HMRC Admin 25 Response

Hi moutax,
As you were resident in the UK when you disposed of your property in India, any gain arising from the disposal may be taxable in the UK.
You will need to work out there is a gain.
There is a calculator here to help you do this:
Tax when you sell property
All parts of the calculation must be in pounds sterling.
You do this by converting the acquisition costs into pounds sterling using a just and reasonable exchange rate that applied at the time you acquired the property.
You also do this with the disposal value and , as well as the costs of buying, selling or improving your property from your gain.
These include: estate agents’ and solicitors’ fees and costs of improvement works, for example for an extension (normal maintenance costs, such as decorating, do not count).
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.
For your convenience, there are exchange rates at: Exchange rates from HMRC in CSV and XML format
And for older rates here:
Exchange rates.
You are free to use any of the supplied rates or one of your own choosing. 
You are entitled to claim the annual exempt allowance to set against your gain.
It does not matter whether you sell the land separtately from the property at different times.
 Both are subject to Capital Gains Tax in the tax year they are disposed of.
The tax treaty between the UK and India, allows India to charge capital gains on the disposal.
It also allows the UK to change Capital Gains Tax, but India has the first opportunity to do this.
Thank you. 

Hi moutax,
Unless there is evidence to the contrary, HMRC takes the view that performance bonuses are “for” the performance period.
This may be a calendar year or the company accounting period.
As this bonus falls in the period that you were not resident in the UK, it is not taxable in the UK and does not need to be declared.
Thank you. 

 

Hi ShaunLyla1,
If the property is in your wifes name only and there has been no official claim for an alternative split of beneficial ownership.
Your wife is fully liable on any gain made.
The kitchen and bathroom can be claimed as capital expenditure but the radiator is not allowable.
Thank you. 

 

Hi Sanjog Karki,
No, as this will show that it is not income for just 1 week.
Thank you. 

Hi tobassist,
You will need to contact us direct for this to be confirmed as Student Loan Company will need to access your record.
Pease contact HMRC here telephon and ask for the Student Loan team.
Income Tax: general enquiries
Thank you. 
 

Hi gerhardp,
The 60 day deadline is for UK property only and applies whether you live in the UK or not.
Foreign property is still within the tax return due dates.
Guidance here:
Report and pay your Capital Gains Tax
Thank you. 

 

Hi igys,
You are claiming relief for the swiss tax paid.
Guidance on how to work it out is here:
Relief for foreign tax paid (Self Assessment helpsheet HS263)
Thank you. 

Hi Yacine Ouahioune,
Please refer to:
Tax on foreign income
Thank you. 

Hi Carey Wong,
No, as it is a foreign inheritance and not liable to tax.
Thank you. 

Hi Fraser Scott,
We cannot reply to specific details on this forum.
You will therefore need to contact HMRC direct by contacting the helpline:
Self Assessment: general enquiries
Thank you.