HMRC Admin 25 Response

Hi Filbert79,
Capital Gains Tax comes down to beneficial ownership.
If the three of you were beneficial owners.
Then you are correct that one third of the Capital Gain should be declared by each of you.
Please see Tax when you sell property:
Tax when you sell property
Thank you. 

Hi Chris Mason,
A gain only arises when you dispose of an asset.
If your ex-partner was to transfer their share of the property to you then they will require to check if they have any gain to declare.
If they have lived in the property for the full time they have owned it and It is their only home then any gain would be covered by private residence relief.
If you sell the property in future and you have continued to live in the property as your only home for the full period of ownership, then your gain will also be covered by private residence relief.
Private Residence Relief (Self Assessment helpsheet HS283)
Thank you. 
 

Hi Zoey Chen,
You will need to contact the Online Services Helpdesk for help regarding this:
Technical support with HMRC online services
Thank you. 

Hi Trosten.Gudil,
Based on your information you appear to be UK citizen so yes you can transfer the capital to a UK bank and it is then only any interest or dividends that this then generates that will be taxable.
The remittance basis would only appy if you are resident but non domicile and this then has different rules.
Remittance basis 2023 (HS264)
Thank you.

Hi Joyce,
Please refer to:
Check if you need to send a Self Assessment tax return
Thank you. 

 

Hi Paul Ap,
Yes, the court order will be the date of transfer.
You would also need to confirm the actual date of separation as it is this date that is taken into account and not the date of decree absolute for Capital Gains Tax. purposes.
Separating spouses or civil partners be given up to three years after the year they cease to live together in which to make no gain or no loss transfers.
Thank you. 
 

Hi Jon Carter,
A resident of Austria, who has a UK generated pension (non government) is taxable on that pension and trivial commutation lump sum in Austria.
Article 17(5) defines a pension scheme for tax purposed and this is applied to the whole of article 17.
Thank you. 


 

Hi Ken Ronoh,
ESOP are taxed as income when they are exercised, they are treated as a perquisite or benefit someone enjoys on account of their job or position and are taxable as income.
If the individual is not resident in the UK, then they will not be taxed in the UK.
If the shares are sold in the market, they will be treated as a capital gain.
Whether that capital gain is taxable in the UK, would depend on the double taxation agreement between the UK and the country in question.
Thank you. 

Hi Eunice Tang,
Based on the limited information given in the original question you have referred to it as share option that has been sold and therefore falls under Capital Gains Tax. as the amount is within the annual exempt allowance, no tax would be due.
Thank you. 
 

H iJulie Kemp, 
If Brooksdale are having issues with the cheque they would need to contact us by telephone or in writing.
Income Tax: general enquiries
Thank you.