HMRC Admin 8 Response

Hi,
In that case you would not need to register as your income is not over £150K for 2023/24.
You can check the criteria at:
Check if you need to send a Self Assessment tax return
Thank you.

 

Hi,
HMRC cannot advise you on which method to use, we can only refer you to the guidance.
You may be able to claim foreign tax credit relief for the Australian tax paid on the same source.
You may want to consult a fiancial advisor for further help.
For tax guidance please refer to:
Tax when you sell property
Thank you.

Hi,
If you are required to complete a self assessment tax return, you should follow the guidance below when completing SA102 or the online equivalent.
If you’ve had to pay back money to your employer due to a contractual agreement (often known as claw back), reduce the amount of pay in box 1 by the amount paid back.  
If the result is a negative amount, enter zero in box 1. Include the negative amount, but as a positive figure, in the ‘Post-cessation trade relief and certain other losses’ box, box 6 in the ‘Other Tax Reliefs’ section on page Ai2 of the Additional information page (SA101).
Enter a note to explain why you’ve done this in box 19 ‘Any other information’ on the SA100.  
If you’ve had to pay back money to your employer due to a contractual agreement (often known as claw back), reduce the amount of pay in box 1 by the amount paid back.  
If the result is a negative amount, enter zero in box 1.  Include the negative amount, but as a positive figure, in the ‘Post-cessation trade relief and certain other losses’ box, box 6 in the ‘Other Tax Reliefs’ section on page Ai2 of the Additional information page (SA101).
Enter a note to explain why you’ve done this in box 19 ‘Any other information’ on the SA100.
If you are not required to complete a self assessment tax return, you will need to submit a claim in writing, to H.M. Revenue and Customs Pay As You Earn BX9 1AS, providing evidence of the claw back.
Thank you.

Hi,
As the account is in one name only this would be  taxable on the named person.
You can however, submit a declaration of trust to show an alternative split so that you are both beneficial owners of any income generated in the account. this cannot be applied retrospectively.
Thank you.

Hi,
It depends on your tax residence for the 23/24 tax year. If UK tax resident you are liable on your worldwide income:
RDR3 Statutory Residence Test
Thank you.

Hi,
As the property has not been your only and main residence for the whole period of onwership, it is possible that capital gains will be due.
Please refer to:
Private Residence Relief (Self Assessment helpsheet HS283 for private residence relief
Any gain needs to be reported by 31/01/25
Thank you.

Hi,
Please refer to the following guidance in respect of claiming the UK Personal allowances against your income from a UK property:
INTM334580.
The fact that that you hold a UK passport does not always mean that you will be entitled to claim the UK Personal Allowances.
As a non resident landlord you will be also be required to declare your rental income from a UK property via the self asessment system.
Thank you.

Hi,
Yes you can claim foreign tax credit relief on the Germabn tax paid in order to reduce any UK tax that is due. the relief cannot exceed the UK tax due.
Thank you.

Hi,
For an answer to a detailed question of this nature, you would need to contact our self assesment helpline on 0300 200 3310, contact our webchat facility at: Contact HMRC or seek professional advice.
Thank you.

Hi,
Shares disposed of within a stocks and shares ISA, are neither subject to capital gains or capital losses.  
This means that if there are losses in your ISA, you cannot claim a tax refund on those losses.  
You can, however, carry the losses forward and use them in a future tax year.  
Where share become negligible value, you would have to submit a claim to HMRC:
 Negligible value claims and agreements