L T

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

Dear Sir/Madam, Good afternoon. can you please clarify if the cold take away bubble tea as you see from some shopping mall or high street store all over the UK is zero-rated or standard rated? Thank you. Kind regards LT

Dear Sir/Madam, can I please ask if claim of remittance basis will lose Personal Savings Allowance? I have overseas income of around GBP 60K and in the UK I only have around GBP 300.00 bank interest . if I claim remittance basis, will I lose my personal savings allowance of 1,000 and have to pay tax? thank you. Kind regards LT

Thank you for your kind clarification. Regards LT

Dear Sir/Madam, Good afternoon, Can you please kindly clarify if and how an individual (UK tax resident) withhold tax from interest payment to an overseas individual (Non UK tax resident)? For UK companies, there is CT61 form. Is there any form for individual traders? Furthermore, does an UK individual have to withhold tax for the interest payment to an overseas resident if it's not for a trade, say it's for purchasing a residential property considering the rocketing official interest rate now? Thank you for your kind clarification. Regards LT

Dear Sir/Madam, Thank you for your clarification. We really appreciate this. Kind regards LT

Dear Sir/Madam, Good afternoon. Can you please kindly clarify above question? Kind regards LT

Dear Sir/Madam, Good morning and I hope you are well. Can you please kindly clarify if a minor children under 18 need to pay Capital Gains Tax under following situation? A buy-to-let company was set up with initial shareholder as father, mother and the minor daughter under 16, with each one holding 1 same ordinary share that is worth 1 pound. So total 3 pounds / 3 shares. There is no special arrangement/trust or whatsoever between the parents and the daughter. All of them are UK tax residents. Afterwards, the BTL company purchased 2 residential properties under mortgage and then the daughter transferred her 1 share to her father. Under this situation, the market value of the share when transfer might not be the same as it was at the initial issue. Will the daughter be subject to capital gains tax? Does the company need to get independent valuation of the shares at the time of transfer and does the daughter have to register self-assessment if the value is a significant increase beyond the annual exemption amount? Thank you very much for your kind help and explanation. Kind regards LT

Dear Sir/Madam, Thank you very much for your response. Kind regards LT