Skip to main content

This is a new service – your feedback will help us to improve it.

  • RE: CGT on currency

    Hi. I was go through the link "Capital Gains Manual", But I still don't know which SA from I need to fill .............. Is SA108 - Capital gains summary ? "Other property, assets and gains" ? or "Listed shares and securities" ? My question is very simple , I just buy USD in HSBC(UK) currency use GBP and sold the USD back to GBP, on this trade, I earn 20K GBP profit. So which form I need to fill ? Thank you very much.
  • CGT on currency

    I arrive to UK at 10-April-2022, At 01-Aug-2022 I change my 100K GBP to USD, and I will change back to GBP at today 25-Sep-2022 And it make around 10K GBP profit, Do I need to Pay CGT ? If yes, which of the following SA form I need to fill this 10K GBP profit ? SA100 - (Saving income, pensions & tax reliefs) SA103S - Self-Employment (Short) SA106 - Foreign SA108 - Capital gains summary Thank you very much.
  • Question on SA108 (Capital Gains Summary, Listed shares and securities)

    I have a question on SA108 (Capital Gains Summary, Listed shares and securities) Example : I buy a listed shares e.g: Tesla (TSLA) I purchase the 1200 share at 2021-05-14, and the price is $140 And sold out all the 1200 share at 2022-01-16, and the price is $1000 And the broker service charge is $200 So, the gains is = (1200 x $1000) - (1200 x $140) - $200 = $1200000 - $168000 - $200 = $1032000 - $200 = $1031800 So, the following items do I put the amount is correct (SA108) ? if not , could you please tell me what amount/value should I input ? Box 23 : Number of disposals : 2 Box 24 : Disposal proceeds : 1032000 Box 25 : Allowable Costs (including purchase price) : 200 Box 26 : Gains in the year, before losses : 1031800 Box 27 : Losses in the year : 0 Thank you very much.
  • RE: I already pay the Tax through DPNI every month, do we need to submit the SA102 ?

    Thank you very much, I just very scary the HMRC will tax 2 times on me.
  • RE: About the Foreign SA106 "Foreign Tax Credit Relief" box 2 amount ?

    Thank you very much
  • About the Foreign SA106 "Foreign Tax Credit Relief" box 2 amount ?

    About the Foreign SA106 "Foreign Tax Credit Relief" box 2 amount ? I already take a look on HS263 example 2 - Foreign Income, below the URL (This is not a good example, because £600 - £300 = £300) So, I don't know which very I need to put on the box 2 at SA106, both is £300 https://www.gov.uk/government/publications/calculating-foreign-tax-credit-relief-on-income-hs263-self-assessment-helpsheet/relief-for-foreign-tax-paid-2022-hs263 I still don't know which amount I need to put on the SA106 box 2 "Foreign Tax Credit Relief" For example : I have a property rent out at Hong Kong, every month have around £600 income, and I already pay the Tax to Hong Kong Tax department around 15%, so every year I pay the tax is £600 X 15% X 12month = £1080 So, is I need to put amount £1080 on the SA106 "Foreign Tax Credit Relief" box 2 ? is that correct ?
  • I already pay the Tax through DPNI every month, do we need to submit the SA102 ?

    I already pay the Tax through DPNI PAYE every month, do we still need to submit the SA102 ? Because I also have foreign income, which is a property to rent out every month. And taxed at foreign country. If I do not submit SA102, Will the HMRC tax system will calculate incorrect tax amount . I am just scary the HMRC will tax me twice if I also submit SA102. https://www.gov.uk/government/publications/calculating-foreign-tax-credit-relief-on-income-hs263-self-assessment-helpsheet/relief-for-foreign-tax-paid-2022-hs263