HMRC Admin 32 Response
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RE: CGT - Beneficial Ownership
Hi,
For Income and Capital Gains Tax purposes, there are two types of ownership, legal ownership (TSEM9120) and beneficial ownership (TSEM9130).
TSEM9120 - Ownership and income tax: legal background: ownership - legal owner
TSEM9130 - Ownership and income tax: legal background: ownership - beneficial owner
The beneficial owner is the person for whose benefit the property is held. It is distinguished from the person in whose name the property is held (the legal owner). The person chargeable is normally the beneficial owner of the asset which has been disposed of. The same person may be both legal owner and beneficial owner of the property, but there can be a separation of the two.
Thank you. -
RE: Capital Gain and foreign dividend - Use of exchange rates
Hi H@VPA,
The exchange rates provided by HMRC, can be found at:
Exchange rates from HMRC in CSV and XML format
For older exchange rates please see
The National Archives - Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009
The exchange rate is not set in stone, which is why you have a choice. 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.
Thank you. -
RE: Tax Refund
Hi,
For issues with the online verifcation The only way to contact them is by using the 'get help with this page' or similar link on the page when you are advised the information is incorrect. With regard to the refund you would write to the address shown here.
Income Tax: general enquiries
Thank you. -
RE: Self-employed Bartender
Hi,
You do not need to register for self assessment for this one off source of self employment. All you would need to do is write to HM Revenue and Customs BX9 1AS and declare the income, so that tax may be charged against.
Thank you. -
RE: State Pension and how to record on self assessment tax form
Hi,
We don't have access to the calculator that the online system uses to estimate the State Pension amount. After the return has been filed they can contact our Self Assessment team and we can review the figure that has been calculated.
Self Assessment: general enquiries
Thank you. -
RE: Self Assessment (savings tax) for one year only??
Hi,
You are correct this would be criteria for a return. Once the return has been filed she can use the online criteria checker for the next year and this has an online form at the end to request removal from Self Assessment.
Income Tax: general enquiries
Thank you. -
RE: Capital Gain and foreign dividend - Use of exchange rates
Hi sb3502,
The guidance on the term 'conderation' can be found at:
CG14500 - Consideration for disposal: meaning of consideration
For assets acquired or sold for currency, CG78310 gives HMRC position.
CG78310 - Foreign currency: assets acquired or sold for currency
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, which is why there are several alternatives provided at:
HMRC exchange rates for 2023: monthly
Thank you. -
RE: State Pension Starts at end of 2023/24 tax year
Hi,
The DWP will inform HMRC when the state pension will start and HMRC will use that information to update your tax codes accordingly.
Thank you. -
RE: Child Benefit Charge
Hi,
It will be taken into account. If you contact our Income Tax team we can advise regarding the 2022 to 2023 code.
Income Tax: general enquiries
Thank you. -
RE: Non UK Tax Resident (checked by SRT) still need self-assessment ?
Hi,
Your income from UK bank interest is taxable in the UK. To declare that you were not tax resident for 2022 to 2023, requires the completions of a Self Assessment Tax Return for 2022 to 2023 (SA100) and SA109 (residence). Have you checked whether split year treatment applies? Have a look at the guidance at:
RDR3: Statutory Residence Test (SRT) notes: 6. Split years
If you are not tax resident for the whole tax year and split year treatment does not apply, then the overseas rental income, dividends and bank interest would not be taxable in the UK. unless you bring this income into the UK, when it will become taxable in the tax year you bring it to the UK. In the current tax year, you will be treated as resident for tax purposes for the whole tax year on your world wide income. This means that your overseas property income, dividends and interest, will need to be declared on a tax return each year going forward.
Tax on savings and investments: detailed information
Thank you.