HMRC Admin 25 Response

Hi M Ali,
There is no preset method of obtaining the market value.
You are able to use the services of a qualified surveyor or estate agent for example.
You could also use values of similar properties for sale in the area at the time of acquisition or disposal.
HMRC does offer a free valuation service (CG34) to help you complete your Self Assessment tax return.
You can ask us to check valuations after you’ve made the disposal.
Post-transaction valuation checks for capital gains).
Thank you. 

 

Hi JohnTom,
We cannot provide an answer to your question, as we cannot give you financial advice.
You will need to seek professional advice on this matter.
Thank you. 

Hi CapitalGainTax,
Losses can be carried forward and used against profits in a future tax year.
For more information on a question of this nature, you would need to contact our Self Assesment helpline on 0300 200 3310 or contact our webchat facility at:
Self Assessment: general enquiries
Thank you. 

Hi hip007,
HMRC does not use email for personal tax correspondence, as the medium is considered insecure.
For that reason, our correspondence is always by post.
Thank you. 

Hi TR,
Pre trading expenses are claimed in the year that trading commences.
Please have a look at:
BIM46351 - Specific deductions: pre-trading expenditure: scope).
For capital allowances, there are special provisions to treat pre-trading capital expenditure as incurred on the date trading starts.
Please have a look at:
CA23020 - Plant and Machinery Allowances (PMA): qualifying expenditure: expenditure incurred before qualifying activity begins).
Thank you. 

 

Hi Jim Fish,
With the account being in your name, you are the beneficiary of any capital gains tax on the disposal of assets within that account.
There is no Capital Gains Tax on the transfer of assets between spouses and civil partners, so you could transfer the asset to your wife prior to the disposal.
How you go about doing that is not something we can help with.
You could check withe the account provider.
Thank you. 

Hi HUMBUG,
For details on the starting rate and personal savings allowance:
Tax on savings interest
Thank you. 
 

Hi reuters1953,
As the tax return cannot be submitted online, you will need to use a paper tax return.
Archived tax returns and supplementary pages can be found at:
Tax return for Self Assessment.
Supplementary pages can be found at:
Self Assessment tax return forms
FTCR is calculated by referring to the amount charged to UK tax on the income.
Where UK tax is more than the foreign tax, the relief can be up to 100% of the foreign tax paid.
Where UK tax is less than the overseas tax, the relief is up to the UK tax paid.
Thank you. 

 

Hi Rainbow485,
I'm sorry to hear you're experiencing these issues.
Contact our Online Helpdesk here:
Technical support with HMRC online services
And we can advise you further.
Thank you.

 

Hi tom,
The new rules do not come into effect until 6 April 2025.
The old rules will continue to apply up to then and we cannot confirm in this forum, whether you will fit the nie critieria.
Thank you.