HMRC Admin 8 Response
-
RE: Capital Gains/Losses on overseas shares and funds
Hi,
Gains and losses are reported on SA108 or the capital gains section of the online return.
You would also complete SA106 or the foreign section online, if you plan to claim a foreign tax credit relief.
Thank you. -
RE: Capital Gains Tax due on gifted house that was then gifted to spouse
Hi,
HMRC cannot comment on future events as legislation may change. however, based on current guidance it is from the date of purchase and you can then claim private residence relief for the period you lived in the property:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. -
RE: Crypto gains to pension
Hi,
CGT will still be due on any gain.
Thank you. -
RE: Salary sacrifice reportable income on self assessment - Child benefit tax charge
Hi,
Income tax and capital gains tax are two entirely separate taxes.
The 24/25 Personal allowances (12570) is only set against income.
The 24/25 annual exempt allowance (£3000) is only set against capital gains.
Income tax liability is calculated first, to determin the rate of tax for capital gains.
Please note that the rates of tax for capital gains in 24/25 increased as from 30 October 2024.
Thank you. -
RE: Salary sacrifice reportable income on self assessment - Child benefit tax charge
Hi,
If a salary sacrifice then this should be taken into account on the P60.
If you believe the P60 is incorrect you will need to contact your employer to review.
Thank you. -
RE: 'Other income' when calculating starting rate for savings
Hi,
No, dividend income would not be included.
Thank you. -
RE: Tax on interest after a person has died
Hi,
For assistance on R185 please contact the Trust Helpline 0300 123 1072 9.00am to 5.00pm Monday to Friday.
Thank you. -
RE: PRR and 9 month rule query
-
RE: Self assessment for year 2021/22
Hi,
Yes that is correct if you meet the criteria for Self Assessment.
Thank you. -
RE: Self Assessment for a minor
Hi,
You can check if you need to advise HMRC of additional income at:
How did you receive your additional income?
Thank you