HMRC Admin 20 Response

Hi Edward,
This was a typing error - it should read - own shares in the original compay and the subsidiary.
Thank you.

Hi Andrew,
You would declare the full gain in the year the disposal was made. for the deferred consideration, that would need to wait until you know whats happening with the unpaid payment.
Thank you.

Hi James Hemmings,
HMRC cannot give out financial advice.  
You will need to seek the advice of a professional, for an answer to your question.
Thank you.


 

Hi Iris Look,
Add together the aquisition costs
1 - 50% of the acquisition cost in 2013 and
2 - 50% of the acquisition cost in 2019.  
Deduct this total including your costs such as stamp duty, solicitors fees etc.  
If you are left with a positive figure, this is the amount of gain and if a negative figure, the loss.  
In addition to this, you also have private residence relief that you can set against the gain.
 HS283 Private Residence Relief (2023)
Thank you.

 

Hi ejong918,
Please complete the self assessment criteria tool, to ensure that a tax return is not required for some other reason.  
Check if you need to send a Self Assessment tax return.  
If the tool confirms that a tax return is not required, you do not need to register for self assessment.
Thank you.
 

Hi Abhishek Parasrampuria,
There are no tax implications from cash gifts other than that any interest or dividends that the gift generate will be taxable.  
There are no limits on the frequency of cash gifts from a tax perspective.  
As long as the transfer is from bank to bank, the banks will deal with this.  
Any interest or dividends that arise in the tax year from the gift are taxable at the relevant UK rates, regardless of nationality, as you are resident in the UK.
Thank you.
 

Hi RSU_FTC_questions,
RSU's are taxed as income and can attract a foreign tax credit of up to 100% of the foreign tax paid.  
Complete your tax return in full, minus the foreign tax credit.  
View your tax calculation and note how much tax is being charged against the RSU's.  
The FTCR will be the lower of the UK tax payable on the RSU income or the foreign tax paid.
Thank you.

 

Hi BB-54,
You will need to write to HMRC to request a liability decision.
The address to write to is:
PT Operations North East England
International Caseworker
HM Revenue and Customs
BX9 1AN
Please provide the following information:
•    Your full name
•    Your National Insurance number
•    Your date of birth
•    The date you left the UK – if applicable
•    Your most recent UK address
•    Your address abroad – if applicable
•    The type of work you do
•    Your company name and address – UK and abroad
•    Where your contract is held
•    How often you work in the UK
•    Your normal working pattern (the days, weeks or months you regularly work)
Thank you.


 

Hi George Michaelson,
The changes to class 2 National Insurance contributions only affect customers that are liable to pay them.  
If you are overseas and paying the class 2 contributions on a voluntary basis then the changes do not affect you and normal rules would apply.
Thank you.