HMRC Admin 25 Response

Hi Starizon,
Please refer to:
Tax on your UK income if you live abroad
Thank you. 
 

Hi Lightbulbmoment G,
When you submit the tax return the tax due on your savings income will be collected through your Self Assessment tax return.
Once your tax return is filed your tax code would then be reviewed.
If you do not want the savings collected in the tax code going forward you need to answer 'NO' to the question on the online tax return.
If you are likely to owe tax for the current tax year (ends 5 April 2025) on income other than employed earnings/pensions e.g. savings or the High Income Child Benefit Charge, do you want us to use your 6 April 2024 to 5 April 2025 PAYE tax code to collect that tax during the year?
Thank you. 

Hi Turmeric,
The provider of the mortgage is not relevant.
For current rules you would not have Capital Gains Tax to pay as the freehold is being transferred to you and you are not disposing of anything.
We cannot say this will be the same in the future as legislation may change.
Thank you. 

Hi Michael, 
The CGT allowance for 24/25 is only £3000 and not £6000 so it will be anything above this that is liable.
There is no tolerance as such in respect of the exchange rate as you can use spot rates at any time as long as they are within the relevant tax year.
Thank you. 
 

Hi Marion,
She can claim Private Residential Relief  up to the date she left the property.
For the final 36 months, please refer to:
CG64986 - Private residence relief: final period exemption: disposals by disabled persons etc. from 6 April 2014
Thank you. 

Hi Cherry,
You would need to include the HS302 with your tax return so that this can be verified and then telephone to have your tax code amended going forward.
Here is a link to the guidance for HS302
Dual residency (Self Assessment helpsheet HS302)
Thank you. 

Hi Chris,
To confirm, yes it is definitive.
Thank you. 

Hi Marta,
You can attach it as a PDF.
There is a section at the end of your return that allows you to attach documents.
Thank you. 

Hi Patrickdrums Patrick,
If a UK property, you do not need to report within the 60 days.
You can then report it within your 2024/25 tax return so that it can then be offset against the gain already declared.
Thank you. 

Hi Einar Arne LOMAHAUG,
The wording cannot be tailored.
You will either be issued with a certificate if you have foreign income, or a letter of confirmation if you do not.
Thank you,