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Hi, I will use remittance basis. All of my overseas income will NOT be remitted to the UK. In the UK, I only have bank interest income of around £8,000. I don't have any other form of income. As I am using remittance basis, I understand that I do have any personal allowance. I want to confirm whether I am still having the Starting rate for savings (£5,000) and any personal saving allowance (£1000/ £500/ £0)? Or I also lose the personal saving allowance? My own estimation of the tax payable for the interest income is: (£8,000 - £5,000) x 20% = £600 Is that correct? Many thanks!

Thank you very much for your informative response. To ensure my understanding is accurate, I'd like to clarify a few points. In my situation, where I've conducted 20 trading transactions involving stocks, should the values in box 24 and box 25 reflect the total disposal proceeds and allowable costs of all these 20 transactions, encompassing both profitable and loss-making ones? Consequently, is it correct to deduce that box 26 might not necessarily equate to the difference between box 24 and box 25? Should box 26 exclusively encompass the gains resulting from profitable transactions, rather than all transactions? Furthermore, in my husband's scenario, is it possible for him to declare the loss of £300 to be carried forward? In this case, would it be accurate for him to indicate £0 in box 27 and £300 in box 47? Many thanks!!

Hi, This is the first year for me and my husband to do the self assessment. We have no UK income, and we have capital gains/(loss) from trading of US stocks. I would like to confirm whether my understanding on the losses to be carried forward is correct: My situation: Capital gain £3,000; capital loss £18,000; net loss £15,000. The capital gain is within the AEA. I can declare my gross loss £18,000 (rather than the net loss) to be carried forward. And I can fill in the SA 108 as follow: Box 27 (Losses in the year): 0 Box 47 (Losses available to be carried forward): £18,000 My husband's situation: Capital gain £2,000; capital loss £300; net gain £1,700. The capital gain is within the AEA. He can declare the gross loss £300 to be carried forward. And he can fill in the SA 108 as follow: Box 27 (Losses in the year): 0 Box 47 (Losses available to be carried forward): £300 Thanks a lot for confirming my understanding. Many thanks for your help! !

Hi, This is the first year that I file my self assessment tax return. I will file online through the HMRC system. I need to fill in the SA 108 Capital Gains Tax summary because I have conducted multiple stocks transactions during the year. I have a detailed computation of these transactions. I want to ask whether I can attach a file (e.g. a PDF) as information to be submitted in box 54 ("Any other information")? Many thanks!

Thanks for your reply. I am quite surprised the rate quoted by Bank of England cannot be used, instead, the daily rate quoted by the national newspapers can be used. May I clarify which national newspapers to which I can refer. For example, can I refer to the closing rate quoted by investing.com, which is a well-known financial website. Many thanks again!

Hi, I am a director of a private limited company. During 2022-2023, I did not receive any income as the director. The note to Employment specifies that this page should be filled if I "received income as a company director". So, I want to ask if I am NOT required to fill in the Employment page on the grounds that I actually did not receive any director income. Many thanks!

Hi, I have a question regarding the use of exchange rate to calculate the capital gain tax and income tax relating to foreign dividend. I know it's free to choose the monthly rates, yearly average and spot rates quoted in HMRC website. I would like to know whether I can also use the daily spot rate quoted by Bank of England? For example: (1) I bought and sold shares of a US stock in both September 2022. Can I choose the daily spot rate by Bank of England for acquisition and the September 2022 monthly rate by HMRC for disposal? (2) Can I choose the October 2022 monthly rate for a foreign dividend received on 1st Oct 2022, while choosing the daily spot rate by Bank of England for another foreign dividend received on 20th Oct 2022. Many thanks!

Thank you for your reply. I want to confirm if my understanding is correct. 1. I don't need to fill in SA108 for the purpose of claiming foreign capital loss, right? 2. I need to fill in the net-off amount of capital gain & loss in box 35 of SA109 as the nominated gain, and provide the detailed information in box 40, right? 3. Filling SA109 already serves the purpose of your suggestion "You can send in details of the loss in a letter. HMRC must be notified within 4 years of the tax year of the loss arising.", right? And I don't need to write a separate letter, right? Appreciate your reply!

Thanks for the clarification for the monthly rate! You said I can choose the appropriate spot rate. In this case, the purchase and disposal were both conducted in November 2022, am I free to use the spot rate: 1. on 31 Mar 2023 or 31 Dec 2022? (because these are rates for tax year 2022/2023 in which my transactions fall) or 2. on 31 Mar 2022 or 31 Dec 2021? (because these are rates exist when my transactions were conducted). Many thanks!

Hi, I want to ask a follow up question. In my case, I am UK resident, non-domicile, and will apply remittance basis for 2022/23. 2022/23 is the first year that I am a UK resident. I have no UK income or gain, and I only have foreign capital gain, foreign dividend and interests. I have made some capital loss. I will not remit any foreign income or gain to the UK. In this situation, how can I elect foreign capital loss claim, for the purpose of carrying the capital loss to future tax years? Do I need to fill in SA108? If not, how can I elect the claim? Many thanks!!