HMRC Admin 19 Response

Hi Nella,

Yes. You can see further guidance here:

Shares and Capital Gains Tax (Self Assessment helpsheet HS284)

Thank you.

Hi,

If you are resident in the UK at the time of the disposal, then they would be subject to UK Capital Gains Tax.

If the gain exceeds the annual exempt allowance, this gain would be declared either using the online Capital Gains Tax service or in the foreign page of the Self Assessment tax return.  

You may also be able to claim relief for tax paid in another country.

Thank you.

Hi mancplau,

Cash gifts are not liable to Capital Gains Tax. Any interest arising from the cash gift is taxable.  

If the interest arises outside the United Kingdom, from a cash gift, then this would be classed as foreign interest.

Thank you.

Hi Davey2020,

Please refer to the Statutory Residence Test (SRT), which takes into account all relevant information and enables you to work out your residence status for a specific tax year:                                         

RDR3: Statutory Residence Test (SRT) notes

Thank you.

Hi Acanta Sita,

There are no Income Tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to Income Tax. Further guidance can be found here:

Tax on savings interest

Tax on dividends

You may wish to speak to Inheritance Tax regarding any Inheritance Tax implications:

How Inheritance Tax works: thresholds, rules and allowances

Inheritance Tax: general enquiries

Thank you.

 

Hi Daiput,

We are unable to provide financial advice.

Thank you.

Hi,

At the top of page F2 of the supplementay form SA106, the columns are marked 'A' Country or teritory code, 'B' Amount of income arising or received before any tax taken off and 'C'  Foreign tax taken off or paid.  Under the section for dividends from foreign companies, you would show the entries for A, B and C.  

A list of the country codes can be found here:

Self Assessment: Foreign (SA106)

Thank you

Hi Benny L,

You will show it on both. The SA106 is so that you can claim any foreign tax credit relief if you have already paid tax on the gain abroad.

Thank you.

Hi HCL_Chan,

All relevant pages for your return must be submtted at the same time whether you use paper or online.

Thank you.

Hi HCL_Chan,

It depends on the split year case you are applying under. You can see guidance here:

RDRM12000 - Residence: The SRT: Split year treatment: Contents

Thank you.