HMRC Admin 20 Response

Hi,
Unfortunately, it is not possible to review personal matters in this forum.  
For individualised assistance please contact our self assessment helpline or contact our webchat Self Assessment: general enquiries
Thank you.

Hi,
Yes as the sale is in the 23/24 tax year so you need to report it again in the return before 31/1/25.
Thank you.

Hi,
As you have not confirmed which type of income is actually generated from the trust, we cannot confirm which type, if any, UK taxes will apply.
As the funds have not actually been given out as yet we also cannot comment as legislation may change.
Thank you.

Hi,
This forum is for general queries only and is intended to help you self-serve.
We are unable to provide specific advice tailored to individual circumstances, we also cannot comment on future events.
Thank you.

Hi Westmorland,
The completion date would be the date you officially hand over the share so yes you can use the declaration of trust date.
When completing the property disposal return it asks how much of the property is being disposed of.
Thank you.

Hi Deepsea,
There is no tax due on cash gifts so the contract is a personal choice and up to you if you wish to do this through a solicitor.
Thank you.

Hi,
This forum does not deal with IHT,  you will therefore need to contact them direct on 0300 123 1072 to confirm.
Thank you.

Hi,
The individual should contact HMRC direct to confirm their change in circumstances to have the tax code changed
Contact HMRC
They will look at the tax code and will issue a P6 with the new code. 
Thank you.

 

Hi,
You take the value at 5/4/17 from the value at the time of withdrawal and the difference is what you are taxed on.
Thank you.

Hi Nnyk,
As on the deeds she is a legal owner of the property. you would need to provide a declaration of trust to show that she has 0% interest as a beneficial owner so that no CGT would be due. this would need to be submitted prior to selling.
Thank you.