Beverly Ng

I was very confused and unsure, and I would be very grateful if you can advise is below calculation correct or not, thanks! My property bought in September 2009 at GBP300000. Sold in April 2023 at GBP600000. Sold and bought price difference = GBP300000 This was my main property from July/2010 to Dec/2021, number of months living in this property + 9 months ownership = 147 + 9 = 156, total number of months owning the property = 163, so the private resident relief = 156/163 = 95.71% My husband and I were joint owners, we had 50% ownership individually. Capital gain for each of us (after deducting private resident relief) = 300000/2 x (100-95.71)% = GBP6435/person Taxable capital gain for each of us (after deducting the capital gain allowance GBP6000 in 2023/24) = 6435 - 6000 = GBP435/person Is the above calculation correct please? Thank you!

If my property: Bought in September/2009 at GBP300000 Sold in April/2023 at GBP600000 Sold and bought price difference = GBP300000 This is my main property from July/2010 to Dec/2021, number of months living in this property + 9 months ownership = 147 + 9 = 156, total number of months owning the property = 163, so the private resident relief = 156/163 = 95.71% My husband and I were joint owners, we had 50% ownership individually. Capital gain for my husband and I individually (after deducting private resident relief) = 300000/2 x (100-95.71)% = GBP6435 Taxable capital gain for my husband and I individually (after deducting the capital gain allowance GBP6000 in 2023/24) = 6435 - 6000 = GBP435 Is the above calcuation correct? Thank you!

I had registered self assessment online on 29 / Oct /2023, I checked with the "Check when you can expect a reply from HMRC" which said that I should have received a reply (UTR) on 19 Nov 2023, but I didn't receive. So there is something wrong with my self assessment registration? How can I do the tax return without the UTR? Then I try to ask HMRC online, the chatting bot did not give me help, just saying "Our advisers are not available to discuss your query because this is outside of their working hours". I am so afraid that I will miss the 31 Jan 2024 deadline to report my tax return, I don't want to be charged with offence. Please note that I have hearing loss, I can only chat online, I cannot contact them by phone. Could you give me some direct help? e.g. a direct email to an advisor. PLEASE!!!! I AM DESPARATE!!!!

Hi, I know that I need to do online self assessment tax return by January next year. But I am very new in the UK, I have never done self assessment before; I thought I could do it in my HMRC/Government gateway account, but I browsed the the gateway website the whole afternoon, I didn't find anywhere in the website I could do the self assessment. I didn't even know I need to register for self assessment until I saw the website below: https://www.gov.uk/register-for-self-assessment - which mentioned "You must register for Self Assessment by 5 October if you need to complete a Self Assessment tax return and have not sent one before. You could be fined if you do not. If you’ve registered and you’re waiting for a Unique Taxpayer Reference (UTR), you can check when you can expect a reply from HMRC....." Now I am so frustrated, how can I register for self assessment? And how to do the online self assessment tax return? The HMRC website doesn't give me clear instructions, I can do nothing except to ask your help, please advise!

Regarding MHRC Admin20 mentioned above "Private residence relief is calculated as the number of months the property was your main residence, plus an extra 9 months over the number of months you owned the property. (147+9)/163 times the gain. " Thanks for confiming this. However, I am very confusing which form (SA106? SA108?) and where in the form can I claim this private residence reielf? Should I include computation of the private residence relief with the form? Thanks!

Thank you again! Then I have another question. Actually I have bank interest over GBP1000 in the last tax year, some of the interest cames from overseas bank. Do I also need to fill in the SA106 (foreign)? And as interest is not capital gain, SA108 is thus not needed, right?

Thank you very much for your reply. Can I just fill in the SA100? Not SA106 (foreign) and SA108 (capital gains)?

Hi, My overseas property (in Asia) sold in Apr 2023, I have the following questions: 1) I bought property in 2009, when I calculated the capital gain, I first need to converted the currency to GBP, right? I search online HMRC exchange rates page which however does not have 2009 currency exchange rate. Could you please advise this information? 2) My understanding, as the property I sold is not a UK property, and the contract exchange (completion date) took place on 28 Apr 2023, so I can leave this capital gain tax in 2023-2024 self assessment tax return, is it correct? 3) My husband and I owned this property for a period of 163 months, it was our main/only home and we had lived in it until 16 months before we sold this property, taking the 9 months relief into account, my private residence relief is (163-(16-9))/163=about 95.7%, is it correct? Thank you very much!