HMRC Admin 19 Response
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RE: How do I calculate the CGT on shares Im now selling
Hi,
This information should be held by the Stock Exchange, however, you may have to pay a fee. Petrhaps if a broker dealt with the acquistion, they may have this information.
Thank you. -
RE: Are you Resident for tax purpose in any country other than UK
Hi,
Dual citizenship is a different matter.
Are you resident in the Phillipines for tax purposes, yes or no. The anwer to that question will answer your question.
On another matter, Article 10 of the UK / Philippines advises that interest arising in the Philippines to a UK tax resident are taxable in the UK as well as the Philippines. In the Philippines, however, you cannot be taxed more than 15% of the gross amoount of interest:
UK/Philippines Double Taxation Convention
Thank you. -
RE: CGT on sale of property occupied by parents
Hi,
The guidance below advises that dependent relative relief is not available in respect of any residence acquired after 5 April 1998:
CG65550 - Private residence relief: dependent relative: introduction
The guidance here advises who may be regarded as a dependent relative:
CG65570 - Private residence relief: dependent relative: introduction
If a dwelling-house is occupied by a dependent relative and the other conditions for relief are fulfilled, relief is given in the same way and for the same periods as Private Residence Relief on an individual’s own residence. You can see the guidance here:
CG65560 - Private residence relief: dependent relative: amount of relief
Thank you. -
RE: Starting a second Sole Trader business but in a different sector
Hi,
You can use the same UTR.
Thank you. -
RE: CGT Past Losses submission advice
Hi,
If you have not previously notified us of them, you cannot now claim them.
Thank you. -
RE: CGT – Cash and Share Offer when company A takes over company B
Hi,
The cash should be decared in the year it is paid as the gain is on the takeover of company B.
We cannot comment on future events as legislation may change.
Thank you. -
RE: Opening Multiple ISA's today and now changed mind. How much can I invest?
Hi,
You can see guidance here:
Individual Savings Accounts (ISAs)
We cannot advise you on where to invest your money as this is financial advice which we are not authorised to give.
Thank you. -
RE: Does transferring money to an isa from shares count as profit or not
Hi,
You need to transfer the shares to the ISA within 90 days of when you received the shares. If you have actually sold them then this is still a capital gain that would need to be reported if over £3000 for 2024 to 2025, £6000 for 2023 to 2024.
Thank you. -
RE: NRE and NRO interest India
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RE: Can certain legal costs be deducted from CGT on a property sale
Hi,
You can see guidance here:
CG15250 - Expenditure: incidental costs of acquisition and disposal
Thank you.