KuenHK Lam

Hi, I have purchased (acquisited) a total of 20,000 stock shares in July 2009. I hold these shares for many years. In May 2023, the company sent out a cash offer to the existing shareholders in order to buy-back some shares. At the end of May 2023, I accepted a cash offer to sell back my 2,500 shares as a kind of buy-back to the company. I then got cash money for this buy-back offer. In this regard, I would like to know if this receiving cash money will be treated as "capital gain" or "income" and need to report it to HMRC for tax year 2023-2024. Secondly, for the above case, I still hold 17,500 shares on hands at this moment. I wonder if I am not required to report this transaction to HMRC for tax year 2023-2024 until all shares are sold out in future years and then submit SA108 form with computation worksheets by one go (to calculate whether it is a capital gain or capital loss). Your expert advice is sought. Thank you in advance.

Hi, I would like to report my captial gains from overseas stock shares. When preparing the computation worksheet, I need HMRC monthly exchange rate in order to calculate the gain / loss amount in GBP for tax return. From GOV.UK website, HMRC monthly exchange rate for publication only starts from 2012 onwards. In my case, some acquisition dates for overseas stock shares are in 2008, 2009, 2010 and 2011. As such, may I ask where I can find these most previous years' exchange rate informaton so as to calculate gain / loss amount for self assessment tax return. In case these information are not available in UK government website, could you advise me on other calculation method(s) for such reporting to HMRC? Thank you in advance.

Hi, I got a NI number and would like to file my self assessment tax return online. So, I tried to apply for a Government Gateway ID so as to login (to have) my personsl tax account. But, when I applied for Government Gateway ID, as I do NOT have the UK passport or UK driving licence which are used to verify my identity, I am NOT able to pass through the identity check at this moment. Could I have your expert advice to solve this verification problem? (NB: I have only an international passport. The system does not allow to enter other passport number, only UK passport being allowed.) I am looking forward to receiving your reply. Thank you in advance.

Hi, My parents recently living in UK do not know any English, but they need to submit Self Assessment Tax Return yearly because they receive foreign income. I would like to ask if I, being their Next of Kin, need to apply (register) for the role of "Appointee" or "Intermediary" in HMRC when helping them to handle (complete) any issues about tax return, claim and payment (if needed). If such role is needed, could you please provide me the application details for my further action? On the other hand, what is the differrence between "Appointee" and "Intermediary" in case I am told to apply for either one? Thank you in advance for your expert advice.

Hi, I am completing the self-assessment tax return for 2023-2024 via commerical software, at the page of tax calculation summary, it shows that I need to pay the income tax by 1st and 2nd payments. I wonder if the tax payment should be paid by one-off, or it can be settled by 2 payments in different dates. And, what is/are the dates I should settle this payment for income tax for tax year 2023-2024? I am looking forward to receiving your reply. Thank you.

Hi, I would like to ask if NI number is a must for opening a cash ISA account. I have parents who are already over retirement age and not eligible to apply for a NI number by HMRC due to their currrent retirement age. When they try to apply for a cash ISA account in which NI number is required, and so they are not allowed to apply for this kind of ISA account due to the reason "no NI number". But they have opened the current and saving accounts at local bank. From this above experience, I wonder if the retired adult with No NI number is deprived of this tax benefit from HMRC / UK Government. Please advise / confirm. Thank you.