HMRC Admin 20 Response

Hi Tamsin Smith,
Yes you will need to declare the gain in a self assessment tax return on SA108.  
As you received a full refund of capital gains tax in India, you cannot claim overseas tax relief, as no overseas tax was paid.
Thank you.

Hi Sartaj Singh,
It is £60000 in total from employment and self employment income.
Thank you.
 

Hi sultana,
You will need to declare the chargeable event and pay tax on this.
This is not the same as a capital gain so you cannot claim capital losses against  this.
Thank you.

Hi CGT TAX,

1. You will need to make a guess at what you will earn based on the reduction in hours    
2. Yes you need to include rental income received    
3. If the property is jointly owned, then yes it needs to be declared 50/50 as does the gain unless you have already provided a claim
for an alternative split of  any beneficial interest
Thank you.

Hi Lai Man Lau,
If you qualify for split year then you only report any foreign income for the UK part of the year RDRM12000 - Residence: The SRT: Split year treatment.
If you do not qualify then you will need to report all your foreign income to the UK Tax on foreign income.  
The guidance at RDRM12150  will help you work out if split year treatment applies. 
Thank you.

Hi Merwyn,
As the payment is from your employer, the income should be shown in the employment section if it is included in your P60.
You would then claim credit for the Tax in the foreign section under 'Employment, self-employment and other income which you paid foreign tax on'.
If it's not included in your P60, please include it on the box on the employment page for 'Tips and other payments not included on your P60'.
Thank you.

Hi PenT,
It should not be taxing the dividends at 20%. anthing over the allowance of £2000 should be done at 33.75. Please recheck your entries and also view the calculation to confirm the correct rate applied.
Thank you.

Hi Very Annoyed,
By signing the deed of assignment, you have legally transferred your right to the repayment to the assignee - Brooksdale - and as such they are entitled to receive their share. Unfortunatly there is nothing HMRC can do for you in this case.
Thank you.

Hi 
Once you submit your Self Assessment it can take up to 3 working days to process to HMRC records.
If you have submitted the tax return and the details have still not updated on your online account then you will need to contact HMRC to review.
Thank you. 

Hi MANNH,
This is seen as a cash gift and no tax is due.
Thank you.