HMRC Admin 20 Response
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RE: Joint owned property Gains- Father (main residence) Son (second residence)
Hi,
You would need to consider the guidance at CG14530 - Consideration for disposal: market value rule onwards, when working out if your father has a gain after private residence relief is applied. (HS283 Private Residence Relief (2024)).
There is a calculator at Tax when you sell property to help you work this out.
As this is a second property for you, you may have a capital gains liability, if you dispose of the property.
We are unable to advise on stamp duty in this forum.
Thank you.
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RE: Self Assessment Amendment - Student Loan
Hi,
You will need to contact the self assessment helpline on 0300 200 3310 or contact our webchat facility at Contact HMRC, to progress chase the changes to your tax code.
This is not something we can do in this forum.
Thank you. -
RE:When to declare CGT on Transfer of Property
Hi,
Please refer to the following Guidance - Report and pay your Capital Gains Tax - the 60 day reporting period starts from the completion date the transfer takes place.
Thank you. -
RE: Transferring money from abroad (Mex to UK)
Hi,
No. Cash gifts are not taxable.
Thank you. -
RE: Capital Loss on Non-Uk property
Hi,
Yes.
You will need to change all values to GBP Sterling, to work out the loss using UK rules.
To convert to Sterling, you need to use a just and reasonable exchange rate that would be in use at the time or acquistion or disposal.
You are free to use any of the HMRC exchange rates at Exchange rates from HMRC in CSV and XML format or you can obtain from a source of your choosing,
such as the London stock exchange.
There is a calculator at Tax when you sell shares to help work out the loss.
The disposal of the shares and the loss should be declared in a self assesment tax return, so that you can elect to carry the loss forward.
Thank you. -
RE: Income and gains from offshore mutual funds
Hi matcha,
Please refer to guidance at Remittance basis 2024 (HS264) and HS265 Offshore funds
Thank you. -
RE: Confusion about telling HMRC that I’ve left the UK to live abroad permanently
Hi L. Czekala,
You cannot submit the return until after 6/4/25 and the updated SA109 will be available then to tie in with the 24/25 dates.
Thank you. -
RE: Adjusted Net Income (Tax Free Childcare and 30 free hours) - Salary Sacrifice
Hi Katherine,
It would be the figures for the tax year you are calculating the income for see:-Personal Allowances: adjusted net income
Thank you.
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RE: Help with declaring tax on foreign income
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RE: Self Assessment Penalties
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.