HMRC Admin 10 Response

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No as you are not UK resident.

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You are only due the annual exempt amount in the year of disposal. The guidance states that the allowance may be available in the year of death and following 2 years, not all 3 years allowable in the 1 year.  The unused allowance cannot be carried forward. This applies to everyone.

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You will need to enter the disposal as £1 and then add that again to the loss so that you dont lose out.

HI
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances. if you still need assistance telephone 0300 200 3310

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Any UK resident with a gain resulting in a tax liability, must declare the gain.  Any non UK resident disposing of a property must declare the disposal.

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This income is only taxable in Hong Kong, so does not need to be included on a self assessment tax return.

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You will need to provide estimated figures in the 2023/24 tax return for the filing deadline and you can then amend it once you have the actual figures.

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If your Personal Tax Account does not show your 23/24 tax calculation, contact us by webchat via Income Tax: general enquiries - we can progress your calculation for the year, and advise your further on any outstanding information needed.

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The original question related to income tax on a French savings account.  Article 12 of the tax treaty covers interest and advises that interest arising in France and is owned by a resident of the UK, is only taxable in the UK.  (UK/FRANCE DOUBLE TAXATION CONVENTION ).  If the individual is a UK resident, they should request a certificate of residence (How to apply for a certificate of residence to claim tax relief abroad) which they can use to claim the tax back from the French tax authorities.  The UK resident should declare the gross interest in the self assessment tax return, but cannot claim a foreign tax credit, as tax is not payable in France on the interest.
 

Hi
No, you do not need to include this sale in your 2024 Tax Return - please see the following Guidance - Tax when you sell property