HMRC Admin 32 Response
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RE: Tax Relief On SIPP
Hi,
The added relief is treated as paid at the same time you make your own payment. Please note the added releif is only at 20%
Thank you. -
RE: Declaring CGT
Hi,
As the transfer is to your son, a gain is due on this 25%. To work out your gain, you would need the value at the time purchased and a value at the time of the transfer and take the amount given to your son. The difference is your gain. As its joint, you then split this between you and your wife. You can also deduct any costs, apportioned, that relate to the buying and selling. Any gain then due needs to be reported within 60 days of the 'sale'.
Further guidance is at:
Report and pay your Capital Gains Tax
Thank you. -
RE: Private mileage deduction for travel to customer sites
Hi,
You can claim where you are travelling from home directly to the customer's sit and where you travel to a customer's site after travelling to the office, you can claim for the mileage from the office to your customer. You cannot claim from home to office.
Have a look at the guidance at EIM31200 onwards for more information.
EIM31200 - Employees using own vehicles for work: mileage allowance payments, AMAPs, MAR, passenger payments
Thank you. -
RE: Agile worker
Hi,
We can only provide general advice in this forum.
For a more detailed reply, you will need to contact our Income Tax team or seek professional advice.
Income Tax: general enquiries
Travel from your home for visits in the community, would be allowable for tax relief. Travel from your home to your office, would not.
Thank you. -
RE: Recognition personal income tax / CGT China residential property sale
Hi,
Yes. Provided the property was your main residence, during a period of ownership, you would be able to claim private residence relief for that period of ownership.
Thank you. -
RE: Historic Transfer of Property Ownership While Non Domiciled.
Hi,
We can only give general advice in this forum.
Yes. All we would need is a copy of the changes declared to land registry.
Thank you. -
RE: Valuation of property for IHT Purposes
Hi,
You will need to contact the Inheritance Tax team for advice for this query.
Inheritance Tax: general enquiries
Thank you. -
RE: Inheritance of share of property question
Hi,
No. Your wife does not need to inform HMRC of anthing at this time. There is no tax liability resulting from your wife inheriting a share of the property. In the future, when your father in law passes away, you wife will inherit a further share of the property. From a UK tax perspective, your wife would only need to declare the disposal of the property and any gain arising from the disposal, when she disposes of her share of the property.
Thank you. -
RE: Reporting CGT on Overseas Property sale
Hi Jane,
The double taxation agreement between the UK and Portugal, gives Portugal the right to charge capital gains tax on the Portuguese property disposal, first. However, HMRC still has the right to tax your world-wide income and capital gains. This in itself would result you paying tax on the same gains in both countries, double taxation would be the result.
To ensure that this does not happen, you would need to claim tax relief of up to 100% of the capital gains tax paid in Portugal, which would be set against your UK capital gains tax liability. This means that you do not pay the tax twice.
If you need to submit your 2022 to 2023 tax return without claiming a foreign tax credit, because you don't know how much Portuguese tax needs to be paid, then you could amend your 2022 to 2023 Self Assessment Tax Return at a later date.
Thank you. -
RE: Dividend Withholding Tax
Hi,
You would use the gross figure for dividends, which is the net figure plus witholding tax on SA106. Column D is the witholding tax Column E is to claim foreign tax credit relief and colum F is the gross figure.
Have a look a the note for box 5 on page FN6.
Foreign notes (2022-23)
Thank you.