HMRC Admin 19

Hi,

As you previously advised the employer is not in the UK, scenario two applies.

Thank you.

Hi,

If you are a UK tax resident you need to report the actual gain in the UK. You can see guidance here:

Tax when you sell property

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Hi,

It depends on whether it is gambling or trading. You can see guidance and the associated links within it here:

BIM56900 - Financial traders - instruments and shares: contracts for differences and spread betting

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Hi,

You can see guidance here:

Tax on foreign income

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Hi,

Yes, you will still need to show it in additional information as it is exempt in the UK under Article 17.

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Hi,

You cannot use your personal allowances to reduce the gain.

The question refers to how much of your personal annual allowance for capital gains, in the event that you have already submitted a PPD form and not fully utilised the £12300 Capital Gains Tax annual allowance.

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Hi Parry,

The same rules apply. You would need to declare any interest that the gift generated as foreign income.

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Hi,

You can see guidance here:

Capital Gains Tax: what you pay it on, rates and allowances

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Hi,

 You will be entitled to claim capital allowances in respect of your car but because there is an element of private use of the car it will need to be included in a single asset pool. The rate at which capital allowances can be claimed will depend on the carbon dioxide emissions of the car. You can see more information regarding this here:

CA23535 - Plant and Machinery Allowances (PMA): cars: outline of rules

A hybrid car will not qualify as a zero emissions vehicle as hybrid cars do have a certain element of carbon dioxide emissions. We understand that the level of carbon dioxide emissions for a hybrid car can differ from one vehicle to another so you will need to check the actual level of emissions of the car you purchase.

You will not be able to claim the simplified expenses rates alongside the capital allowances as those rates take into account all costs of using your car including wear and tear on the car. You will need to claim instead the actual costs of any business mileage incurred.

Thank you.

Hi,

As long as the new boiler is the closest equivalent in capability, then the replacement boiler will be a revenue repair. It is important to look at the position when the work is carried out. Does the replacement simply do the same job as the old one, or is there an improvement. As technology and industry practice change over time, there will be changes in what amounts to simply repairing the asset. Something that was seen as an improvement ten years ago may now be the industry standard for that type of work, for example due to changes in building or safety regulations. Examples of this have been double glazing and condensing boilers. 

If, taking into account the changing technology caveat, the replacement is an improvement then the whole cost is capital. So whilst heat pumps are of course a new technology, our current view is that a new like for like gas boiler, the modern equivalent of what is already there, can still be purchased and a heat pump installation is in fact a different system than a gas boiler. On that basis we would be of the opinion that this is an improvement and therefore the whole expenditure would be capital. 

Further information can be found here:

BIM46920 - Specific deductions: repairs and renewals: what is a repair: different materials

BIM46925 - Specific deductions: repairs and renewals: what is a repair: changing technology

Work out your rental income when you let property

PIM2030 - Deductions: repairs: is it capital?

Thank you.