KuenHK Lam

Hi HMRC, Regarding the negligible value claim for stock shares, I would like to know if such claim could be reported in the SA108 supplementary page together with Self Assessment Tax Return, and secondly, if the calculation (computation) working sheet is required to show the acquisitions of these shares and the date of these shares becoming neglibile value for submission. Also, regarding the evidence for the claim, do I need to submit the relevant bank statement showing the stock shares are in "untrade" status (= NO market price) which absolutely implied the value of shares is negligible value that I would like to apply for the captioned claim in my tax return? I am looking forward to receiving your expert advice. Thank you.

Hi HMRC Admin 20, In response to your above advice, I would like to know if the total gain from the captioned partial stock disposal is below annual exempt allowance (GBP 6,000 for 2023/2024), am I still required to report this gain as a record or giving notice for HMRC's information, in my self assessment tax return. I went through some relevant comments in the HMRC forum. One HMRC staff replied that "It is only the loss that needs to be reported within 4 years to ensure it can be used. If you make a disposal that is over the annual exempt amount this needs to be reported in the tax year that it arises". Regarding the above statement, can I make it explicit that "I do not need to report any gain arisen from whole disposal or partial disposal of shares if such total gain is less than the annual exempt allwance (according to tax year)? And, the reporting of any capital loss is allowed to be made within 4 years from its arising. Such loss reporting serves to offset against future capital gains. There is no time frame for the "reported" capital loss to be used." Your expert advice (and reply) is highly appreciated. Thank you.

Hi HMRC, I would like to know if the election for foreign loss (loss on disposals of non-UK asset such as foreign stock shares) to be allowable losses is "the right" of the remittance basis user. I am UK tax user and domiciled in the UK. I am still having some foreign stocks which arise some gain or loss after disposals. For self assessment tax return, am I eligible to claim or elect the foreign loss to be allowable loss? Also, I do not know which 3-letter code I should use for my above case? I am looking forward to receiving your expert advice. Thank you.

Hi HMRC staff, Thank you for your information. So, if the money I got from such disposal of partial shares of the overseas stock is below the annual exempt amount (GBP 6,000 for tax year 2023-2024), then I do NOT need to report this disposal in my self assessment tax return. Am I right? On the other hand, I unexpectedly got a loss of all shares of one stock due to the untrade status of these stock shares (because the stock company removed its stock code from Hong Kong Stock Exchange and change it with internal reference code, showing "untrade" status in my bank statement. In this regard, can I regard this untrade status (= no any market values shown in the bank statement) as capital loss? And, is it better for me to report this loss in the tax year it is arising? Thank you.

Hi HMRC Admin 19, Regarding the capital gain or loss to be reported within 4 years of its arising, may I confirm if I sold out only some shares of one stock for this tax year and still keep some shares of the same stock, waiting for future disposals in coming years, should I need to report to HMRC about this partial disposal of shares in my self assessment tax return for this year? If yes, then how to report it in the calculation working sheet? (*In my knowledge, the calculation working sheet is to work out the calculation for the disposal of "whole shares" for one stock so as to identify if it is the capital gain or loss. But, in my case, it is only a partial share disposal for one stock, I am not able to know whether it is a gain or a loss as it is not an overall result.) OR, am I allowed to report all disposals (including captioned transaction and future transactions within 4 years of its arising) for that same stock by one go? (so that HMRC is able to get the full picture (calculation) for whole disposals of one same stock.) I am looking forward to receiving your expert advice for my above concerns. Thank you.

Hi HMRC, I am writing to ask about the reporting of capital gain / loss from the sale of stock shares. Let says, I had bought 1000 share units of one stock in previous years, and now I sold only part of share units (e.g. 400 units) of that share stock last year. For the self assessment return of tax year (2023/2024), am I required to report only this partial sale of stock units in the calculation sheet to HMRC? OR, I only need to do the reporting of the captial gain / loss until ALL share units are sold out in the future years. Grateful for your expert advice. Thank you in advance.

Hi HMRC, Thank you for your advice. I bought and keep different stock shares via various banks over 20 years. I don't think the companies or individual banks are able to re-print the related transaction orders / records in response to my requests. That is why I ask for HMRC's further advice at this forum. I wonder if I can base on my written records to prepare the related calculation worksheets for capital gain/loss reporting. Or, I am required to provide previous purchasing transaction records for verification, otherwise, no claims for capital gain / loss can be reported to HMRC. I am looking forward to receiving your expert comment. Thank you in advance.

Hi HMRC, Thank you for the required link.

Hi HMRC, Thank you for your advice. But, when I access to online service you mentioned above, there is no (advisor) service available for my query. Do you have another source for my trial? Thank you.

Hi, I have various stock shares for more than 20 years and I lost all records / proofs of these purchasing orders including unit price and date of buying. I just have my own written record about when and how much the shares being bought. When I moved to UK last year and is a UK tax resident now, I need to submit self assessment tax return and report the capital gain or loss (if any) to HMRC. Could you please advise me how and what I should do if I have lost these purchasing transaction records? Thank you in advance.