HMRC Admin 20 Response
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RE: How do I calculate the CGT on shares Im now selling
Hi Pomhk,
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal. For your convenience, there are exchange rates at
Exchange rates from HMRC in CSV and XML format
and for older rates at
Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009.
You are free to use any of the supplied rates or one of your own choosing.
You can use the date of the earliest share acquisition and use an exchange rate of your choosing.
Thank you. -
RE: CGT on Crypto disposal
Hi,
You will need to convert your USDT rate to pounds sterling to work out your gain.
If the USDT did not increase in value from the date you acquired it to the date you disposed of it, no capital gain arises.
Thank you.
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RE: How To avoid double taxation with a job for Italy
Hi,
You will need to request a certficate of residence (How to apply for a certificate of residence to claim tax relief abroad) declaring your foreign self employment earnings.
You would send the COR to the Italian tax authorities to claim back any tax deducted.
You would declare the foreign self employment income in your tax return.
Thank you. -
RE: Redundancy Pay and Pensions
Hi,
Only the part of the redundancy payment over the tax exempt threshold of £30,000 can count as relevant UK earnings.
Thank you. -
RE: Foreign income on Form SA100 if I claim remittance basis
Hi,
Your understanding is correct.
Thank you. -
RE: Inheriting cash ISA whilst I am not a UK resident
Hi,
Unfortunately you would not be abe to do this, the inheritance you stand to receive is cash regardless of currently where it sits, so once this is inherited by yourself it is treated as such, so whilst you are a non resident you cannot put this into your own ISA due to the rules on this Individual Savings Accounts (ISAs) If you move abroad
Thank you. -
RE: ISA’s from April 2024
Hi Tyler@3671,
That is correct.
The maxiumum you can save in ISA is 20000, there is no limit on how many individual ISAs you open as long as the maximum you save combined is 20000 in total.
Individual Savings Accounts (ISAs)
Thank you. -
RE: P85 - Tax refund to UK Bank account
Hi,
We cannot send a repayment directly to your bank account if you are due a PAYE repayment.
If you are due a repayment you will receive a P800 tax calculaion in the post which will give options to claim your repayment. Tax overpayments and underpayments
Thank you. -
RE: Part time second job tax
Hi Holly,
The personal alllowance for the year is 12570(1257L) tax free, you can earn in the next 1- 37700(not including scotland) that will be liable to tax at 20%(BR).
Based on what you have advised on your main income being £18779, this means you would be liable to tax at 20% (Basic Rate) on your temporary Christmas employment.
Make sure you sign a P46 with the new employer and tick Option C.
Thank you. -
RE: P85 for past years
Hi michelle.s,
The time limit for making a tax reapyment claim is four years after the end of the tax year in question, which in your case was 5th April 2018, so this time elapsed on 5th April 22.
Thank you.