Tax Questions

Collapse

Forums Topics Posts Last Post
No forums found.
  •  
  • Filter
  • Time
  • Show
  • New Topics
Clear All
new posts
There are no conversations in this channel.
 
  • Filter
  • Time
  • Show
Clear All
new posts
Please log in to your account to view your subscribed posts.
  •  
  • Filter
  • Time
  • Show
  • Sort By
  • Order
Clear All
new posts
Topics Statistics Last Post
Started by JamesHopeful, 26-11-2020, 17:19 PM
3 responses
28 views
0 likes
Last Post Gordon999  
Started by jase222, 23-11-2020, 18:51 PM
11 responses
112 views
0 likes
Last Post gnvqsos
by gnvqsos
 
Started by ChloeRadshaw, 05-11-2020, 16:46 PM
23 responses
199 views
0 likes
Last Post Gordon999  
Started by ThePalmist, 09-11-2020, 19:16 PM
12 responses
95 views
0 likes
Last Post ThePalmist  
Started by Celibin, 25-11-2020, 15:44 PM
2 responses
35 views
0 likes
Last Post Gordon999  
Started by BTL_Bertie, 13-11-2020, 13:55 PM
14 responses
182 views
0 likes
Last Post Celibin
by Celibin
 
Started by smitchell, 24-11-2020, 21:59 PM
1 response
19 views
0 likes
Last Post Gordon999  
Started by ben100, 19-11-2020, 21:10 PM
8 responses
123 views
0 likes
Last Post Hollywood  
Started by Hailsy, 20-11-2020, 16:56 PM
2 responses
40 views
0 likes
Last Post Gordon999  
Started by gullarm, 16-11-2020, 12:33 PM
6 responses
100 views
0 likes
Last Post Gordon999  
No topics found.

Latest Topics

Collapse

  • Reply to Tax treatment of initial purchase of furniture
    by Gordon999
    The first time purchase of furniture is a capital expense for calculating capital gains and cgt .

    The second time purchase (to replace aged furniture) is a revenue expense for calculating rental profit and income tax.

    If the property is held by a limited company, the furniture...
    27-11-2020, 23:12 PM
  • Tax treatment of initial purchase of furniture
    by JamesHopeful
    I am aware that the like-for-like replacement of furniture in a rental property is a revenue expense under the Replacement of Domestic Items relief.

    However, what about when you initially purchase furniture, either for a new rental property which you bought unfurnished or where you have,...
    26-11-2020, 17:19 PM
  • Reply to Tax treatment of initial purchase of furniture
    by AndrewDod
    The furniture (unless some sort of special antique) decreases in value with time -- so most definitely not a capital expense.....
    27-11-2020, 12:41 PM
  • Reply to Transfer to wife
    by gnvqsos
    Yes but the money saved on CGT must have been used in extra bus and ferry fares.He seems a bit of hand -shandy merchant...
    27-11-2020, 05:32 AM
  • Transfer to wife
    by jase222
    Hi,
    I have a property I am hoping to sale next year and looking to save tax on a gain of 150k and was thinking about transferring a portion to the wife but to be honest I don't know to much about it and looking for pointers.
    Cheers...
    23-11-2020, 18:51 PM
  • Reply to Tax treatment of initial purchase of furniture
    by jpkeates
    I think that the initial purchase of furniture gets no tax relief at all.

    Although it's irrelevant, for a company a capital gain is income, so if the purchases would be allowable (when sold) against a capital gain for a person, for a company, they'd be costs allowable against income when...
    26-11-2020, 17:28 PM
  • Reply to Transfer to wife
    by jpkeates
    In which case Gordon is spot on in post #4.

    Married couples are allowed to arrange their tax affairs to ensure that they pay the right amount of tax - as married couples financial affar=irs usually aren't laid out in a formal way.

    And it's a specific tax break that is available...
    26-11-2020, 17:23 PM
  • Reply to Default Property Sale - CGT - Non resident Tax Payer
    by Gordon999
    J256,

    I found in your example Ramsey v. Hmrc, there was an appeal against the FTT decision which was successful. So Mrs Ramsey was found to be operating a business. I don't think Chloe wants to have her BTL property treated as operating a business in UK.
    26-11-2020, 16:30 PM
  • Default Property Sale - CGT - Non resident Tax Payer
    by ChloeRadshaw
    This thread will try to understand better the rules around property disposal for non UK tax payers.

    Background:
    Property bought in 2006 for 240K - Now worth 500K. I am non tax resident in the UK and this has always been a BTL rented out

    Problem
    I have 260K CGT
    ...
    05-11-2020, 16:46 PM
  • Remortgage from single to joint - SDLT?
    by ThePalmist
    Hi Guys,

    So I am on a quest to do all I can to be tax efficient as per my previous thread

    https://forums.landlordzone.co.uk/fo...tax-efficiency

    Long story short, I have a BTL [used to be our home] in my name only and I am...
    09-11-2020, 19:16 PM
Working...
X