CF W

Thank you for your advice! May I have the contact where we can write to HMRC for our situation? Thank you very much!

Hello HMRC Admin, My wife and I have a property in Malaysia with 50/50 equal weight of shares and let for rent in 2023-2024. On the other hand, we also applied for split year treatment for tax year 2023 to 2024. The question are as below. 1. If the rental incomes started from the split year treatment date to 5 April 2024 is NOT exceed £1000, do we still need to report tax return in SA106 through self assessment? 2. Do we both have the Property Income Tax allowance of £1000 each? 3. If we DO NOT need to report property income tax, can we still report the Mortgage Interest as the finance costs to be carried forward? Thank you.

Thank you for your advice. On the other hand, if husband's account received some bank interest, then can the received interest share between husband and wife equally as this bank account is ONLY used for the property mortgage. Thank you so much!

Hi Admin, Thank you for your reply. Then another question we would like to ask. The bank account only has the name of husband, but the property is registered in joint owners of both of us with equal weight of share. May I know whether the interest incurred from the money under the account of the husband can equally share with wife when reported in the tax return? Thank you.

Hi HMRC admins, I and my wife have a joint stocks and shares account in a broker and also I have a single account in this broker too. Some of the stocks and shares were transferred from the joint account to my single account through the INTERNAL TRANSFER without any disposal. My questions as below: 1. Whether those kind of activities defined as disposal and acquisition? 2. If it was defined as a transaction, how can I defined the buy/sell prices as the transfer only between two accounts which are also under the name of husband. 3. Do I need to report this kind of activities in the CGT of self assessment although there is NO Capital Gain or Loss? Thank you.

Hi HMRC Admin, My wife and I have an oversea property and the property has a mortgage with an oversea bank. The mortgage account has some money for monthly repayment. And those money received bank interest and offset partial mortgage interest. The question is how can we report the bank interest and the mortgage interest? Can we claim the mortgage interest for the tax relief from 2023-2024 tax year? Thank you

Dear Officer, Thank you for your clarification. Regards,

Dear Officer, Thank you for your reply. Yes, I will report the disposal on the self assessment tax return for capital gains purpose if there is. However, my concern is beside the Capital Gain Tax, whether there is any other tax I need to pay for IF I remit the money which is obtain from selling this property oversea after I paid the CGT to the UK? Thank you.

Dear Office, I don't quite understand. The money which is used for buying the property is from our saving in many years. We now sell the property and paid the CGT to the UK if there is capital gain. Why this money will become our income and we still needed to pay income tax if remit to the UK? Please help to clarify. Thank you.

Dear Officer, Thank you for your reply. As we are not familiar with the tax regulations of the UK, we would like to have your confirmation for the below. After we paid the CGT to the UK, the capital which is obtained from selling the property will be remitted into the UK and DOES NOT need to be tax again. Thank you so much. 

Name removed admin .