HMRC Admin 25 Response
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RE: Do I need to declare held foreign assets?
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RE: Rebasing Method
Hi Deric Ng,
If you are non resident in the UK at the time of disposal and you owned the asset before 6 April 2019, the standard approach for working out the gain is to use the market value at 5 April 2019.
Please have a look at the guidance here:
Work out your tax if you're a non-resident selling UK property or land
Thank you. -
RE: Adding business name to existing self employed account
Hi anutek34,
If you deregistered your account, you will need to reregsiter for Self Assessment.
You can provide your business name when you do this>
Check how to register for Self Assessment
Thank you. -
RE: CGT on foreign property sale within nine months of migration
Hi Andrew,
Please see the following guidance which explains that there should be no Capital Gains Tax to pay on the family home you sold in Hong Kong.
Tax when you sell your home
Tax when you sell property
The SA106 should be completed to declare your foriegn income.
Self Assessment: Foreign (SA106)
Thank you.
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RE: How long are HMTRC taking to respond at the moment?
Hi Fenlli,
We are sorry for any delay you have experienced in waiting for a reply to your query.
If you have not received a reply, please contact us by webchat or phone here:
https://www.gov.uk/government/organisations/hm-revenue-customs/contact/income-tax-enquiries-for-individuals-pensioners-and-employees
Income Tax: general enquiries.
Thank you.
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RE: Foreign currency exchange rate
Hi Maggie Wong,
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.
You are free to use any of the three rate HMRC provides, or you can use a rate obtained elsewhere, such as a newpaper or the London Stock Exchange.
Link to HMRC rates here:
Exchange rates from HMRC in CSV and XML format
Thank you.
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RE: Where to enter severance payment in self assessment form when auto populated online in P45 pay
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RE: Pension Lump Sum
Hi ssnrcs,
Yes you report it as other pension income in the Self Assessment tax return.
Thank you.
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RE: Non resident self assessment
Hi emmah,
As a non resident landlord, you need to complete form SA109.
If you are entitled to claim the allowance then either box 15 or 16 should be ticked.
Please see links to SA 109 form and notes.
Residence, remittance basis etc (Self Assessment SA109)
Thank you. -
RE: Living in South Africa as a UK tax resident, confused by SA109