HMRC Admin 19 Response

Hi,

It could be that you have not fully closed your Self Assessment record. Please contact Self Assessment team to allow us to confirm this, and close your record.

Self Assessment: general enquiries

Thank you.

Hi,

As a beneficiary of the disposal of an overseas property, you may have Capital Gains Tax to pay in that country. You may also have Capital Gains Tax to pay in the UK. You would need to work out if you have UK Capital Gains Tax to pay. If you do, this will need to be reported in a Self Assessment tax return. There is a calculator here:

Report and pay your Capital Gains Tax

All entries must be in pounds sterling, converted from the foreign currency, using a just and reasonalbe exchange rate in use at the time. For your convenience, there are exchange here:

Exchange rates from HMRC in CSV and XML format

Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009

You are free to use any of the supplied rates or one of your own choosing, such as from a recognised stock exchange. 

Thank you.
 

Hi,

The guidance note for SA109, advice for Box 9 is if you had a home overseas in 2023 to 2024. If you had one or more homes overseas and you spent at least 30 days in any one of those homes during the 2023 to 2024 tax year, put ‘X’ in box 9. You must consider each overseas home separately. You can see guidance here: 

Residence, remittance basis etc notes

Thank you.

Hi,

Cash basis is the recording of money, using the date when it comes in and goes out of your business.

At the end of the tax year, you will only pay Income Tax on money received in your accounting period.
 
Traditional accounting practice records the date that money is invoiced and not received or paid out.  

Have a look at the guidance at below link, to be aware of the restrictions that apply when using cash basis. 

Cash basis

Thank you.

Hi,

No, he does not. If you brother in law is not a UK resident, then there is no need for him to register for a National Insurance number or Self  Assessment.  

There is a Capital Gains Tax calculator to help work out if there is a gain here:

Tax when you sell property

As a non UK resident, he must report the disposal of the property within 60 days of the completion date, whether there is a gain or not. He can print and post a paper form here:

Report your Capital Gains Tax on UK property by post

Thank you.

Hi,

It is largely a question of fact and degree in each case, whether expenditure on a property leads to an improvement, so we cannot give you a definitive answer. You will need to make that decision for yourself, based on the facts. You can see guidance here:

PIM2030 - Deductions: repairs: is it capital?

Thank you.

Hi,

Yes, that is correct.

Thank you. 

Hi,

There are no tax implications on the transfer of assets between a husband and wife or civil partners. There are also no tax implications on your wife moving money from a joint account to an individual account.

Thank you.