HMRC Admin 25 Response

Hi Jonathan Matthews,
The price of the property will be split into two.
Your 50% at the time of acquiring the property in 2011 and 50% of the market value at the time you acquired the other 50% in 2016.
When added together you will obtain the acquisition cost.
As the property was your main residence, you can claim private residence relief and this may cover all or most of any gain arising from its disposal. Please have a look at the guidance here:
Tax when you sell your home
There is a calculator to help you work out your gain here:
Capital Gains Tax.
If tax is payable, you have 60 days from the completion date to report and pay the capital gains tax, to avoid penalties and interest charges.
You can create a capital gains account and report and pay the capital gain online at above link.
Thank you. 

Hi JPCoetzee,
Pleae contact our online services helpdesk here if you continue to experience difficulties.
Technical support with HMRC online services
Thank you. 
 

Hi anico,
Generally,  you are correct.
As there is no set list of revenue and capital expenses, you will need to read the guidance and make an informed decision, as it is largely a question of fact and degree in each case, whether expenditure on a property leads to an improvement.
Please have a look at the guidance here:
Work out your rental income when you let property
PIM2030 - Deductions: repairs: is it capital?
Thank you. 

Hi BHolmes holmes,
Your Personal Allowances are given automatically in the calculation if you are UK tax resident and domicile.
Please review the full calculation at the end of the return to confirm.
Thank you. 

Hi David Allton,
You only need to show details of any new sources after you have submitted the first DTA exemption claim.
 It will be noted on your record already from the original claim as to what has been exempted.
Thank you. 

Hi Nick.dixon,
Rental losses cannot be offset in any year against any potential capital gain.
As the letting has ceased, the losses will then be lost.
Thank you. 

Hi lilly90,
If you have foreign income, other then dividends, you still need to complete a tax return to show this irrespective of the amount received.
Tax on foreign income
Thank you. 

Hi Melo1,
Sending a copy of the letter is sufficient.
HMRC will translate it.
It would be beneficial to include your NINO or UTR number in a letter that explains why you are sending the Portuguese letter.
A certificate of residence issued by the UK can be for a specific period in the past and must be in relation to a foreign income of some type, such as employment, self employment, pensions and so on.
Your letter will be reviewed by a specialist team that deal with Portuguese tax authorities on matters of this this and other natures.
We cannot advise how long this may take.
Thank you. 
 

Hi JoeN2024,
Under the terms of the double taxation treaty with Hong Kong, income eerned for work carried out on Hong Kong soil is only taxable there and should not be declared in the UK.
Thank you. 

 

Hi joebone87,
Business Income Manul 37635 would suggest that the first and last journey is to and from a place of work and would not qualify for business travel. BIM37635 - Wholly and exclusively: duality of, or non-trade, purpose: travel costs: home to work: predictability of places of work
Thank you.