HMRC Admin 19 Response

Hi,
Capital gains will be due if there is any increase in value from the date you inherited to the date sold. You can see guidance here:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you.

Hi,
You can see guidance here:
Tax on your UK income if you live abroad
Thank you

Hi Kenton Sparks,
You can see guidance here:
Tax when you sell property
Thank you.

Hi Martyn,
You can see guidance here:
Rent a room in your home
Rent a room is appropriate in this circumstance. Under this you would not have to complete a return unless you were to go above the threshold of £7,500. How you apportion the running costs is up to you to establish what are your costs for running the rent a room scheme.
Thank you.

Hi,
As the total disposal was over £50000, you need to report this in a tax return. Yyou may be given a penalty as you do have Self Assessment criteria for the year.
Thank you.

Hi kbp78,
We cannot comment on any form of calculation/example or scenario, whether fact or fiction. We can only point you the direction of the guidance, so that you can review the guidance and to allow you to make an informed decision. If, after that you still need advice, you need to employ the services of a financial adviser. 
Thank you.
 

Hi,
Yes, you can claim Private Resdience Relief for the period it was your main residence.
Thank you.

Hi,
As the income arose in the actual trust in 2023 to 2024, it needs to be declared as 2023 to 2024 income.
Thank you.
 

Hi,
No election is required as it is the first house that is rented out. The Private Residence Relief will only be applicable when you come to sell and we cannot comment on what this will be as legislatoin can change.
Thank you.

Hi,
Please contact the Stamp Duty Land Tax team for advice.
Stamp Duty Land Tax
Thank you.