HMRC Admin 33
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RE: Transferring personal money to UK
Hi,
We can confirm that there are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Thank you -
RE: RSU shares withheld or sold for tax
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RE: CGT legal costs in repossession to be able to sell
Hi,
Yes, you can deduct legal fees. Please see the link below
CG15250 - Expenditure: incidental costs of acquisition and disposal
Thank you -
RE: Receiving gift money from parents in UK when a tax resident abroad
Hi,
We can confirm that there are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Thank you
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RE: Property repairs and maintenance cost is higher than income from property?
Hi,
Thank you for your question. Without seeing the screen and box numbers on the SA105 UK property page that you are referring to I cannot give a definite answer. However, the issue may be that you need to declare your rent received in box 20 and expenses in the relevant boxes. As there is no profit you would not include a figure in box 38 or 40, the adjusted loss (rent – expenses) would go in box 41; and 43 if you are carrying this forward to the following year. More information can be found in the UK Property Notes
UK Property Notes (publishing.service.gov.uk) page 10.
If you are still getting an error message please contact our online helpdesk
Self Assessment: online technical support - GOV.UK (www.gov.uk)
Thank you. -
RE: Gifting cash outright to pay for school fees
Hi,
We can confirm that there are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Thank you. -
RE: Transferring personal money to UK
Hi,
We can confirm that there are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Thank you. -
RE: Second employment in the Republic of Ireland.
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RE: How to report interest earned from joint-account?
Hi,
Please see the link below.
SAIM2420 - Interest: taxation of interest: joint accounts - HMRC internal manual
Thank you. -
RE: Clarification on Reporting Dividends Below the Allowance
Hi,
Please see the link below. You do not need to declare it.
Tax on savings interest: How much tax you pay
Thank you.