HMRC Admin 25 Response

Hi brian bostock,
The guidance at CG17207 advises that following the simplification of Capital Gains Tax.
Disposals on or after 6 April 2008 do not attract indexation.
You should use the base cost in calculating Capital Gains tax.
Please see guidance here:
CG17207 - Indexation: history
Thank you. 
 

Hi DorotheeP,
As the pension contribution extends the basic rate band, this will have an effect on all your income whether it be the profit or interest.
Thank you. 


 

Hi DorotheeP,
Yes, you will report this income.
Show it as other earned income.
Thank you. 

 

Hi Leo LeLion,
Unlikely, the surrender of the life insurance policy will tax the income as notional tax that is not refundable and as you state your current income is below the personal allowances then no income tax will have been deducted for a refund to be due.
Thank you. 

 

Hi Wai Chung,
As her only and main residence, no capital gains is due.
Thank you. 

 

Hi Vans Vans,
Yes, pay from employments and foreign income is what your tax is based on.
For relief on pensions please see previous reply.
Thank you. 

 

Hi ClaireZ,
No,
The relief only applies for properties that are rented out.
You cannot claim this against your own property that you live in.
Thank you. 

 

Hi Weai chang,
Yes, the DTA would take precedence to ensure you are not paying tax in both countries.
Thank you. 

 

Hi P La,
HMRC cannot reply to specific scenarios on this forum.
You will therefore need to contact us direct on 0300 200 3300 for a definitive answer.
Thank you. 



 

Hi aswat300,
1. No
2. You would get a valuation done by an estate agent.
3. It is optional
4. There is a possibility but you would need to write in to apply for this and there is no guarantee it would be accepted.
Interest would apply if your payments for the specified dates were late.
5. You can claim for capital expenditure (new bathroom, extension) but not for flooring, carpets,decorating or general maintenance
6. Please see:
CG15250 - Expenditure: incidental costs of acquisition and disposal
Thank you.