HMRC Admin 21 Response

Hi Carole,
Yes a tax return is required for this.
Thank you.

Hi Dizy,
You would need to contact the Australian tax authorities to see if a return is required there. As a UK resident though, you do need to include the income on your UK tax return.
Thank you.

Hi Gazelle,
It automatically defaults to the last tax year and you will therefore need to select the option for earlier years.
Thank you.

Hi b_smith33,
As the items are no longer being used solely for business, you cannot claim the full purchase costs and will need to apportion them based on business/private usage.
Thank you.

Hi b_smith33,
No. This is not what is meant by 'report any casual earnings I have made, including those involving receipts from a 'connected' party'. That is potentially casual earnings of your wife, who would report it separately. The phrase is referring to something that 'you' did that you were paid for, whether by a person known to you or not.
Thank you.

Hi Cormac,
Provided the shares were unlisted shares and securities, losses can be set against income.  A tax return will be required to claim those losses and elected to set them against income on page CG2 of SA108 or the online equivalent.  If they were listed shares and securities, then the loss can only be carried forward.  (https://assets.publishing.service.gov.uk/media/660bbb40f9ab417b75eea375/sa108_2024.pdf).
Thank you.

Hi CF W,
No. as it is in his name only it cannot be split.
Thank you.

Hi u954243,
You pay tax on the gain in the country you are resident in at the time the asset is sold -
CG25100 - Effects of residence and domicile: temporary residence.
Thank you.