HMRC Admin 19 Response

Hi,

You need to tailor your return at section 3 to say yes to capital gain. Once in there you state that it is unlisted shares and then complete the boxes required for the amounts.

Thank you

Hi,

No, as the tax return confirms the final figures for each year whereas your code is an estimate.

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Hi,

No, as this relates to payment for work carried out in Hong Kong.

Thank you.

Hi TaxFan,

You cannot claim for previous years payments. You will need to submit a separate claim either in writing or on the phone,

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Hi,

No, it is not part of the £20000 limit.

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Hi,

No, the beneficiaries will not be taxed on the capital that they receive from the estate. Any interest or dividends that this then generates is taxable income.

Thank you. 

Hi,

You would need to contact our Inheritance Tax team for advice.

Inheritance Tax: general enquiries

Thank you.

Hi,

You may have other deductions declared that were not in your tax code. You can contact or Self Assessment team by webchat to clarify.

Self Assessment: general enquiries

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Hi,

That is not for HMRC to answer as it is his choice which option is used in order to declare the income and pay tax.

Thank you.

Hi,

The gain also needs to be reported to the UK, converted to sterling.

You can claim Foreign Tax Credit Relief for the Indian tax paid up to the maximum of UK tax that would be due.

There is no  Income Tax due on the cash gift from your mother.

Thank you.