HMRC Admin 18 Response
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RE: deleting authorization from the accountant
Hi,
No as you have now removed this authority. Any changes will now need to be done by you and in writing.
Thank you. -
RE: Non resident gifting property and reporting
Hi,
An estate agent valuation will suffice and any change will be confirmed with the HMRC post valuation.
Thank you. -
RE: Capital Loss on Partially Recovered Bitcoin from Mt. Gox
Hi,
Please refer to Cryptoassets Manual - Cryptoassets for individuals: Capital Gains Tax: being defrauded - HMRC internal manual - GOV.UK (www.gov.uk) and Capital Gains Manual - Introduction and computation: occasions of charge: assets lost/destroyed/negligible value: involuntary transfers - HMRC internal manual - GOV.UK (www.gov.uk). You may also find
HS286 Negligible value claims and Income Tax losses on disposals of shares you have subscribed for in qualifying trading companies (2021) helpful - this talks about shares but the same rules about how to calculate the loss apply to cryptoassets. The claim must be made within 2 years of the decision being made that the asset is of negligible value.
Thank you. -
RE: How do I retrieve information about a historic Capital Loss
Hi,
You will need to contact us direct on Self Assessment: general enquiries so that we can access your record.
Thank you. -
RE: Is buying Gilts in an offshore fund deemed a remittance?
Hi,
Commonly foreign income and gains are ‘remitted to the UK’ if they (or something deriving from them) are:
brought to, or received in, or used in the UK by you or another relevant person
brought to, or received in, or used in the UK for your benefit or that of another relevant person
used to pay for a service provided in the UK to you or another relevant person
used to pay for a service provided in the UK for your benefit or that of another relevant person
used outside of the UK for a relevant debt in the UK
A remittance will not only occur if you remit the actual or original foreign income and gains to the UK. You will also make a remittance if you remit something that derives from them to the UK.
Thank you. -
RE: Potential ISA over subscription - advice please
Hi,
By withdrawing the funds and then depsoiting them in another ISA this is seen as new money and forms part of the 20k limit. Ymjcvou have therefore exceed this limit as you have deposited 12k, 15k and £1225. As you have oversubscribed in the current tax year, you can contact your ISA provider to instruct them to remove overpayment amounts to correct the error.
Thank you. -
RE: When does a CGT payment appear on your Self Assessment payment schedule
Hi,
The capital gains is on a separate system so wont show on your self assessment. you are reporting it again in the tax return as the original report would have been based on estimated income whereas you now have the actual and this could change the tax rates as to what has been charged. on the return, the section is immediately after detailing the disposal to show that you have already declared it under the property disposal return and also to show the tax already paid.
Thank you. -
RE: Brought forward losses
Hi,
They should be valued at an exchange rate in the tax year they arose.
Thank you. -
RE: SA108
Hi,
If the disposal value of the asset is over £50,000, then it must be declared on SA108, even if there is no gain.
Thank you.
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RE: Business Expense Category Queries