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

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

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

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?

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?

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

E

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.

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