HMRC Admin 8 Response
Joined: 11/22/2019
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Re:Stock & Shares ISA: I opened 2nd Stock & Shares ISA in Tax year 2023/2024
Hi,
If any funds were paid into the 2nd ISA they will not qualify for the ISA exemption for any interest paid. HMRC will contact you in due course to advise of the action required.
Thank you. -
Re:Cash gift from India to UK
Hi,
Cash gifts are not subject to tax, only the interest they generate.
Thank you. -
Re: Interest from fixed rate savings bonds - income of deceased account holder or estate income?
Hi,
Any interest arising after the date the deceased passed away, is income of the estate.
Thank you. -
Re:Crypto tax
Hi,
Yes. Capital gains tax is calculated using the 'arising' basis. In this case it would be the tax year in which the disposal arises.
Thank you. -
Re:Chargeable event gain insurance surrender value
Hi,
There is nothing to report, where a loss is incurred on the insurance policy.
Thank you. -
Re:How to tax on my interest, 40% or 20%
Hi,
That is correct.
Thank you. -
Re:CGT “losses available to be carried forward”
Hi,
As you have already reported the losses these will be on record so you dont need to complete the CGT page each year if only to declare previous details.
Thank you. -
Re:Money Transfer Tax Implications - UK non-resident
Hi,
HMRC cannot comment on future events as legislation may change.
Thank you. -
Re:Spring budget 2024 on remittance applied during tax year 2021-22
Hi,
The new rules only apply from 6/4/25 and you will therefore still be under the current rules so no refund is due.
Thank you. -
Re:Claiming private pension contribution for Higher Tax for past 4 tax years
Hi,
You cannot claim for the previous years on the latest return and will need to write in for this separately. you will need to confirm the amount for each year and if over £10,000 you will need to supply evidence of the payment.
This should be sent to:
HMRC PAYE & Self Assessment BX9 1AS.
Thank you.