HMRC Admin 19 Response
-
RE: Foreign dividend
Hi,
You should use the received date.
Thank you, -
RE: Split year treatment
Hi,
If you qualify for split year then you only report any foreign income for the UK part of the year. You can see guidance here:
RDRM12000 - Residence: The SRT: Split year treatment
If you do not qualify then you will need to report all your foreign income to the UK. Again, you can see the guidance here:
Tax on foreign income
The guidance below will help you work out if split year treatment applies and which date to use.
RDRM12150 - Residence: The SRT: Split year treatment: Case 4: Starting to have a home in the UK only
Thank you. -
RE: ended partnership - sole traders
Hi,
On the self employment section, it acts if you ceased prior to 5 April 2024. You enter a date there if it applies.
Thank you. -
RE: Non-doms new FIG regime
Detail on the Government’s intended changes to the rules for non-domiciled individuals can be seen here:
Technical note: Changes to the taxation of non-UK domiciled individuals
HMRC is unable to provide any further detail on how these changes will apply to an individual’s personal circumstances at this time
Thank you. -
RE: Foreign rental income and expenses
Hi,
Yes, you can claim relevant expenses for the rental. You can see guidance here:
Work out your rental income when you let property
The same principes apply for a foreign property as a UK property.
Thank you. -
RE: Can capital gains designated in TRF offset UK capital losses?
Hi,
Detail on the Government’s intended changes to the rules for non-domiciled individuals can be seen here:
https://www.gov.uk/government/publications/changes-to-the-taxation-of-non-uk-domiciled-individuals/technical-note-changes-to-the-taxation-of-non-uk-domiciled-individuals
We are unable to provide any further detail on how these changes will apply to an individual’s personal circumstances at this time.
Thank you. -
RE: Tax Liabilities for Property Transfer to Children
Hi,
As its your main residence, there is no CGT due at this time.
This forum does not deal with Inheritance Tax or SDLT queries, so please refer to:
Passing on a home
Stamp Duty Land Tax
Thank you. -
RE: Capital gains tax when property jointly owned husband/wife then only wife
Hi,
Yes, it will be.
Thank you. -
RE: Am about to pay CGT after a house sale, but will soon incur a loss when I sell shares
Hi,
You can only calim the losses once they are actually confirmed. As this will be after the 60 days reporting requirement, you will need to complete a full return for 2024 to 2025 to declare both disposals. Once the return has been submitted and any CGT refund calculated, this can then be issued,
Thank you. -
RE: Gifting assets outside of the UK
Hi,
You may want to discuss the legal implications with a solicitor,
Thank you.