HMRC Admin 20 Response
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RE: Can I correct a submitted return?
Hi,
You can go back into the capital gains account and amend your figures or wait until after the end of the tax year to show the information on the actual tax return.
Thank you. -
RE: Gift from foreign property sale proceeds
Hi,
There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here (Tax on savings interest and Tax on dividends).
Thank you.
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RE: GCT on sale of property
Hi,
Per current legilsation, as your main residence, there is no gain to report on property A, we cannot comment on future events as legislation may change.
You will however need to report any gain on property B.
Private residence relief
Thank you. -
RE: Self assessment for bank interest and Gilt coupon payment
Hi,
Deeply Discounted Securities’ (DDS) are government securities, commercial bonds and loan stock, where the amount paid on redemption is higher than the price at which they were issued. The difference is the discount and represents the whole or part of the reward to the holder of the security for the use of the money borrowed by the security issuer. Where certain conditions apply, the tax rules ensure that gains on such securities are taxed as income, rather than as capital gains. (SAIM3010 - Deeply discounted securities: introduction).
If you invest in deeply discounted securities, put the difference between what you paid for the bond and what you redeem or sell it for in box 3 of SA101 (page Ai1).
Thank you. -
RE: Sensitive Ties Test - Accommodation Transfer
Hi,
1. HMRC cannot advise you on this as your residence and relevant ties are for you to determine. we also cannot offer any related fiancial advice.
2. if you do sell a UK property and return to the UK then further charges may be due. you may therefore wish to employ the services of a financial adviser.
Thank you. -
RE: Seaman’s Tax
Hi,
Any agreement on who pays the tax or gets a refund is between you and your employer.
Guidance on seafarers is at Seafarers Earnings Deduction: tax relief if you work on a ship
Thank you. -
RE: CGT Visibility - Calculations and £ Due
Hi,
A calculation will have been issued to show the tax due, it is likely you will need to contact us direct to discuss this further.
You can do this via webchat - Self Assessment tax returns How to get help - select digital help
Thank you. -
RE: CGT on transferred shares.
Hi,
Yes that is correct.
Thank you.
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RE: UTR for non-resident member of UK LLP
Hi,
Please refer to Check when you can expect a reply from HMRC or telephone 0300 200 3300 for an update.
Thank you. -
RE: Is there a CGT tax liability on a house which was occupied by my father and sister?
Hi,
Yes it is likely that CGT will be due on your share - Capital Gains Tax: what you pay it on, rates and allowances
Thank you.