HMRC Admin 20 Response

Hi,
No.  
The UK self assessment tax return is for income and capital gains taxable in the UK.  
As your property is in the UK, you complete the return.  
If you have UK bank interest or dividends, then they also are incldued.  
Any income or capital gains arising outside of the UK would not appear in the tax return.
Thank you.

Hi,
Please refer to HS321 Gains on foreign life insurance policies (2024)
Thank you.

Hi,
Unfortunately, it is not possible to check individual tax records through this forum, for questions which relate to your personal tax situation or tax code please contact our helpline:
Income Tax: general enquiries
Customers with more complex enquiries often engage the services of a professional advisor or accountant and this may be something you wish to consider.
Thank you.

Hi Randeep,
Unfortunately, it is not possible to check individual tax records through this forum, for questions which relate to your personal tax situation or tax code please contact our helpline:
Income Tax: general enquiries
Thank you.

Hi Honeypot George,
You would need to check with the IHT department on 0300 123 1072.
Thank you.
 

Hi,
Yes as it is foreign income.
Thank you.
 

Hi, M_123,
Yes as they would then be legal owners they would be liable for their share of the rental income.
If they want to exempt from this, a declaration of trust would need to be submitted showing that you and your wife are still the beneficial owners of any rental income received.
For stamp duty please refer to Stamp Duty Land Tax
Thank you.

Hi Oliver,
Please refer to guidance at Tax on your UK income if you live abroad.
Thank you.

Hi,
Your initial 50% cost was 100k and the purchase of the other 50% was the market value £165k.  Add both together to obtain your acquisition cost for 100% of the property.
Thank you.

Hi,
Currently, Inheritance Tax is only due when a person's estate is worth over £325,000 when they die, or if the person who died gave away more than £325,000 in gifts in the 7 years before they died.
You can find out more information here: Work out Inheritance Tax due on gifts
Thank you.