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  • RE: Transfer/gift fixed term bond to spouse in mid term

    Dear HMRC Admin 8 - I am confused, as per HMRC website https://www.gov.uk/capital-gains-tax/gifts it states 'Your spouse or civil partner may have to pay tax on any gain if they later dispose of the asset. Their gain will be calculated on the difference in value between when you first owned the asset and when they disposed of it. In that case, the term bond can be gifted to spouse and when it matures the receiving spouse should pay the tax/gain which will be calculated on the difference in value between when you first owned the asset and when they disposed of it can you provide the HMRC manual or reference to confirm that the mid term bond cannot be gifted please? thank you
  • RE: Reporting savings interest

    Hi dear - I had made a fixed deposit for 10 years in 2013 when I was not married. Got married in 2016 and my wife is now a joint holder to my savings account where interest is credited in 2023, in this case since the interested is paid in 2023 into the joint account, do I need to spilt the interest income between me and my wife? can you confirm please ?
  • RE: Income from foreign NRE account

    Dear Hmrc admin 32, Thank you and this is great, can you tell me which form or just a normal letter do I need to write to Hmrc. ? Also what details do I need to put into the letter and where do I need to post this letter to please ? Thanks again for the clarification
  • RE: Income from foreign NRE account

    Dear Hmrc admin 19 , Thank you for your reply The above link you provide the form says below - which is only to spilt income for a property. When to fill in this form You can use this form to declare a beneficial interest if you hold property jointly and: As I mentioned previously, For savings interest spilt in joint account, I was told over the phone they you just need to update your respective spilt in your respective SA and there is no need to notify HMRC. Can you confirm the same ? For savings income in joint account (not a property) Thank you
  • RE: Income from foreign NRE account

    Hi Hmrc admin 32, One clarification on above response on interest spilt of 50/50, This was for me and my wife holding a joint account and interest spilt will be 1/99 I have spoken to Hmrc personal tax team and they have mentioned that you can spilt the interest in any other spilt by submitting your respective self assessment and putting your interest allocation in your respective SA and there is not need to notify Hmrc on the spilt. Is that correct ? Thank you .
  • RE: Income from foreign NRE account

    thank you dear hmrc admin17
  • RE: Income from foreign NRE account

    Hello dear - thank you for the link I cannot find which section in my self assessment I need fill in my overseas interest earned and also which section I put the 15 percent credit relief ? Please can you share the section details on the self assessment so I can fill in there Thank you
  • RE: Income from foreign NRE account

    Hello HMRC Admin 10 - can you help me confirm: 1. which section should I use to put my NRE interested earned in my SA? 2. which section of my SA should I use to put in the 15% credit relief please? thank you