HMRC Admin 25 Response

Hi Deal Cai,
As he is on the title deed, he would be seen as an owner of the property and as such is now 'selling' his share so Capital Gains Tax would apply. further guidance is available here:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. 

Hi soluble,
If you do not use them then yes.
Please note though, any inyear losses need to be used first if you have any gains in the same year, even if this means you lose out on the annual exempt allowance.
Thank you. 

Hi Appae,
There may be interest and late payment penalties applied once the revised information has been supplied and your record is updated.
It will just be the additional income that you need to send in.
Thank you. 

Hi Taiman Yue,
No, a tax return is not due from the details you have provided. 
You can check here:
Check if you need to send a Self Assessment tax return
Thank you. 


 

Hi Ian Kelly,
To confirm you are correct. 
Thank you. 

Hi hermest,
Please refer to guidance here:
Set up as a sole trader
Thank you. 

Hi Wakkasali,
An individual who is resident and domiciled (or deemed domiciled) in the UK will be automatically taxed on the arising basis.
This means they will pay UK tax on their worldwide income and gains in the tax year the monies are paid.
Thank you. 

Hi cyprus777,
Please refer to CG13055 onwards and CG13060:
CG13055 - Compensation: compensation for deprivation of foreign assets: introduction
And
CG13060 - Compensation: compensation for deprivation of foreign assets: compensation received on or after 6 April 2010 (1 April 2010 for companies): TCGA92/S268B
Thank you. 

Hi Patrick Dubois,
As they are French nationals, they fall under paragraph 2 of Article 19 in that whilst they are resident in the UK they are not UK nationals and  as such the pension would be liable in France.
Thank you. 

Hi YY Wong,
US government bonds, sometimes known as T-bills or treasury bills are generally taxed as income rather than Capital Gains Tax.
The return is paid at maturity rather than regular interest payments.
In the UK, these are known as deeply discounted securities, with the discount being the difference between the price at which they were issued and the price received at maturity.
On a foreign investment the income is the difference between the purchase and redemption price after each has been converted to sterling on the day the transactions took place, so includes any foreign exchange gains.
Losses cannot be deducted. 
Please have a look here:
SAIM3010 - Deeply discounted securities: introduction
For more information