William KD
-
RE: claim foreign tax credit relief
Hi HMRC, again. For the record, there is also no change in the final figure when I also put a number with a minus figure under 'Losses and Adjustments', as per below, in addition to checking that foreign credit relief box in the Tailor your returns section. It still makes no difference. Is there a bug? Tax adjustment to 2023-24 capital gains Adjustment to Capital Gains Tax: (optional) -XXXXX Help about: Capital Gains Tax 65 - Adjustment to Capital Gains Tax This field will not apply to many people. The amount to enter is the amount of the adjustment needed to increase or reduce the amount of Capital Gains Tax. If the adjustment is intended to reduce the amount of Capital Gains Tax payable, put a minus sign in front of your figure. You must explain in your computations how any adjustment has been calculated. If your adjustment reduces the amount of Capital Gains Tax payable, include a minus sign before the adjustment figure. You may need to enter a net adjustment figure here if: your capital gains has Foreign Tax Credit Relief -
RE: claim foreign tax credit relief
Hi HMRC, Any further thoughts on the issue I and Eduardo S have reported? Best regards, -
RE: claim foreign tax credit relief
Hi HMRC, Yes, I had already answered "yes" to the question - "Do you wish to claim Foreign Tax Credit Relief on Capital Gains". That's not the issue. Regards -
RE: claim foreign tax credit relief
Hi, No matter which figure I put in, my tax return form still shows my foreign tax credit relief for a capital gain on a property sale as zero even though I have already paid 19% on this gain in Spain. I believe the UK has a double taxation treaty with Spain. On the sheet 'Capital gains - foreign tax credit relief and Special Withholding Tax' I have highlighted both the capital gain under 'Amount of chargeable gain under UK rules' and the Spanish CGT paid under 'Foreign tax paid: (optional)'. When I put in a figure indicating the tax paid under 'Tax adjustment to 2023-24 capital gains', whether without or without a minus figure, it makes no difference either. I'm not expecting to offset all my UK CGT liability (which, after all, is set at a higher rate) but neither do I expect to get zero relief back when I have already paid 19%. Am I missing something? Cheers