HMRC Admin 25 Response

Hi R Ellis,
You need to take the purchase price for the date your husband actually bought them.
Any gain would then be on the difference in price that that they are now being sold for.
You would be looking at the number of shares you are selling to ascertain the gain.
Thank you. 

Hi DLHK2UK,
There is no capital gain on the transfer of the capital.
For the interest earned, this depends on the name on the account.
If in your wife's name only then she is liable for the interest earned.
If the account is in joint names then you both need to declare 50/50.
Thank you. 

Hi ec5784,
The adjusted cost basis may be where the cost on a S104 holding comes into effect but as already stated, we cannot comment on the layout of trading platforms and you need to work out any gain/loss to match HMRC systems.
Please refer to the link previously given.
Thank you. 
 

Hi Ka Tang Elson,
You would need to look at the guidance on statutory residence and take the statutory residence tests, to determine whether you are resident for tax purposes in the UK for the whole tax year 2022 to 2023 or whther you are not tax resident for the whole tax year.
You would then need to consider split year treatment and whether it applies or not.
There are a total of 3 outcomes.
1 - Tax resident for the whole tax year and split year treatment applies (a tax return is required to claim split year treatment
2 - Tax resident for the whole tax year and split year treatment does not apply (a tax return is required to declare world wide income
3 - Not tax resident for the whole tax year (a tax return is required if certain Self Assessment criteria is met:
Check if you need to send a Self Assessment tax return
Thank you. 

Hi Janni,
It is difficult to say.
For an answer to a more detailed answer to a question of this nature, you would need to contact our Self Assesment helpline on 0300 200 3310, contact our webchat facility here:
Self Assessment: general enquiries
Or seek professional advice.
Thank you. 

Hi Andrew Gardner
HS227 losses are significantly different to Negligible Value Claims.
Please refer to for foreign losses. 
RDRM32060 - Remittance Basis: Accessing the remittance basis: Claiming the remittance basis: Claiming the remittance basis - foreign chargeable gains loss election
Thank you. 
 

Hi Sharon2,
They would normally issue you with a P45 if it is a one off payment.
If ongoing, it will be a P60 issued after the end of the tax year (5 April).
Thank you. 

Hi LEE PORTER,
Guidance is given on the original link posted, please scroll down to the section on how and when to claim relief.
Thank you. 

 

Hi CapitalGainTax,
No, unless the property has been your only and main residence for the whole period of ownership.
You will need to report the sale irrespective of what you do with the funds:
Please see guidance here:
 Report and pay your Capital Gains Tax
Thank you. 

Hi Julia,
You will still be classed as UK resident as the emmbassy is still classed as UK soil.
Thank you.