HMRC Admin 10 Response

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As you have foreign income, you meet the criteria for completing a self assessment tax return, regardless of whether any tax is payable.  The tax return, allows you to declare all of your world-wide income and capital gains.  If you paid tax on the rental income in another country, then you may be able to claim up to 100% of the foreign tax paid.

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This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.  You will need to contact us direct on 0300 200 3310 for specific answers
 

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Based on the details supplied then yes the would be tax free.

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Where the disposal value is lower than the Allowable costs (including purchase price) then a loss arises.  There is no requirement to report any losses.  If you want to carry the loss forward to a future tax year or depending on the type of loss, set it against other income, you need to report the loss in writing, where you do not need to complete a tax return, or in a self assessment tax return.  in either case, you need to provide supportng evidence of the loss.  You have 4 years from the end of the tax year in question to claim for losses.

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There are generally no Income Tax implications on the giving of or receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax. Further guidance can be found here Tax on savings interest: Tax on savings interest
Tax on dividends: Tax on dividends
Inheritance Tax is only due when a person's estate is worth over £325,000 when they die, or if the person who died gave away more than £325,000 in gifts in the 7 years before they died. 
The rules on giving gifts can be found here: How Inheritance Tax works: thresholds, rules and allowances
You may also want to review the guidance at: How Inheritance Tax works: thresholds, rules and allowances
 

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Please look here How do I tailor my Self Assessment tax return?

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Please see here re your business name Choose your business name

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Please see here Deadlines

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Please check here Check if you need to send a Self Assessment tax return and if you feel you do not need to complete a return it explains how to let HMRC know.

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Please see here for details of when you need to complete a tax return Self Assessment tax returns