HMRC Admin 20 Response

Hi Carla Baronco,
I regret that we are unable to answer your question in this forum.  
You will need to telephone our self assessment helpline on 0300 200 3310, to provide more information, as you can be considered to the be the legal owner and the beneficial owner of the property from purchase in 1993.

Thank you.

Hi Kelvin HO,

Per the guidance for box 40 - Please put any additional information in this box, for example, any: 
•     nominated income or gains 
•     UK Gift Aid donations 
•     double taxation relief claims 
•     remitted nominated foreign income or gains (in excess of £10) during the 2022 to 2023 tax year, that cover more than 1 tax year 
•     investment that no longer qualifies for relief 
•     details of remitted foreign income or gains if you are deemed UK domicile 
•     income received from shares or securities in a non-UK company that are treated as shares or securities in a UK company because of 
      an exchange taking place on or after 17 November 2022 
If you have already sent in your return, you can now advise of  this additional information in letter form

Thank you

Hi ACTS,

Where the only source of foreign income is untaxed interest of less than £2000.00, you can declare it in box 3 of SA100 instead of declaring on SA106.  
It is the same with foreign dividends.  You can declare up to £2000.00 of foreign dividends in box 6 of SA100, instead of SA106.  
In instances where you cannot declare the foreign income and dividends in boxes 3 and 6, then you need to declare on SA106.
Self assessment is completed using whole pounds only.  You round up or round down to whole pounds to your advantage.  
Where the amount interest is below £1.00, then this does not need to be declared, as rounding down would mean it is £0.00.  
When stating no matter how small the amount, the meaning was that when rounded up or down, the whole pounds was £1 or more.

Thank you.

Hi Amanda Waite,

If you are resident in the UK at the time of vesting, the RSU's will be taxable as interest in the UK and not the US.  
If you are resident in the US at the time of vesting, they will be taxable in the US and not the UK.

Thank you.

Hi wongsm,

HMRC cannot comment on future events as legislation may change. For current rules, please refer to How Inheritance Tax works: thresholds, rules and allowances

Thank you.

Hi angelac,

No,  There is no need to declare a tax refund to HMRC.

Thank you.

Hi Circlesofconfusion,

Please complete the self assessment tool at Check if you need to send a Self Assessment tax return, for 22/23.
If you are advised that you do not need to complete a tax return for 22/23, then contact the self assessment helpine on 0300 200 3310 or by using the webchat facility (Self Assessment: general enquiries) and advise that you have completed the SA tool and don't meet the criteria for a 22/23 tax return.  
My colleagues can then withdraw the tax return, allowing your self assessment record to remain live, so that future tax returns are requested.

Thank you.
 

Hi Stephen Redfern,

Once the assets are transferred, any CGT is then due if/when any of the properties are sold and is based on 100% ownership from the date the property was purchased -
see Capital Gains Tax: what you pay it on, rates and allowances.

Thank you.

Hi Alex Pun,

A S104 holding is a pool of shares of the same class in the same company.  
Please refer to CG51575 - Share identification rules for capital gains tax from 6.4.2008: the Section 104 holding in detail for more detail about a S104 holding,
and also CG51560 - Share identification rules for capital gains tax from 6.4.2008: the “same day” and “bed and breakfast” identification rules for guidance on the 'bed and breakfasting' rules. Also CG51575 - Share identification rules for capital gains tax from 6.4.2008: the Section 104 holding in detail

Thank you."

Hi subash krishnawarriar,

If you are UK tax resident and domiciled, you need to report it even if not brought to the UK.
If higher rate, your savings allowance is only £500 and if basic rate it is £1000 and you will be taxed on the difference.
If not  domicilled, please refer toPaying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you.