KuenHK Lam

Good afternoon HMRC, Thank you for your reply. I have submitted the tax return with 100% complete and I am able to view SA302 full calculation online now. But, I cannot find any details about capital gain/loss that I reported in SA108 (Capital Gains Tax Summary) in this SA302 summary sheet. I provided computation sheets for reporting of small account of capital gain and asking for NVC in the tax return. In my understanding, the income tax and capital gain tax are separate to be calculated and paid. SA302 is just for income tax and payment details. How about capital gain tax? What notice/letter will I be given for paying capital gain tax if I need to? Where can I find it? For this tax year, I reported a small account of capital gain and asked for NVC (= capital loss) in the tax return. How can I know if HMRC accepts/approves my claim of NVC to be allowable capital losses which could be used later to offset the capitla gains in the future years. Regarding the above concerns, I am looking forward to receiving your expert advice. Thank you in advance.

Hi HMRC, I am using HMRC Online Service to submit Self Assessment Tax Return for 2023/2024. When I entered all relevant parts for Tax Return and checked no parts are missing out, but there still shows that the tax return is "90% complete" . May I ask if I submit the tax return, will it turn to "100% complete" and so I can print out the official online Self Assessment Tax Return for my record / reference. Or, perhaps there is something missed in my Tax Return, and I need to fill it up and make it 100% complete before submission of tax return. Please kindly advise/confirm. Also, once the Self Assessment Tax Return has been submitted to HMRC, if I have something to add/amend for the Tax Return, could I resubmit (amend) the tax return to replace the previous version of Tax Return via HMRC online service? Or, I need to write to HMRC about any change/addition required to update the already submitted Tax Return? In my knowledge, if I use a third party commercial software to submit the Tax Return, I am allowed to resubmit the updated Tax Return to supersede the previously submitted one. I am looking forward to receiving your expert advice. Thank you in advance.

Hi HMRC, Without NI number, driving license and UK passport (only having HKSAR passport), I am NOT able to apply for a Government Gateway account for submitting Self Assessment Tax Return via HMRC online service, so paper forms of SA100 and SA108 will be used and posted to HMRC. Regarding the above situation, I have the following queries to ask for: 1) What is the address for post of completed paper form of Self Assessment Tax Return? 2) Do I need to ask for SA302 Tax Calculation Sheet while submitting the paper tax return? Or, is it a normal practice that HMRC staff will automatically send me a copy of SA302 by post? 3) Regarding SA302, does this tax calculation sheet involve (mention) about capital gain tax if capital loss and NVC are reported in the SA108? 4) Who and when should I contact to check if the completed paper form of SA100 is well received by HMRC? 5) What will be the expected time for getting back SA302 by post, so that I get informed if I need to pay for income tax / capital gain tax? 6) In case, payment for tax is needed, could I give the full payment by one go? Or, I am required to split into 2 payments? Regarding the above concerns, I am looking forward to receiving your expert advice. Thank you in advance.

Hi HMRC, I sold some shares of the "same stock" from 2 different overseas joint accounts on the "same day". I would like to know if these 2 disposals came from 2 joint accounts can be grouped as one disposal to be calculated and presented in one computation working sheet. Or, I need to report them separately and provide respective computation working sheet for each? (The SA108 asks for the number of disposals made and the number of computation working sheets provided.) Similarly, I like to apply for NVC for the same "untrade status of stock shares" came from 2 joint accounts. Can I also group these 2 NVCs into one claim for calculation of capital loss? Or, I need to provide a computation working sheet for each claim? I am looking forward to receiving your expert advice. Thank you in advance.

Hi HMRC, Thank you for your reply. Based on your advice above, I have the following queries to further ask. 1) What supporting evidence of the NVC you refer to? Is it a bank statement to show these foreign shares are on "untrade status" ? 2) Do I need to provide the "Computation working sheet"? If yes, is it the one for straightforward calculations found in Page CGN 12 of "Capital Gains Tax Summary Notes" to calculate the NV amount and to claim it as captial loss? Or, should I use the example of Section 104 Holding to calculate the NV amount as these "untrade" shares (in the same class, in the same company) I bought are after 06 April 2008? For your further advice/comment, please. Secondly, I am unemployed and only have some foreign bank interests and dividends from overseas stock shares to support daily living expenditures. Am I also required to complete SA106 to declare these foreign incomes together with my tax return? I am looking forward to receiving your further advice. Thank you.

Hi HMRC, Regarding the above concerns in my complex case (involving 2 foreign joint bank accounts), I am writing to ask if any advice from HMRC will be given very soon. Thank you.

Hi HMRC, I have non-UK stock shares which are now in "untrade" status (= NO market price), which is shown in my foreign bank statement. This stock company has been withdrawn listing on the Hong Kong Stock Exchange Limited since last April. In this case, I wonder if I am eligible to apply for NVC for these worthless value of foreign shares and then claim it as a kind of capital loss to be used to offset against future capital gain. If so, I need to complete SA108 supplementary page together with my Self Assessment Tax Return for submission, am I right? If eligible to claim, am I also required to provide the calculation (computation) working sheet to show the acquisitions of these shares and the date of these shares becoming neglibile value for HMRC's consideration. I see there is a sample sheet of "Computation working sheet (for straightforward calculations)" found in Page CGN 12 of "Capital Gains Tax Summary Notes". For my case, can I copy it as the sheet format for submission together with my tax return? I am looking forward to receiving your expert advice. Thank you.

Hi HMRC, I have 2 overseas joint bank accounts - one with my wife and one with my daughter. I bought the "same" stock in these 2 joint accounts few years ago. I also made a disposal of partial shares of this stock in these 2 accounts last year. For notification of disposal of partial shares to HMRC in Capital Gains Tax Summary (SA108), I have the following queries to ask: 1) As these 2 accounts are a joint account, should my wife, my daughter and I report the share disposal in their respective self assessment tax return even it is not a disposal of whole shares? And, the number of shares and disposal proceeds should be split into half for calculation in the computation working sheet, am I right? 2) Regarding my notification of such disposals of the same stock made from 2 joint accounts, I would like to know if I am allowed to merge (sum up) the 2 disposals of the same stock from 2 joint accounts and then submit one overall computation working sheet for the disposals of the same stock made from 2 joint bank accounts, OR, I should submit a separate computation working sheet for the disposal created from each joint bank account although the same stock was sold in each account. The above queries are for notifying a capital loss to HMRC even it is from a disposal of partial shares (not a disposal of whole shares). In my tax return, I also apply for negligible value claim (NVC) for one stock in these joint accounts. For my such complex case, I would like to ask if I need to enter "MUL" (in box 25 of SA108) as the relevant code for making the above claims (i.e. Capital Loss + NVC), and also input the total number of disposals in box 23 of SA108 (i.e. by adding up the number of the negligible value of the stock in 2 joint accounts and the number of disposals of partial shares in 2 joint accounts). Sorry for the above concerns from my complex case. I am looking forward to receiving your expert advice. Thank you in advance.

Hi HMRC, Regarding the negligible value claim for stock shares, I would like to know if such claim could be reported in the SA108 supplementary page together with Self Assessment Tax Return, and secondly, if the calculation (computation) working sheet is required to show the acquisitions of these shares and the date of these shares becoming neglibile value for submission. Also, regarding the evidence for the claim, do I need to submit the relevant bank statement showing the stock shares are in "untrade" status (= NO market price) which absolutely implied the value of shares is negligible value that I would like to apply for the captioned claim in my tax return? I am looking forward to receiving your expert advice. Thank you.

Hi HMRC Admin 20, In response to your above advice, I would like to know if the total gain from the captioned partial stock disposal is below annual exempt allowance (GBP 6,000 for 2023/2024), am I still required to report this gain as a record or giving notice for HMRC's information, in my self assessment tax return. I went through some relevant comments in the HMRC forum. One HMRC staff replied that "It is only the loss that needs to be reported within 4 years to ensure it can be used. If you make a disposal that is over the annual exempt amount this needs to be reported in the tax year that it arises". Regarding the above statement, can I make it explicit that "I do not need to report any gain arisen from whole disposal or partial disposal of shares if such total gain is less than the annual exempt allwance (according to tax year)? And, the reporting of any capital loss is allowed to be made within 4 years from its arising. Such loss reporting serves to offset against future capital gains. There is no time frame for the "reported" capital loss to be used." Your expert advice (and reply) is highly appreciated. Thank you.