zontes
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RE: Aportioning let time and owner occupation time
I understand that the formula is: Main residence time + 9months divided by time owned = percentage exempt from CGT...... please confirm. -
Aportioning let time and owner occupation time
If we lived in house for 250 weeks, then let it for 500 weeks right up to sale...... Do we assume a third of capital gain negated; but I read that we ignore last 9 months, do we ignore just the letting in last 9 months, or how else do we calculate please? -
Selling ex-family home....
15 years ago self, wife and adult daughter lived in and owned jointly (3 ways) a house (A). Mother ,who lived alone elsewhere became ill so all 3 of us moved to her house to help. We let our own house (A) some 10 years ago. Subsequently we inherited mother’s house and it became our main residence, again jointly. We now want to sell our original house (A)and understand that we must declare 1/3 each for cgt. subject to deduction (also a third) for time we lived there, is this so? Are there any other concessions beyond occupation time deduction and personal allowance each? -
RE: SA100 and foreign capital gain.
Great, thank you. Please advise what should be in Box 8 of CG1 (SA108) for FTRC claim? -
SA100 and foreign capital gain.
During 23/24 I sold my Spanish holiday home, I am therefore completing an SA100, SA108 and also SA106 (for FTCR on this sale). In SA106 do I complete page F6 only? In SA108 do I complete only 1 to 6, (as 7 and 9 to 13 don't apply)? Is there a code for box 8 to indicate FTCR claim? Do I need to do anything else, or will HMRC complete calculation and inform me of any payment due? thanks. -
SA 100 required to declare foreign sale?
My oap plus other small income has not exceeded personal allowance for some years and I was informed by HMRC that s/e returns not required or expected. During 23/24 I sold my Spanish holiday home above a certain threshold, so understand that I must submit a SA100 to declare this..... As SA100 does not include mention of foreign C/Gain can I assume that by completing it and also selecting boxes 5&7 for SA108 and SA106(for FTCR) this will be the correct and complete way to proceed? -
RE: Claiming Foreign Tax Credit for Property Sale in France
Does this mean that you reduce the cgt deducted in France to just your liability in order to arrive at zero .... my foreign tax is more than my uk liability would be, but can I leave hmrc to do calculation? I'm not even sure where on SA100/SA106 i should enter the information.... any advice please? Sale of eu holiday home where tax deducted abroad exceeds "capital gain minus annual allowance"
Name removed admin . -
RE: Holiday home abroad sale
Thank you: Should I therefore submit SA100, SA108, and SA106? Any others... 1) In completing SA100, should I answer yes to ss:5, 7 &9? 2) In completing SA108 do I complete foreign holiday home in 3 to 13, or 14 to 22? 3) do I need SA106 to declare FTCR deducted in Spain? Where do I enter CGT on SA106? Thanks!! -
Holiday home abroad sale
In May 2023 I sold my holiday home in Spain. I will include this on my self assessment return for 23/24. I calculate that around £4,000 would be due in CGT, except that already £5,205 has been deducted as Spanish cgtax. Presumably this can be offset against the 4K meaning no tax payable...... Can I do this all on my s/assessment return, or is there something else I need to complete in order to offset? Thanks.