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RE: Chargeable Event Certificate and General Investment Account
Hi,
The chargeable event certifiate will show the amount that the policy paid out, the gain arising from the policy, the notional tax paid and the number of years the policy was held. In your tax return you would declare the gain and the number of years the policy was held on SA101 in the section 'gains from life insurance policies...'.
Thank you. -
RE: Carrying forward a Capital Loss
Hi,
The annual exempt allowance is not set agains losses, only gains. You can still carry forward the loss to a future tax year. Losses can be carried forward indefinitely and set against a gain in a future tax year.
Thank you. -
RE: Daytrading stocks
Hi,
Whether you’re classed as a day trader or an investor could make a serious difference to your tax obligations.
The crucial distinction is that a ‘trader’ will not hold on to shares in the long-term. Whereas, an investor will hold shares for use as assets to then generate revenue, dividend income for example.
This is important because a stock trader will often pay Income Tax, whilst an investor will more likely pay Capital Gains Tax.
Thank you. -
RE: Constant travelling for work outside UK
Hi,
You are resident in the UK, so although you travel the UK and overseas with work, you are still regarded as taxable and tax resident in the UK.
Thank you. -
RE: Tax treated as paid on distributions received by non-UK resident persons
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RE: Self-employment with foreign income
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RE: Foreign Inheritance - K1 1041
Hi,
Please refer to guidance at:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. -
RE: Spilt year treatment and foreign income
Hi,
Please see guidance at:
HS321 Gains on foreign life insurance policies (2023)
Yes, you can download the SA100, It states for reference only but you can still use this:
Tax Return (2023)
Thank you. -
RE: SA109
Hi,
HMRC cannot tell you that and it is for you to determine based on the guidance available.
RDRM12000 - Residence: The SRT: Split year treatment
Thank you. -
RE: CGT on transfer of part equity of second home to child
Hi,
You can still use the calculator. If it is UK residential property that has been transfered. This needs to be reported and paid within 60 days.
Please see futher guidance at:
Report and pay your Capital Gains Tax
Thank you.