HMRC Admin 25

Hi Beaker1965,
If you make a gain on their disposal, you may need to pay tax on the gains in Canada.
If you are resident in the UK, you would need to report the gain in a Self Assessment Tax return.
If Capital Gains Tax is payable in the UK on the gain and you paid Canadian tax on the gain, you can claim up to 100% of the overseas tax paid, as a Foreign Tax Credit and set it against any UK CGT arising.
Thank you. 

Hi Laava x
The arrangement is a personal choice and not for HMRC to comment on.
We are unable to comment on scenarios whether they are hypothetical or real.
You may therefore want to engage the services of a financial adviser.
Thank you. 

Hi P Du,
UK Capital Gains Tax rules allow for the transfer of assets between husband and wife and civil partners to be free of Capital Gains Tax.
You inherited your 1/3 of the property when parent 2 died.
For capital gains purposes, you would obtain the market value of the property at the time you inherited it and using the exchange rate at that time, convert the value to pounds sterling.
You can then work out 1/3, to get your inherited value.
Using the official exchange rate in use at the time of disposal, convert the disposal value and disposal costs into pounds sterling and work out 1/3, to get the disposal value and costs.
Subtract the inherited value and disposal costs from the disposal value to work out the gain.
As long as all of the figures are in pounds sterling, you can use the calculator at to work out the gain.
Tax when you sell your home
The gain should be reported in a Self Assessment Tax Return.
There are 3 official exchange rates at:
Exchange rates from HMRC in CSV and XML format 
You can choose which of them to use.
Thank you. 
 

Hi zanny71 zdanowicz,
Capital gains arising from any source other than residential property, are now reported using the online capital gains realtime service at:
Report and pay your Capital Gains Tax
For gains arising in 2022 to 2023 tax year, need to be reported online before 31 December 2023, otherwise a Self Assessment Tax Return will need to be submitted to report the gains.
Payment of the tax would be due by 31 January 2024, whichever reporting method is used.
The lower rate of Capital Gains Tax for non residential property gains is 10% and the higher rate of captital gains tax is 20%.
 For residential property, the rates are 18% and 28%.
Thank you. 

Hi JPC,
It needs to be determined whether access to these publications (both physical and virtual) is required for work purposes.
If the access is for work purposes, then it would not be considered a reportable benefit in kind subject to tax and NIC.
If the access is not required for work purposes, and therefore provided only for private personal use, then this would be considered a benefit in kind.  
The charge to tax would be based on the cost to the employer to provide the access, divided by the number of people who are given access, irrespective of whether all make use of the access.
As the employer has entered into the contract with the provider of the access, this benefit would be subject to Class 1A NIC payable only by the employer.
Thank you. 

Hi plam1405 Lamont,
No, you just need to ensure the correct process is followed in the payroll software to ensure the records are not duplicated.
Thank you. 
 

Hi Sam Wild,
These forms P11D and P11D(b) need to be done together.
S if your payroll agent completed the P11Ds will have to do the P11D b).
These can no longer be done on paper.
Thank you, 
 

Hi George Ellis,
Thank you for your question.
You need to contact the Land Registry direct to check what their requirements are in these circumstances you can call them on 0300 006 0411.
As regards the Income Tax implications you need to complete Form 17 to make the declaration that you want to have the income taxed in that split and accompany this with a copy of the Deed of Trust as evidence that the property is now owned in those shares.
Form 17 can be found on our website here: 
Declare beneficial interests in joint property and income
Thank you. 

Hi 63thecircle,
Thank you for your question.
I would advise you that you will need to contact the HMRC Non Resident Landlord Team for further guidance.
Their contact details can be found here:
Non-UK resident landlords
Thank you. 
 

Hi Angela Barnes,
For further guidance please refer to:
CG64555 - Private residence relief: two or more residences: job-related accommodation
As certain conditions must also be met for this to be allowed as private residence relief.
Thank you.