HMRC Admin 32 Response

Hi,

HMRC canot advise you on your residence status as this is for you to determine based on the guidance available.

RDR3 Statutory Residence Test

Thank you.

Hi,

1. Please refer to guidance at:
   
   Remittance basis 2024 (HS264) 
    
2. There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax. Further guidance can be found here:
   
   Tax on savings interest
   
   Tax on dividends
    
3. How the gift is made is between you and your parents.

Thank you.

Hi,

No.

Thank you.

Hi mb199 b,

1. That is correct.  
2. No, as your shares must be transferred to your ISA.  
3. You can only do this in 2025 to 2026 if you meet the 90 day deadline. The level of any potential capital gains then depends on what is left and what your income is.

Thank you.

 

Hi TarquinRK,

As the property is 50/50, each owner must declare their share of income and expenses. This doesnt need to be on a tax return as you can use the real time system.

Report and pay your Capital Gains Tax

Thank you.

Hi,

1. No CGT as is it just the beneficial ownership at this time.  
2. You need to supply a copy of the transfer agreement/deed of assignment.  
3. You would need to check the the Stamp Duty Office on:

Stamp Duty on shares: general enquiries

Thank you.

Hi,

The columns are for countries not the amount. If you have more than 1 account in the same country you will add them together to give a total for the country.

Thank you.

Hi,

It would need to be a deed of trust that was submitted and this should have been sent to HMRC prior to any sale to ensure that evidence was held that you were not the beneficial owner of all the crypto. It cannot be applied retrospectively.

Thank you.

Hi,

1. Not necessarily and that is for you to decide if you want to be.
   
   Director information hub
    
2. Yes.    
3. N/A
4. No

Thank you.

Hi,

That is correct.

Thank you.