AUNZUK-Tax
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How/where to report foreign capital gain on self-assessment?
Situation: - Dec '17 purchased property in Australia for AUD $695k (owned 50:50 with partner) - Nov '19 relocated to the UK (UK domiciled) - Jul '21 sold property in Australia for AUD $1m - No tax payable in AU because of their primary residence rules My understanding (correct me if wrong): - UK CGT is payable - UK CGT would be reduced because it was my/our residence (21 months out of 44 months) - As a jointly owned asset each of us should report and pay based on 50% of the total (and our own allowances, etc) Question: 1) Where and how do I enter this information into the self-assessment? -
Self-assessment for 2017-18
Hi I recently found out that I need to complete self-assessment for UK tax (because of a foreign property), and registered for a UTR/self-assessment (date of letter 10 Feb, so I'm working towards 10 May as the deadline). In the self-assessment I can see forms to complete for - 2018-19 - 2019-20 - 2020-21 However I have realised that I also need to complete a self-assessment for 2017-18 (pension contributions from post-tax pay). How do I add this? Thanks -
Residential property finance costs
I have two questions: Question 1: Where should finance costs (interest, bank fees, etc) be reported in the online self-assessment? There are two sections where this appears to be reportable: A) "Property expenses (rent, repairs, legal fees, cost of services provided)" the help text provided is unclear, however it says "Allowable expenses may include... interest and other finance charges" with some further notes about only being able to claim X% of that depending on the tax year. B) "Residential finance costs not included in 'Property expenses' (rent, repairs, legal fees, cost of services provided)" this seems to indicate that these costs should NOT be reported in (A) but should be separately reported. Question 2: IF finance costs should be reported in (B) and not in (C) then how do I resolve the situation where finance costs (B) exceed the non-finance costs (A)? For 2018-19 I am trying to report: A) "Property expenses (rent, repairs, legal fees, cost of services provided)" of 2650.00 B) "Residential finance costs not included in 'Property expenses'" of 4489.00 However I am getting an error: "If 'Residential finance costs' are present then they should be less than or equal to 'Property expenses'...."