HMRC Admin 20 Response
-
RE: Questions on Foreign Currency Taxation
Hi,
Please refer to Paying tax on the remittance basis (Self Assessment helpsheet HS264) as you need to declare the gain in the UK
Thank you. -
RE: CGT when selling only property
-
RE: Transferring Savings with Interest Accrued Pre-UK Residency
Hi,
As you were not a UK resident when you accrued your savings, they are not taxable in the UK.
Thre are no tax implications on transfering your capital to the UK.
You would be liable to tax on any interst your savings generate.
Thank you. -
RE: CGT on inherited property. 50% in one year and another 50% in another year, how to calculate.
Hi,
You take your share when initially acquired in 2005 and then again in 2017. added together, this is your purchase price to then work out any gain due.
Thank you. -
RE: Non-qualifying insurance policy - gain
Hi,
HMRC cannot comment on future events as legislation and/or palns may change.
For current guidance, please refer to HS321 Gains on foreign life insurance policies (2024)
Thank you. -
RE: Am I still classified as self-employed if earnings for the financial year were less than £1000
Hi Kata,
If you do not meet the criteria for Self Assessment then you do not need to submit a tax return.
You can check if you meet the criteria at Check if you need to send a Self Assessment tax return
Thank you. -
RE: Capital gains tax
Hi,
This will still be the property disposal form and you are now selling 100% rather than 50%.
Your purchase price is your half when originally purchased and the other 50% of the value when your husband passed.
Thank you. -
RE: Can I use the CGT real time transaction return for 2024-25 gains?
Hi,
There should be an option to enter the date of the sale so that it is the correct year and annual allowance.
As this is a 'live' site, we cannot enter it. however, there will also be an option on each page that states get help with this page for you to click on to report any issues.
Thank you. -
CGT share disposal rules and ISA/SIPP
Hi,
Shares in an ISA are not liable to CGT so this will not apply.
For the SIPP, you are not buying/selling the shares as it is the pension fund that is doing this to increase your pension for when you withdraw it.
Thank you. -
RE: Proposed Visitor Levy
Hi,
Yes this still counts as income.
Thank you.