HMRC Admin 17 Response
Joined: 1/20/2021
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RE: Rental income transfer to my wife
Hi ,
Thank you for your question, the property income would be apportioned to match
each persons share from the date the agreement came in to place.
Thank you .
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RE : Does interest income reduce personal allowance even if covered by PSA?
Hi ,
That's correct, as bank interest received is included in your adjusted net income calculation see :
Income Tax rates and Personal Allowances .
Thank you . -
RE : Split year case 4
Hi ,
RDRM12150
(: RDRM12150 - Residence: The SRT: Split year treatment: Case 4: Starting to have a home in the UK only )
advises that Case 4 is for "Starting to have a home in the UK only".
In the example Olan 'started to have his only home in the UK during the tax year and that continued until at least the end of the tax year'.
You would meet this rule once your rental contract in the other country ends, if you started to have your
only home in the UK during the tax year and that continued until at least the end of the tax year.
Thank you . -
RE: trading in platform with exchange brokers UK
Hi ,
You still have to report the interest, as it will be included in your tax calculations.
It may be covered by the interest savings allowance or it may mean you exceed this allowance and tax is payable.
Thank you . -
RE : Certificate of Residence
Hi ,
A certificate of residence is only appropriate to UK residents.
If you were a UK resident up to August, that is the latest you can request a certificate of residence to.
In the date of arrival, enter your date of birth .
Thank you . -
RE: Annual exempt ammount
Hi ,
You would calculate the capital gain liability in the tax year that each share was disposed of,
using the AEA relating to that tax year.
Thank you -
RE: Capital gain computation worksheet for shares
Hi ,
We cannot comment on scenarios.
You can submit up to 20 worksheets.
You could include all share disposals of the same type in one worksheet, using the earliest date of acquistion and the latest date of disposal.
If you want you can use a spreadsheet to itemise all acquistions and disposals and use the summary figures to report the gain or loss.
You can save the spreadsheet as a pdf file by selecting file and export.
This pdf file can be attached to the tax return, to support your figures.
Thank you -
RE : capital losses on Gilts
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RE: Do I need to complete self assessment if I am not a TR?
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RE : Clarification on ISA Accumulate Balance Limit
Hi ,
We cannot comment on any form of calculation/example or scenario, whether fact or fiction.
We can only point you the direction of the guidance, so that you can review the guidance and
to allow you to make an informed decision.
Guidance on ISA's is held at :
Individual Savings Accounts (ISAs) .
Thank you .