Pattaya Enhances Safety Measures with Realistic Fire Drill on School Buses

[ernest1966]

Ok, strange question.

A long time ago, I worked as a freelancer, made loads of dosh, paid my tax on it. I loaned 20 thousand gbp to my mum, to help her by flat, for investment purposes.

Recently she has sold the flat, and because I haven't asked for the money back, but left it with her I need to write a letter to the inland revenue stating what I have just written.

Now, if it is "notarised" by a Thai solicitor, is this acceptable ? Or do I have to go to the UK embassy, get it notarised by an embassy solicitor ?

If it's the thai option, does it have to be translated as well etc ?

Thanks for your feedback.

E

[malcolminthemiddle]

If you've already paid tax on the 20K as you mention, why do you need to contact the IR?

[patklang]

Didnt know an english guy can work as a feelancer here lol.

[ernest1966]

erm... i don't know what you mean patklong... lol

anyhow, the letter is cos of the profit on the place, obviously me ma is cutting me in on that, so...

any ideas folks?

[PattayaParent]

If you're a non resident then you don't have to pay tax on capital gains.

If your Mum isn't buying and selling housese as a business and doesn't own more than 2 (I think) then she doesn't have to pay capital gains tax.

So why do you want to tell the IR anything?

Can't your Mum just be giving you a gift of money or is this something to do with IHT also?

[ernest1966]

the limit is one on CGT, thats why I have to send the letter. Whats IHT ?

E

[PattayaParent]

the limit is one on CGT, thats why I have to send the letter. Whats IHT ?

E

IHT = Inheritence Tax

I thought the allowance was 2 houses before CGT, one of which must be your primary residence.

[malcolminthemiddle]

Just consider your share of the profit to be a gift or free loan from your Mum.