HMRC Admin 19 Response

Hi,
You can see guidance here:
Tax when you sell property 
It gives you guidance and includes a calculator to help you work out if there is a gain.  
You inherited 50% of the property on the passing of your father. You will need to obtain the probate value of the property at that time to work out 50% of the value. This is the value you acquired 50% of the property at. You also need to do the same to work out the other 50% you inherited when your mum passed away. By adding both figures together, you have the acquistion value of the property.  
You may be entitled to claim Private Residence Relief if this property was your private residence during your period of ownership. You can see more information here:
HS283 Private Residence Relief (2024)
Thank you.

Hi,
You will be taxable on the interest in the tax year the account matures and you are able to access the interest.
Thank you.

Hi,
These would only be due if or when the property was sold and were capital costs. They cannot be used against any other source of income.
Thank you.

Hi,
You can see guidance below as it also covers other property, assets and gains and includes a calculator to help work out if there is a gain:
Tax when you sell shares
If there is a gain, you can either report it below or in your Self Assessment tax return for that year:  
Report and pay your Capital Gains Tax
Thank you. 

Hi,
Unfortunately, there is no alternative. As a UK resident in the tax year you disposed of the property, you have to follow the UK legislation, which advises that you need to convert to GBP sterling using a just and reasonable exchange rate in use at the various time and then work out if there is a gain. If UK rules result in a gain in excess of the annual exempt allowance, you have UK tax to pay.
Thank you.

Hi,
In general, we will accept your valuation. There may be occasions where we do not agree with your valuation. If we cannot agree your valuation, we will informally suggest alternatives. We use specialist valuers to value some assets, mainly shares, land, goodwill and works of art. You will also be able to discuss your valuations with our valuers.
If we cannot reach agreement on any valuations you use in your return or the filing date is reached, we may enquire into your return. Under enquiry rules you would have the right to appeal to an independent tribunal.
Thank you.

Hi,
You can see that the guidance on annual investment allowance below advises you cannot claim a business car against annual investment allowance:
Annual investment allowance
CA23535 - Plant and Machinery Allowances (PMA): cars: outline of rules 
You can either write down the value of the car, or if the car qualifies, it can be be claimed under 100% first year allowance.
Cars used by a driving school and fitted with dual control mechanisms cannot be treated a cars for plant and machinery allowance. You can see guidance here: 
CA23510 - Plant and Machinery Allowances (PMA): cars: outline - meaning of ‘car’
Thank you.
 

Hi,
Your query is related to financial advice which we are unable to provide. You may want to consider contacting a financial adviser for advice.
Thank you.

Hi,
No, it is not. If the maximum that can be qualify for tax relief is £10,000, 20% will be claimed by the pension provider and 20% or 35% by the individual in the tax return, based on their highest rate of tax paid, by extending the amount taxable at 20% and reducing the amount taxable at 40%.  
Any amount paid into the pension scheme above the MPAA limit of £10,000, does not qualify for tax relief and will be taxed at the individuals highest rate of tax paid in the Self Assessment calculation.
Thank you.
 

Hi
You can see guidance on share pooling here:
CG51575 - Share identification rules for capital gains tax from 6.4.2008: the Section 104 holding in detail
Thank you.