HMRC Admin 10 Response
-
RE Capital Gains Tax on Discretionary Managed Account
Hi
You can declare it as 1 disposal but include an attachment giving the breakdown . -
re Date of disposal for foreign property
Hi
The year of disposal is the dates contracts exchanged( date missives signed). If any conditions are attached then its when all the conditions are met. any gain is based on the difference in vale from date purchased to date sold.
-
Re How to work out percentage
HI
If the flats are all the same size then you would take 1/4 as being your own.If not, then it will be based on the floor space if there has been no price allocated to each individual flat. The garden would need to have been fenced off as part of your own flat and be shown as such on the title deeds to qualify as only yours when working out any gain. -
RE CGT - able to offset the costs of decorating and carpets?
Hi
No as these are not capital costs. -
RE: Remote consultancy paid in Euros = "foreign income"
Hi
It is UK income. -
re Under the Taxable income from savings interest
Hi
No - your banks will automatically declare this interest to us, and no tax will be due on this amount as it is under your Personal Savings Allowance. -
RE: Self-employed (Stock trading at home) income tax and capital gain tax both needed to pay?
Hi
No.
You will need to amend your tax return yourself.
If you submitted your return online, you can log into your personal account and amend your tax return from there.
Alternatively, you can write to
H.M. Revenue and Customs
Self Assessment
BX9 1AS, either in the form of a letter advising which boxes to remove or by submitting an amended SA103 or SA108 or both.
I regret that we cannot amend these supplementary pages for you by telephone or webchat.
-
RE: Questions on Foreign Currency Taxation
Hi
If you have non UK bank account interest and you are not resident in the UK in a tax year you receive interest from those account, you do not declare this interest to HMRC. As a non resident, HMRC are only interested in income that arises in the UK, such as UK bank interest and UK dividends, UK property income and so on.
If you become resident in the UK, then and only then will HMRC want to know about your foreign bank accounts and any other foreign income or capital gains. -
RE: How do I report 2023/4 net share losses against CGT liability on a house sold in March 2024?
Hi
Please use the the losses box for earlier years to claim losses in 23/24. The one box does both earlier years and current year.
-
re Higher rate tax payer - pension tax relief
Hi
To claim Personal Pension relief, please write to us including evidence from your pension provider of payments made for the 20/21 tax year.
You will also need to confirm whether the amounts included are gross (before tax) or net (after tax).
Send your letter to
Pay As You Earn and Self Assessment,
HM Revenue and Customs,
BX9 1AS.