HMRC Admin 19 Response

Hi,

Please contact the Stamp Duty Land Tax team for advice.

Stamp Duty Land Tax

Thank you.

Hi,

Please contact our Childcare Service team for advice.

Childcare Service helpline

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Hi,

As the owner of 100% of the property at the time it is sold, only you are liable to Capital Gains Tax. Both you and your husband were resident in Hong Kong at the time of the sale, so any capital gains for him, will be charged in Hong Kong.

At the time the property was disposed of, you owned 100% of the property and were resident in the UK. This means that you are also subject to Capital Gains Tax in the UK, as well as any capital gains taxes paid in Hong Kong.  

To work out your acquisition cost requires you to find out what 50% of the acquisition costs were for you in 2014, in pounds sterling. You also need to work out the market value of the 50% you acquired from your husband. Add these both together to obtain you acquisition cost, inlcuding legal fees and so on.

Mortgages and re-mortgages have no bearing when calculating Capial Gains Tax, as these are just a means used to own an asset.

You can see guidance on Private Residence Relief and the capital gains calculator here:

HS283 Private Residence Relief (2023)

Tax when you sell your home

Disposal of overseas assets should be declared on a Self Assessment tax return.

Thank you.

Hi,

On a foreign investment, the income is the difference between the purchase and redemption price after each has been converted to sterling on the day the transactions took place, so includes any foreign exchange gains. Any losses cannot be deducted. 

You can see more information here:

SAIM3010 - Deeply discounted securities: introduction

If you invest in deeply discounted securities, put the difference between what you paid for the bond and what you redeem or sell it for in box 3 of SA101 (page Ai1). 

Thank you.

Hi,

That is correct.

Thank you.

Hi,

There is no tax consequence of transferring the capital to the UK.

Thank you.

Hi,

You can see guidance here:

RDRM32320 - Remittance basis: accessing the remittance basis: remittance basis charge - nomination of foreign income and gains: making a nomination

Thank you.

Hi,

You will not declare the foreign income received as this is earned after you became non resident.

Thank you.