HMRC Admin 25
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RE: China-UK double taxation agreement, income tax
Hi johruf,
It is all 3 of that section.
Thank you. -
RE: Hong Kong resident with UK property income
Hi lamtinman,
Yes, you need to declare the income in the UK via a tax return as you are a non resident landlord.
If jointly owned, each party must declare their own share. as a resident of Hong Kong you are not entitled to personal allowances.
Further guidance is at:
Tax on your UK income if you live abroad
Thank you. -
RE: Is CGT required?
Hi JWL,
It is possible that a gain is due as you did not live in the house as your main residence for the whole period of ownership.
You chose to move away for work and then did not return to the property prior to selling.
The cost of the new house is irrelevant as it is the differnce in price on the property that has been sold determines whether a gain has arose or not. Please refer to guidance here:
Capital Gains Tax: what you pay it on, rates and allowances.
Thank you. -
RE: Offset a loss against GCT
Hi Patrick57G Gallagher,
Yes. the loss can be off set.
Thank you.
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RE: claim foreign tax credit relief
Hi Eduardo Suarez,
You need to tailor your tax return at section 3 to state you are claiming Foreign Tax Credit Relief on a capital gain rather than normal tax credit relief.
How do I tailor my Self Assessment tax return?
Thank you. -
RE: CGT + Computation sheets? All sent online with my SA100 tax return in one go?
Hi john,
Your online tax return has a section for capital gains (at the bottome of page 1 of 3 when tailoring your return).
You would complete this section instead of submitting a paper SA108, as this section of the online return is equivalent to a SA108.
You can add your evidence/calculations as an attachment later in the online return.
Thank you. -
Trust return - how to do so
Hi MB74 Breen,
Please refer to:
Trusts and taxes
Or contact the helpline here:
Inheritance Tax: general enquiries
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RE: Capital Gains Tax Carry Forward
Hi JimmyD83,
The loss from 22/23 can be carried forward until you need it.
The loss for 23/24 must be used against the 23/24 gain as they are both in the same tax year and in year losses are used first.
To allow the use of any losses, they must be notified to HMRC within 4 tax years of them arising.
Thank you.
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RE: Withdrawing 25% of overseas pension fund
Hi judy7777 R,
The 25% refers to the whole pension pot so when you withdraw part of it, only 25% of that withdrawal is tax free. the rest is taxable.
Thank you.
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RE: Tax on German pension
Hi
Article 17 of the UK / Germany tax treaty covers state pensions:
Germany: tax treaties
When the UK/German tax convention was amended in 2010 it gave the German tax authorities the right to tax social security, what is in effect state pensions in Germany.
As a result the German tax authorities are exercising their right to recover tax that was not previously paid by UK resident individuals on their German state pensions.
The pension should not be declared in a Self Assessment tax return, as it is not taxable in the UK.
You should amend any tax returns 22/23 and 23/24 that include the Germans pension and submit an overpayment relief claim for 20/21 and 21/22 tax years.
For the 2 earlier years 19/20 and 20/21, you will need to make a claim under the MAP procedures as described in article 26 of the treaty.
Thank you.