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  • RE: Employed and Self-employed for Self-Assessment Register

    After checking with the online adviser, they answered that our situation are not required to register Self-Assessment (because I am working in PAYE job and my wife's income is less than GBP1000) so that we only have to report investment income via webchat / phone. In this situation, do we need to apply Split year treatment as there are some income before arrival in UK? Thanks a lot
  • RE: Employed and Self-employed for Self-Assessment Register

    Thank you very much for quick reply. For my wife, may I know setting up business tax account and sole trader are the same or they are different things that I have to apply seperate? Should my wife also apply personal tax account? or they will be all together? Thanks a lot
  • Employed and Self-employed for Self-Assessment Register

    Husband (Me) May 2021 - end of Hong Kong’s Job Jul 2021 - arrived UK Sep 2021 to Apr 2022 - UK’s Job In the period between Apr 2021 to Apr 2022, some income come from Bank Interests and Investment Earnings. (Total amount less than £1000) Do I need to register Self Assessment? If so, which one should I apply? Wife May 2021 - end of Hong Kong’s Job Jul 2021 - arrived UK Dec 2021 - start operating Youtube Channel but the first payment of income is transferred in May 2022 (no income earned from the Channel between Apr 2021 to Apr 2022) Mar 2022 - Sold the property in Hong Kong but your colleague has replied: You are due the full period of private residence relief so there will be no gain to report to the UK. In the period between Apr 2021 to Apr 2022, some income come from Bank Interests and Investment Earnings. (Total amount less than £1000) Does wife need to register Self Assessment? If so, which one should she apply? - she want to prove the status of self-employed, is it possible? Does my wife need to pay National Insurance and how to register? Thank you so much and look forward to hearing from you soon.
  • Stamp Duty for buying a property in UK

    My Case is: My wife owned a property in Hong Kong but sold. We are planning to buy a property in UK and this will be our first property in UK. (Sole owner will be considered) Q1) Is my wife a first time buyer? Q2) Am I a first time buyer? Q3) If so, can we apply "Help to buy" scheme? Q4) How much stamp duty tax should we pay for buying a property in our situation? Thank you very much :) Kind regards, Smilybar
  • RE: Capital Gain Tax on overseas property and Private Residence Relief

    Hiya, Thank you for your quick reply. :) May I confirm that it is not necessary to inform UK GOV about the matter of selling property matter as well? So nothing I have to do? Cheers, SmilyBar
  • Capital Gain Tax on overseas property and Private Residence Relief

    Hiya, My case is: 1. My husband and me moved to the UK from Hong Kong on 1 July 2021 via BN(O) visa and rented a flat here for 1 year since August 2021 (we were living in AirBnB before). 2. I owned the property in Hong Kong since March 2019 and started to move in in May 2019 after improvement work. I kept living in this property until the end of June in 2021 and I went to the UK. Finally, I sold it in March 2022 (the date of exchange of contract) and the final completion (key handover) was on May 2022. (I was the sole owner in Hong Kong) 3. However, I have gone back Hong Kong in May 2022 and the property became my main residence property again before the completion date. (my husband cannot go back Hong Kong due to his career in UK and I also tried to go back Hong Kong earlier before but not successful due to COVID-19 restriction and the flight ban) According to the “Period of absence “ in Self Assessment helpsheet HS283, one of the qualifying periods of absence is “a. absences, for whatever reason, totalling not more than 3 years in all”. In this respect, may I know if I am eligible in full period of the private residence relief for selling my overseas property? My further questions are: Q1) Do I still need to report to HMRC now if I am eligible for full period of the private residence relief? Q2) Do I just need to report how much Capital Gain Tax in my self-assessment in the tax year 2022/2023 if I am not eligible for full period of the private residence relief? Q3) If I am not eligible for full period of the private residence relief, what should I do? How much am I eligible? Q4) For the improvement work, I paid by cash in some cases and some of receipts are lost due to moving home, what supporting documents are required to prove the cost of the work? Thank you very much :) Kind regards,