HMRC Admin 19 Response

Hi,

Yes, as taking the crystalisation starts the reduction.

Thank you.

Hi,

This is not taxable.

Thank you.

Hi,

You would need to provide evidence to show that they are the beneficial owner of the property prior to any sale by submitting a declaration of trust, if you have not  already done so.

What they then do with the proceeds is up to them and there are no Income Tax implications of a cash gift.

Thank you.

Hi,

You will need to contact our Income Tax team to have this removed so that your Self Assessment record remains open to collect the tax due.

Income Tax: general enquiries 

Thank you.

Hi,

You can see guidance here:

Individual Savings Accounts (ISAs)

Thank you.

Hi mb199 b,

You can see guidance here:

Tax and Employee Share Schemes

Thank you.

 

Hi,

No, they do not.

Thank you.

Hi,

There are no Income Tax implications on the giving or receipt of cash gifts, but you may wish to contact our Inheritance Tax team regarding any Inheritance Tax implications.

Inheritance Tax: general enquiries

You can also see guidance here:

How Inheritance Tax works: thresholds, rules and allowances

Rules on giving gifts

Thank you.