HMRC Admin 20 Response

Hi b-c,
Interest earned in an ISA is tax free and does not need to be declared.
Thank you.

Hi,
You are correct in that CGT will be due on your share of the property but there are no tax implications on your mother gifting her profit to you.
Thank you.

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).   
How Inheritance Tax works: thresholds, rules and allowances
Thank you.

Hi,
UK-REITS and NON UK REITS are vehicles that allows an investor to obtain broadly similar returns from their investment, as they would have, had they invested
directly in property.  
In the hands of the shareholder, the profits paid out are known as property income distributions or dividends (PIDs) and are taxable in the same way as profits of a
UK property rental business.  
Where Non UK REITs are distributed, the profits and foreign tax deducted are declared in the foreign sections under 'income from land and property abroad', where a
foreign tax credit can be claimed.  
They are not taxed as dividends, but as property income.  
Foreign tax credit relief is restriced in a similar way to dividends.
Thank you.

Hi,
This sounds more like commodities so would be liable to capital gains tax.
Thank you.

Hi,
Please refer to guidance at HS320 Gains on UK life insurance policies (2024)
Thank you.

Hi,
Please refer to guidance at HS320 Gains on UK life insurance policies (2024)
Thank you.

Hi,
To give you the right advice here, we may need to confirm some elements of your query, and access your record.
Please therefor contact us by webchat or phone via Self Assessment: general enquiries to allow us to do this.
Thank you.

Hi,
Selling REIT (Real Estate Investment Trust) and UK tax implications:
•    UK investors are subject to normal capital gains tax rules on REIT share sales.
•    Non-resident investors may also be liable for capital gains tax or corporation tax on REIT share sales
•    Most UK double tax treaties provide for a reduced withholding tax rate of 15% for distributions to non-UK tax resident investors
•    REITs receive income from rents and are exempt from corporation tax on property rental income and gains, provided certain conditions are met
Thank you.

Hi,
If your ticket included a donation of 10% or over on the ticket price, and you signed the gift aid declaration, then your ticket would qualify for gift aid relief.
Thank you.