HMRC Admin 25 Response

Hi WH,
Yes, you can allocate the costs as expenditure and deduct from CGT when reporting to HMRC.
Thank you. 

Hi Andy,
Yes, you are correcy about declaring the interest.
Thank you. 

Hi Peter,
You use 50% of the value in 2007 and again in 2008 upon your wife's passing.
Thank you. 

Hi James
Please refer to guidance at:
BIM37900 - Wholly and exclusively: expenditure having an intrinsic duality of purpose: contents
Thank you.

Hi pijin,
The representative would need to confirm if any of the job titles are appliable to them.
If not then you cannot claim it.
Thank you.


 

Hi Gary,
Sorry,i t is not possible to check individual tax records through this forum.
If you have a question which relates to your personal tax situation or tax code please contact our helpline. 
Capital Gains Tax
Thank you. 

Hi, Hoi,
As it is in excess of £10,000, yes
Thank you. 
 

Hi johruf,
It is all 3 of that section.
Thank you. 

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. 

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.