HMRC Admin 20 Response

Hi 
You would have a capital gain / loss on the disposal of the shares.  
Only after they are acquired from within your ISA, would they be exempt from capital gains tax.  
Please have a look at helpsheet HS284.  HS284 Shares and Capital Gains Tax (2024)
Thank you.

Hi 
Please refer to guidance at HS265 Offshore funds.
Thank you.

Hi ferdischwarz7,
Please have a look at HS222 (HS222 How to calculate your taxable profits (2024)) for guidance in entereing / leaving the cash basis.  
There is an example at BIM70071
Thank you.

Hi Tim,
You could look to claim negligable value in repsect of your investment - see:
Negligible value claims and Income Tax losses on disposal of shares (Self Assessment helpsheet HS286)
Thank you.

Hi 
There is no capital gains tax liability on the transfer of assets between spouses and civil partners, from 6 April 2023 separating spouses or civil partners are given up to three years after the year they cease to live together in which to make no gain or no loss transfers.  
This means your wife will acquire the property at the 2004 value.  
If she then disposes of the property, she will be able to claim private residence relief for the period in which the property was her main residence.  any remaining gain will be chargeable to capital gains tax.  
Have a look at the guidance on private residence relief at HS283 Private Residence Relief (2024) Updated 6 April 2024
Thank you.

Hi 
please refer to Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you.

Hi Sarah,
Please clear cache and cookie. 
Edge
Select the Three horizontal dots (describes as ""Settings and more"") from the right-hand top corner.
Select ""Settings"" from the list that appears.
Select ""Privacy & security"" from the right of the menu that appears.
Locate the ""Clear browsing data"" section.
Select the ""Choose what to clear"" button.
Ensure there is a tick in the ""Browsing history"" cookies and saved website data, Cached data and files and the Tabs I've set aside or recently closed checkboxes.
Select ""Clear""
Click the Chrome menu on the browser toolbar (3 small dots in top right-hand corner of screen).
Select More Tools > Clear browsing data.
Choose a time range at the top. To delete everything select All time.
Select Clear data.

If this persists please call the Technical support with HMRC online services
Thank you.

 

Hi Paul,
When we issue a migration notice you are given 3 months to claim Universal Credit.  
If you claim before this time then action will be taken once we receive a notice from DWP that a claim has been received.  
If you do not claim UC then we will end the claim after the 3 month period, at this point you will receive an In Year Finalisation.
We are unable to check your award but following the above process youshould have received the In Year Finalisation by now.
Thank you.

Hi TomB,
Unfortunately we cannot assist you with Inheritance Tax queries on this forum, please visit How Inheritance Tax works: thresholds, rules and allowances for further information or contact Inheritance Tax directly by visiting Inheritance Tax: general enquiries .
Thank you.

Hi Mramji90,
As sole owner of the property you have beneficial ownership of any income arising, TSEM9160 - Ownership and income tax: legal background: ownership - income follows property refers. You will need to make a declaration of trust to transfer all or part of the rental income to your wife, please refer to TSEM9520 - Ownership and income tax: express trusts - written declarationwhich explains how to do this.
Thank you.