HMRC Admin 21 Response

Hi Cormac,
Provided the shares were unlisted shares and securities, losses can be set against income.  A tax return will be required to claim those losses and elected to set them against income on page CG2 of SA108 or the online equivalent.  If they were listed shares and securities, then the loss can only be carried forward.  (https://assets.publishing.service.gov.uk/media/660bbb40f9ab417b75eea375/sa108_2024.pdf).
Thank you.

Hi CF W,
No. as it is in his name only it cannot be split.
Thank you.

Hi u954243,
You pay tax on the gain in the country you are resident in at the time the asset is sold -
CG25100 - Effects of residence and domicile: temporary residence.
Thank you.
 

Hi Glenda,
Thank you for your question.
I refer you to HS270 - 
HS270 Trusts and settlements - income treated as the settlor's (2024) if any 1 of the 3 situations described in point 1 of the help sheet apply then your son would be liable to tax as a settlor as described in:
TSEM4200 Settlements legislation: settlor retains an interest.
Thank you.

Hi VAThell,
I am sorry that you are not getting the required help with this issue.
Can you call our Helpline again and state that you would like to speak to a technician regarding an issue which is not getting resolved.
The advisor will then either pass the call through to us or they will set it as a call back for us to speak to you at an agreed time.
Thank you.

Hi mike,
Roth Individual Retirement Accounts payments to a UK resident that are not taxable in the United States are not taxable in  the United Kingdom. Have a look at DT19852 - Double Taxation Relief Manual: Guidance by country: United States of America: Treaty summary Note 2 in relation to other pensions. 
There is no US taxation if the pension is subject and liable to UK tax. If US tax is withheld you should seek a refund of this tax (file a form 1040NR), HMRC will not give you a credit for this tax against any UK tax charged on this income.
Thank you.

Hi Taxmail,
When post is received it is scanned on to our systems so that it can be processed from any location. It is Legislation that dictates that trust returns cannot be done online.
Thank you.

Hi Problema,
If you opened one, you will have paperwork from the relevant bank to confirm and should only contact HMRC as a last resort.
Thank you.