KuenHK Lam

Hi HMRC, I would like to know if the election for foreign loss (loss on disposals of non-UK asset such as foreign stock shares) to be allowable losses is "the right" of the remittance basis user. I am UK tax user and domiciled in the UK. I am still having some foreign stocks which arise some gain or loss after disposals. For self assessment tax return, am I eligible to claim or elect the foreign loss to be allowable loss? Also, I do not know which 3-letter code I should use for my above case? I am looking forward to receiving your expert advice. Thank you.

Hi HMRC staff, Thank you for your information. So, if the money I got from such disposal of partial shares of the overseas stock is below the annual exempt amount (GBP 6,000 for tax year 2023-2024), then I do NOT need to report this disposal in my self assessment tax return. Am I right? On the other hand, I unexpectedly got a loss of all shares of one stock due to the untrade status of these stock shares (because the stock company removed its stock code from Hong Kong Stock Exchange and change it with internal reference code, showing "untrade" status in my bank statement. In this regard, can I regard this untrade status (= no any market values shown in the bank statement) as capital loss? And, is it better for me to report this loss in the tax year it is arising? Thank you.

Hi HMRC Admin 19, Regarding the capital gain or loss to be reported within 4 years of its arising, may I confirm if I sold out only some shares of one stock for this tax year and still keep some shares of the same stock, waiting for future disposals in coming years, should I need to report to HMRC about this partial disposal of shares in my self assessment tax return for this year? If yes, then how to report it in the calculation working sheet? (*In my knowledge, the calculation working sheet is to work out the calculation for the disposal of "whole shares" for one stock so as to identify if it is the capital gain or loss. But, in my case, it is only a partial share disposal for one stock, I am not able to know whether it is a gain or a loss as it is not an overall result.) OR, am I allowed to report all disposals (including captioned transaction and future transactions within 4 years of its arising) for that same stock by one go? (so that HMRC is able to get the full picture (calculation) for whole disposals of one same stock.) I am looking forward to receiving your expert advice for my above concerns. Thank you.

Hi HMRC, I am writing to ask about the reporting of capital gain / loss from the sale of stock shares. Let says, I had bought 1000 share units of one stock in previous years, and now I sold only part of share units (e.g. 400 units) of that share stock last year. For the self assessment return of tax year (2023/2024), am I required to report only this partial sale of stock units in the calculation sheet to HMRC? OR, I only need to do the reporting of the captial gain / loss until ALL share units are sold out in the future years. Grateful for your expert advice. Thank you in advance.

Hi HMRC, Thank you for your advice. I bought and keep different stock shares via various banks over 20 years. I don't think the companies or individual banks are able to re-print the related transaction orders / records in response to my requests. That is why I ask for HMRC's further advice at this forum. I wonder if I can base on my written records to prepare the related calculation worksheets for capital gain/loss reporting. Or, I am required to provide previous purchasing transaction records for verification, otherwise, no claims for capital gain / loss can be reported to HMRC. I am looking forward to receiving your expert comment. Thank you in advance.

Hi HMRC, Thank you for the required link.

Hi HMRC, Thank you for your advice. But, when I access to online service you mentioned above, there is no (advisor) service available for my query. Do you have another source for my trial? Thank you.

Hi, I have various stock shares for more than 20 years and I lost all records / proofs of these purchasing orders including unit price and date of buying. I just have my own written record about when and how much the shares being bought. When I moved to UK last year and is a UK tax resident now, I need to submit self assessment tax return and report the capital gain or loss (if any) to HMRC. Could you please advise me how and what I should do if I have lost these purchasing transaction records? Thank you in advance.

Hi, I have purchased (acquisited) a total of 20,000 stock shares in July 2009. I hold these shares for many years. In May 2023, the company sent out a cash offer to the existing shareholders in order to buy-back some shares. At the end of May 2023, I accepted a cash offer to sell back my 2,500 shares as a kind of buy-back to the company. I then got cash money for this buy-back offer. In this regard, I would like to know if this receiving cash money will be treated as "capital gain" or "income" and need to report it to HMRC for tax year 2023-2024. Secondly, for the above case, I still hold 17,500 shares on hands at this moment. I wonder if I am not required to report this transaction to HMRC for tax year 2023-2024 until all shares are sold out in future years and then submit SA108 form with computation worksheets by one go (to calculate whether it is a capital gain or capital loss). Your expert advice is sought. Thank you in advance.

Hi, I would like to report my captial gains from overseas stock shares. When preparing the computation worksheet, I need HMRC monthly exchange rate in order to calculate the gain / loss amount in GBP for tax return. From GOV.UK website, HMRC monthly exchange rate for publication only starts from 2012 onwards. In my case, some acquisition dates for overseas stock shares are in 2008, 2009, 2010 and 2011. As such, may I ask where I can find these most previous years' exchange rate informaton so as to calculate gain / loss amount for self assessment tax return. In case these information are not available in UK government website, could you advise me on other calculation method(s) for such reporting to HMRC? Thank you in advance.