Ruth

Hi, I am filling my self assessment and in the section of capital gains, based on my calculation, I do not have more than 6K in CG nor losses. I then get this message "Not required to complete capital gains section." Does that mean that I should *not* present any attachment of proof that I had less than 6K CG? Thanks in advance Ruth

Hi thanks but your answer is not of much help here. I have gone through the guidance before but I can not find anywhere precise information on what to understand as "allowable costs" and whether I can include costs of commission charged by WISE when transferring money from etrade to an UK account. I would appreciate if you could help me find precise information on this. Thanks

Hi, I have exercised stock options (same day) and sold shares in the year 2023-2024. My company takes care of the tax implications (in my payslip) for the shares vested and the options exercised in the same day. I sell shares and exercice options in etrade, a trading platform from the US, and wire the money to my WISE account and then to my UK bank account. This leaves me with the responsibility of calculating CTG only on the "shared sold". These are my questions: 1. Can I deduct the cost WISE charges of commission for the transfer received from etrade and sent to my bank account in GBP? The cost is a commission applied for the combination of the money received for the options and shares. 2. If the commission can be deducted as cost, where should I add this cost in my self assessment? Is this 'allowable costs (including purchase price)'.? Does that still exists in the self assessment? 3. Based on my calculation, the CGT is under £6K, do I need to report the gains even if they did not pass the 6K? How about the options (which in this case will be 0 since it is same day sale and my company immediately takes care of the taxes implied). Thanks in advance

Thanks for the answer. I guess what I would really like to do is to pay through my self assessment which I plan to do before December 2024 what I own. I would prefer no change in the tax code, just do a direct debit to HMRC with whatever I own. The benefit I got is £20,619 and my total income has been 90,560.01 (P60). Tax code was 1257L. Based on the records I have paid 23,652.00 of income tax and 4,727.43 of NI. Is it right that the BIK will be added to the total gross pay = 90,560.01 + £20,619 = 111,179.01 Based on the calculation, the income tax to pay should be £34,139.41 The difference then to pay would be £10,487.41 Is that right? Can I pay this directly in the Self Assessment?

Ok so once I declare it on my Self Assessment tax return, wouldn't I be charged for it right after? Or would it be a way to opt for paying the tax with a new code in 2024/25? If given the choice, I would rather pay right away what I own and not change my tax code. Is that possible?

In my P11D for 2023/2024 I will have a "taxable benefit" of £20,619 My employer has told me that they will advise HMRC about the P11D so that I will need to declare this in my self assessment. I am confused a bit on what is going to happen with HMRC and how will they take the tax I own from this benefit. - Will they change the Tax code in my current year 2024/2025? If so, do I need to include this benefit in my self assessment for 2023/2024? What is best to do here in order to avoid double taxation (from self assessment and from current tax code). Thanks for any help

Hi, I came to the UK for the first time (form abroad) in 2015 to work. I have been working ever since. Recently I find out that one can pay "voluntary contributions to fill gaps" for NI. However, when I enter my NI records, I find the following: You have: "8 years of full contributions 26 years to contribute before 5 April 2049 You do not have any gaps in your record. " Is there any way I can make the voluntary contributions for years preceding my arrival to the UK? Thanks