HMRC Admin 25 Response

Hi Taxpayer402,
You might want to send your computations by post too in event you still have some unused losses to carry forward.
Thank you, 
 

Hi edlanwarne,
Yes, these can be classed as expenses for improvement costs to reduce your capital gain.
Thank you. 

Hi Matthew Dyer,
I think in this case it would be best to contact HMRC direct:
Contact HMRC
Thank you. 

 

Hi Je77 Jones,
Where the double taxation agreement confirms the pension is only taxable in Hong Kong, then the pension would only be declared as additional information in box 19 of SA100.
In this way, you are complying with the requirements of full disclosure, but not being taxed on the pension.
Yes, overseas interest shoudl be included in your Self Assessment tax return, in pounds sterling.
Thank you. 

 

Hi Karen Gibbons,
There has been a change in process regarding assignments.
Any assignments received after 19 July 2023 will not be accepted and the repayment will be made direct to the customer, unless the claim also includes a valid nomination. 
Thank you. 
 

Hi edlanwarne,
On the basis of the info provided, you would be covered by Private Residence Relief for the first 10 years of ownership, but potentially liable to Capital Gains Tax in relation to the period when the property is rented out.  
Tax when you sell your home   
 Sorry, we are unable to answer Inheritance Tax (IHT) queries on this forum, but you may wish to direct your question to our colleagues on the IHT helpline Tel:  0300 123 1072.
Inheritance Tax: general enquiries
Thank you. 
 

Hi robertlam,
Box 34 is the total of the unremitted income and box 40 is a breakdown of the summary figure in box 34, as you suggest in your example.
Thank you. 

Hi Jack So,
Only of there was a capital gain using the UK rules for working out the gain.
You may find that private residence relief will cancel out any gain.
All parts of the calculation must be in pounds sterling using a just and reasonable exchange rate in use at the time of acquisition / disposal.
There is a calculator at to help work out if there is a gain.
Tax when you sell property
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.
HMRC provides a set of exchange rate for other reasons at:
Exchange rates from HMRC in CSV and XML format
and archived at:
Exchange rates.
There is a choice of rates, you are free to use any of them or a rate obtained elsewhere.
Have a look at:
Private Residence Relief (Self Assessment helpsheet HS283)
Thank you. 

Hi Eva,
Yes you can if no foreign tax has been deducted on it.
Thank you. 
 

Hi Susi,
Yes, under Article 17 of the double taxation treaty they are taxable here.
Please aslo refer to helpsheet 264 as you state you have domicile status: 
Remittance basis 2021 (HS264)
Thank you.