HMRC Admin 10 Response

Hi
A capital gain that does not arise from the disposal of residential property or land, can be reported using the RTTCGT service up to 31 December after the end of the tax year in which the gain arises.  E.g.  disposal of shares in 24/05, can be reported using the RTTCGT service up to 31 December 2026.  After this date, it must be reported in a self assessment tax return.
 

Hi
You have declared the losses.  They are being carried forward.  It's just that is not automatically included.  You need to manually include the loss being carried forward on each tax return.

Hi Marc
As there are 3 of you, all the costs, such as solicitors fees, estate agent fees, etc are divided 3 ways.  This allows each beneficiary to deduct and equal amount of expenses. When declaring your gain on the capital gains return form, everything shown on the form is 1/3 of the full amount. Eg. As the disposal value of the property was £360,000, you divide this by 3 to get each individual's disposal value of £120,000.  Do this with the probate value at date of death and deduct from the disposal value and then deduct 1/3 of the allowable costs.  This will give each of you, your own individual gain.

Hi
Provided any income arising from the capital in this account ocurred while you were not resident, then it is not taxable.  Any income that did arise while you were resident in the UK, is taxable and should be declared.  There are no other tax implications on the transfer of the capital to the UK.

Hi
Your income arising in Canada, before you came to the UK, is not taxable and does not need to be declared.

Hi
A split year is split into two periods.  A period you were not in the UK and a period you were.  You mentioned that you arrived in the UK on 19 May 23, so this is the day the split occurs.  It is the other circumstances that determine that a split is allowed and it is your date of arrival that determines when the split happens.

Hi
Please declare your gross pension payments in box 1 of page TR4 in your self assessment tax return or online equivalent.  This will extend your basic rate band to reduce the amount of income taxed at 40%, giving your 20% tax relief.

Hi
As your bonus payments will be included in your overall taxable pay, you are entitled to claim the higher rate tax relief on the pension contributions that you make in the year.

Hi
It depends on the breakdown of the code as to how you would declare the details. If you contact HMRC we can access the record to advise you Self Assessment: general enquiries

Hi
If the interest and capital gains arise in the UK, while you are not resident, then you need to check the tax treaty with Thailand (UK/THAILAND DOUBLE TAXATION CONVENTION ).  You may find they are taxable in Thailand.  Please also have a look at the guidance helpsheet HS300 regarding non residents and investment income.  (HS300 Non-residents and investment income (2024)