HMRC Admin 17 Response
Joined: 1/20/2021
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RE: CGT payable by non resident on property acquired at different dates
Hi ,
You would only submit the one non resident capital gains return form.
You will need to obtain the rebased value at April 2015 and work out 25% of the value.
You will then need to obtain the probate value of the property and work out 1/3 of your father's 25% share.
You add both values together to obtain your acquistion cost.
This is then deducted from your share of the disposal value, from which you also deduct your share of the disposal costs.
There is a capital gains calculator at :
Tax when you sell your home , to help you work out your capital gain .
Thank you . -
RE: CGT: Time Scales for HMRC to issue X reference
Hi ,
We have a backlog of paper capital gains return forms (PPDCGT), residential property and online realtime transactions (RTTCGT)
for other capital gains disposals.
We are working through these forms as quickly as possible, but expect that it could take another 6 weeks or so to deal with your form.
Thank you . -
RE: SIPP and Remittance Basis
Hi ,
Only if your overall income was liable at higher rate .
Thank you . -
RE: Pension contributions to reduce tax band
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RE: Who is responsible if interest earned is not reported to HMRC?
Hi ,
If the total interest is below £10,000 you can report via your personal tax account
or by sending a letter .
Thank you . -
RE : Income from SEG payments
Hi ,
Please refer to :
BIM40520 - Specific receipts: domestic microgeneration: Income Tax exemption for domestic microgeneration .
Thank you . -
RE : CGT on house sale
Hi ,
Please refer to :
CG15250 - Expenditure: incidental costs of acquisition and disposal and
Capital Gains Tax: what you pay it on, rates and allowances .
Thank you . -
RE : CGT for a Probate Property
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RE: Deductible Items from calculating the capital gain
Hi ,
Please refer to :
CG15250 - Expenditure: incidental costs of acquisition and disposal
for allowable costs .
Thank you . -
RE: VAT Threshold for work completed outside UK
Hi.
If you are buying and selling goods in the EU then this will be Outside Of The Scope Of UK VAT as the goods do not enter the UK.
The applicable VAT rate for the goods will be charged in the country where the supply of goods is deemed to be made.
Also if you are selling goods within the EU then there could be a requirement to register for VAT in the member state where your supply is taking place .
Thank you .