HMRC Admin 21 Response

Hi Kenneth Beaton,
The following guidance shows when certificates are issued for qualifying buildings but usually it is a case of proving to your contractor that the conditions have been met for the relief you are wishing to claim - 17. Certificates for qualifying buildings.
Thank you.

Hi Boz Withers
As you and your siblings are benefical owners of 50% of the property, when this is sold you will still be liable to capital gains should your share exceed £6000 (for 23/24).  The additional information provided by the solicitor will not change the capital gains liability that may arise on the disposal of the property.  My colleague mentioned inheritance tax for information only.  Your mother's share of the property will count towards her estate, which may have inheritance tax implications.
Thank you.

Hi Dave P38,
Shares sold upon vesting are subject to income tax, as advised at EERSM20193 (Employment Related Securities Manual).  
If the disposal is not at the time of vesting, then the disposal may also be subject to capital gains tax.  You cannot claim the difference as a capital gain in your tax return.  legislation dictates that is is income and taxed as income.  If the income is not included in your P45, please include it on the box on the employment page for 'Tips and other payments not included on your P60'.
Thank you.

Hi Chico99,
Both criteria have to be met.  This first is do you need to submit a tax return for any other reason and the second is was the disposal value over £49200 in 22/23 (£50000 in 23/24)  If you answer yes to both questions, you need to declare the gains in the tax return, ever if you have already reported the gains using the online service.
Thank you.

Hi Chico99,
Re your question of 15/02/24:
The £50000 threshold for capital gains disposals only applies where you are required to complete a self assessment tax return for any other reason.  If you do not need to complete a tax return, then the £50000 threshold is not relevant.  Losses should still be claimed in writing.  Both criteria must be met for the disposals to be declared in a tax return.
Thank you.

Hi Antony Jenkins,
You can add your surplus pension allowance from the previous 3 tax years to the pension allowance for the year in question.  If your gross pension payment does not exceed the revised threshold, then there is nothing to declare.  Where you exceed the revised pension threshold, you will need to declare the difference in a self assessent tax return, as tax relief will not be due. You can discuss with your pensoin provider, whether your pension pot will cover the tax due.
Thank you.

Hi Matthew,
Please refer to Tax on savings interest
Thank you.

Hi pigwai chau,
HMRC cannot advise you on this as it is for you to determine your residence and complete the section. you want to look at:
Residence, remittance basis etc notes Tax year 6 April 2022 to 5 April 2023 (2022–23)
Thank you.