HMRC Admin 13 Response
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RE: Offsetting share losses against CGT on domestic property in current tax year
Hi
To answer your query we would advise as follows:- A) yes you can offset losses from shares against the gain from the property but they must have occurred before you report the sale. if not then
- B) B applies and you can declare all losses in the year
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RE: Tax on overseas income coming into the UK
Hi
As a UK resident you are liable on your worldwide income.
Any income from abroad would therefore need to be declared whether you transfer the funds to the UK or not. Only the actual capital is tax free but you would declare interest and dividends that this generated.
Thank you -
RE: CGT on gifted stock/share
Hi Yes. if the value has increased CGT may be due. The purchase price to work out the gain is what you paid for it and any amount over that falls into CGT category. The current annual allowance is £3000 so anything over that you would pay CGT Thank you -
RE: Capital Gains and Self Assessment
Hi As you are completing a return for the year concerned then you will have to declare the sale on the return as well. Thank you -
RE: ISA Transfers and new ISAs
Hi Yes you can. You would need to arrange that with your provider and pension company Thank you -
RE: Child Trust Fund
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RE: Self-employment and foreign income
Hi
Please see guidance atPaying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you -
RE: Capital Gain and foreign dividend - Use of exchange rates
Hi
Old exchange rates are now held in the National Archive. The information can be found here HM Revenue & Customs: Exchange rates
Thank you