HMRC Admin 20 Response
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RE: Allowable deductions for Capital Gains Tax
Hi,
No as the expenditure must have been incurred wholly and exclusively for the purposes of the acquisition or disposal.
See guidance at CG15250 - Expenditure: incidental costs of acquisition and disposal
Thank you. -
RE: P85 with no fixed address in new country
Hi,
You will need to wait until you have all the details before submitting the form P85.
Thank you. -
RE: Sole Trader Borrowing
Hi,
No as you will have already claimed relief to buy the inventory.
Thank you. -
RE: Negligible loss claim against and EIS investment
Hi,
Pease refer to guidance at:- HS286 Negligible value claims and Income Tax losses on disposals of shares you have subscribed for in qualifying trading companies (2024)
Thank you. -
RE: Can I make changes before "Submit your return"?
Hi,
Please see the link to the following guidance : Self Assessment tax returns If you need to change your return
Thank you. -
RE: P85 for past years
Hi Imran,
If leaving the UK then the P85 should be submitted.
For details of how to submit see Get your Income Tax right if you're leaving the UK (P85)
Thank you. -
RE: CGT on Shares held in Deed of Trust
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RE: Tax on bonus paid after change in tax residence
Hi,
This depends on your tax residence for the year.
If UK resident and domicile then you are liable on your worldwide income.
Thank you. -
RE: CGT and probate property value
Hi,
Yes it is acceptable.
Thank you. -
RE: Re-imbursed Expenses Foreign Comapny
Hi,
You will include them as income and then deduct again as expenses.
Thank you.