Capital Gains on Investments - First post

[uktaylor]

Hi I have POA and recently cashed in some policies for a relative. These will incur a capital gain over the allowance for the tax year. Has anyone know how to approach HMRC to set up Self Assessment for elderly relative that is already in care. Thank you.

 

[nellbelles]

Hello @uktaylor Welcome to tp
It’s not something I personally have information on, have you tried phoning them?

https://www.gov.uk/self-assessment-tax-returns

 

[Katrine]

With POA you are acting on the person's behalf. You can submit self-assessment tax returns online (recommended over paper, it's much simpler). There is a section at the end of the process to state who you are and in what capacity you are acting. Lawyers and accountants submit returns for clients all the time, so it's quite usual to act as the agent of a taxpayer.