HMRC Admin 25 Response

Hi L Shaffer,
If you were tax resident in the UK at the time you disposed of your US property, you will need to declare the gain in a self assessment tax return and claim a foreign tax credit for up to 100% of the US tax paid.
All parts of your UK capital gains calculation must be in pounds sterling, using a just and reasonable exchange rate in use at the time of acquisition and disposal.
Private Residience Relief, can be claimed for the period that the property was your main residence and can be set against the capital gain.
Have a look here:
HS283 Private Residence Relief (2023).
There is also a calculator  here:
Tax when you sell property
Which you can use to help work out the taxable gain.
Thank you. 

 

Hi HMRC1234,
The lower figure is used where the deeming rules are applied, eg. 46 when there are 3 ties in table A and none of the automatice overseas tests are met.
Have a look here:
https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm11720
RDRM11720 - Residence: The SRT: Days spent in the UK: The deeming rule.
Thank you. 

 

Hi samuelkfp2000,
Yes, hough it may be useful to breakdown your expenditure should we need to review it and show it in the appropriate boxes.
Thank you. 

 

Hi Hui Tang,
You are best advised to ring the NRL Helpline direct on 03000 516644 for the likely timescale. 
Thank you. 

 

Hi MrOttaviano,
We would recommend that you visit .Gov.uk website to see if you meet the criteria to make a Form 17 election.
Declare beneficial interests in joint property and income
This begins with all parties concerned having joint ownership please note.
The unequal share of income arising from the property depends on this.
In regard to the LBBTT and ADS, there is Capital GainsTax guidance is available on the Gov.UK website. 
Guidance here:
Capital Gains Tax
 

Hi Su Chat,
You would only claim the expenses relating to your share of the property.
Thank you. 

Hi singhbusiness123 pariwar,
The rental income will be required to be declared on the Foreign income pages of your tax return, SA016.
There are guidance notes to help you complete the SA106, which are available here:
https://www.gov.uk/self-assessment-tax-return-forms.
Normally, the country in which the rental property is situated will also charge tax on the letting profits.
This means that a UK resident landlord will pay tax on the same profits both here and abroad.
However, the double charge is relieved by deducting the overseas tax paid on the property income from the UK tax paid on the same income.
This is done under the Double Taxation Treaty with the overseas country.
Further information is available here:
PIM4702 - Rent from property outside the UK: Income Tax (IT)
For information regarding general rules on allowable expenses please refer to:
PIM2005 - Deductions: general rules: overview
Thank you. 

Hi Egg,
As this is specific to the country the properties are held, for declaring in the UK return, on the foreign page, your expenses are lumped together so it would just be included with your other expenses.
Thank you.

[Post Amended - HMRC Admin] 

Hi Michelle24 Brooking,
As actual expenses should have been used at all times then the previous years would need revisited:
BIM75005 - Simplified expenses: expenditure on motor vehicles.
Thank you. 

Hi Tom Richards,
It would need to be a UK one.
Thank you.