HMRC Admin 25 Response

Hi James Grayston,
Please refer to guidance at:
Expenses if you're self-employed
And:
Simplified expenses if you're self-employed
Thank you. 

Hi Sabrina,
A tax return is not required for the 2022/23 tax year as you did not have any UK income until the 2023/24 tax year.
You will not pay tax on the capital that you have transferred but you will  need to pay tax on any interest or dividends that this then generates.
Thank you. 

Hi fishfishfish,
No a return is not required.
Thank you. 

Hi Raymond WAN,
No, you dont need to report this.
Thank you. 
 

Hi kotek,
HMRC are unable to advise you of your residence as it is for you to determine based on the guidance available.
Please refer to:
RDR3 Statutory Residence Test
And use the online checker at:
Tax on foreign income
Thank you. 

Hi joyceho456,
No, the employment page is not required.
Thank you, 
 

Hi James Eddie,
1. In situations where a probate value has been returned for Inheritance Tax (IHT) purposes but has not been considered/ascertained by the Inheritance Tax office because the whole estate was below the IHT threshold, please refer to the guidance at CG16251:
CG16251 - Assets: checking valuations: value ascertained for probate                                                 
 2. For guidance on completing and submitting form CG34, please refer to the following guidance:
Post transaction valuation checks for Capital Gains (CG34)                                           
3. Yes, if one sibling obtains a probate valuation by submitting a CG34, the other siblings should use that valuation to calculate their CGT liabilities (and they don't have to submit their own CG34s)        
4. Each sibling should indeed report their CGT within 60 days, using an estimated probate value (which can later be amended as necessary when the CG34 valuation is received).      
Report and pay your Capital Gains Tax                                         
5. Please note that questions on Form CG34 make clear exactly what information is required in a range of circumstances.
Thank you.                                          

Hi luciano.ferraro,
Yes. Have a look at:
Expenses if you're self-employed
For more details, have a look at the business income manual at BIM40000 onwards:
BIM40000 - Measuring the profits (specific rules & practices) - receipts & deductions: contents
Thank you. 

Hi laurensia lay,
We are not able to verify personal details in this forum.
The Self Assessment tax return covers all of your world wide income and capital gains / losses.
If you completed a paper tax return, you can download and print off the supplementary pages at:
Self Assessment tax return forms
If you submitted your tax return online, you will need to log into your personal tax account and amend your tax return.
You will need to go the 'tailor your return' and choose the capital gains option.
 Within the capital gains option, you can declare the loss and elect to carry it forward.
 You can only claim losses within 4 tax years of the tax year the loss arises.
Thank you. 

Hi siusiuhak,
Article 14(1) of the UK / Hong Kong double taxation agreement
UK/HONG KONG DOUBLE TAXATION AGREEMENT AND PROTOCOL
Advises that if you were resident in the UK, while undertaking the work for a Hong Kong employer, then it is taxable in the UK.
 Article 14(2) sets out situations where this is not the case.
Thank you.