HMRC Admin 18 Response
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RE: Omission of attaching capital gains calculation sheet into self assessment return
Hi,
You should be able to go back into the original return as if you were amending it to include the computation. If not, you will need to send it by post.
Thank you. -
RE: Tax reclaim relating to income from discretionary trust
Hi,
You need to declare the net interest received so that the tax deducted is taken into account. Any additional tax may be due if you are a higher rate taxpayer.
Thank you. -
RE: Capital gains on half a flat inherited in Germany
Hi,
No.
Thank you. -
RE: Clarification on ISA Accumulate Balance Limit
Hi,
There is no limit to the amount of accumulated value held in an ISA, just the limit of a maximum deposit of £20,000 per year. You should discuss this with your ISA provider.
Thank you. -
RE: Reporting overseas income on self assessment
Hi,
The guidance notes state that Unremittable income is "foreign income that you could not bring to the UK because of exchange controls or a shortage of foreign currency in the overseas country. If you later bring this income into the UK, convert the income and foreign tax into UK pounds, using the exchange rate at the time of the remittance". If you tick this box for this reason, you do not need to complete the foreign section for this income. If you have other foreign income, then you would still need to complete the foreign section.
Thank you. -
RE: Foreign Pensions - Double Tax Agreements
Hi judetin,
You will pay tax on the UK income once you return. The German state pension is only taxable in Germany. You should therefore let HMRC know when you return to have your record updated.
Thank you.
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RE: CGT liability on adding cohabiting partner to house deeds
Hi,
You are correct, as you have lived there as your main residence for the whole period of ownership, no capial gain tax arises, as the personal pension relief covers the gain.
Thank you. -
RE: Clarification on 'The total amount you sold the assets for was more than £50,000'
Hi,
It is the total.
Thank you. -
RE: Capital gains TAX on non cashed out crypto assets.
Hi NikTheGeek,
There are different rules for different types of assets and this has been set in legislation. See: Capital Gains Tax: what you pay it on, rates and allowances
Thank you. -
RE: Can I claim back paid tax and pay into my new pension scheme?
Hi,
If you have returned to employment you will now need to wait until after 6 April 2025 for any refund as we will need to know your annual income to work this out. what you then do with any repayment due is up to you.
Thank you.