L T

Dear Sir/Madam, I am non UK tax resident for 2023-2024 tax year but I am holding a UK passport and am a British citizen. I have around 30K pound for BTL property income and around 5K pounds for dividend from a UK unlisted trading company . My advisor told me that I cannot get personal allowance for my property income even if I am British because of the dividends I got is "disregarded income " . He said the PA is restricted by the rules of disregarded income on my property income. But I checked HS300 (2024) and it says that "With the exception of income from property in the UK and investment income connected to a trade in the UK through a permanent establishment, the tax charge for non-residents on investment income arising in the UK is restricted to the amount of tax, if any, deducted at source. If the tax charge is limited in this way, personal allowances will not be given against other income. This restriction does not apply in the overseas part of a split year". Can you clarify this please? Can I get personal allowance for my BTL income ? and if no, can I elect not to use "disregarded income" rules? Thank you. LT

Hi , Can I please ask if it's a bare trust set up in a will and the beneficiary/trustee does not transfer the property to himself, is it the personal representative who has to decide to see if need to declare estate CGT or is it the beneficiary/trustee who has to decide he needs to declare the CGT? thank you. Kind regards

Dear Sir/Madam, Thank you so much for your kind clarification, Best regards LT

Dear Sir/Madam, Thank you so much for your kind response. Regards LT

Dear Sir/Madam, Thank you for your kind reply. This clarifies that it is not subject to CGT. Can I please kindly ask if it is subject to personal income tax? Kind regards LT

Hi, I was living in the UK and doing self assessment, but now I left the UK and the property is being rented out by myself and not through letting agent. I had UTR number already, Can I file directly the self assessment or do I have to register NRLS? thank you, Kind regards

Dear Sir/Madam, good afternoon. I am purchasing a residential property. can I please ask if the compensation of GBP 1,365 which is compensated by the seller as he did not moved out of the property as agreed in the property sales contract and he paid this amount to me as some kind of compensation arising from the contract, is taxable income or not? thank you for your kind clarification. Best regards LT

Thank you very much for your kind clarification. Best regards LT

Dear HMRC official, Good afternoon, can I please ask if there is any CGT implications in the following senario, One has two individually owned company A and B. He is the 100% shareholders of both companies which has been trading for years and are both in profits. If he transfers his 100% share of company A directly to company B and there is no issuing of new shares in B. Will he be subject to CGT based on market value rule? Thank you for your time and clarification, Kind regards LT

Thank you very much for your kind clarification. Best regards