HMRC Admin 10 Response

Hi
 Yes, as it is a foreign gain, there is no minimum limit, so it must be declared in a tax return. You would declare the disposal on SA108 and SA106 if you are claiming a foreign tax credit.

Hi
Please submit your tax return.  Self assessment will calculate your class 2 and class 4 NIC contributions, which are payable along with any tax you owe.  Class 2 is a voluntary contribution for net profits below £6725 in 23/24.  If after tick the voluntary class 2 box, your NIC payment is not included, you will need to contact the NIC helpline on 0300 200 3500 and pay the NIC directly.

Hi
You would probably show your acquisition cost of the shares, the cost of acquiring them.Details of the bankruptsy that make the shares worthless, so that you can work out how much was lost and how much is claimed as a loss in your tax return.

Hi
As you arrived in the Uk on 1 February 2023, your arrival falls into the 22/23 tax year and a tax return would be required for UK and foreign income arising from that date up to 5 April 23 claiming split year treatment that is if there is any UK and foreign income between 1 Feb and 5 April 23) in a 22/23 tax return.  From 6 April 23, you would declare your worldwide income for the whole tax year of 23/24 and do this each year going forward.

Hi
Any dividends yielded by the shares after they are distributed to the beneficiary, would be taxable. Up to the point of distribution, they are still part of the estate.

Hi
The sale will need to be reported to HMRC and the tax paid before the estate can be classed as finalised in order to distribute the funds. If they have reported the sale online they should have the details to allow them to pay. If in paper form, we aim to process these within 10 weeks of receipt.

Hi
You will still declare this as foreign income in the return and declare the tax deducted. If UK tax is due on this you can then claim foreign tax credit relief to reduce your UK bill.

Hi
As they are automatically reinvested by the company, no. 

Hi
If already reported, no. It will be there until you need it.

Hi
You will base all your figures on the percentage you are gifting and the form asks how much you are disposing of.