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Started by LANDLADY43, 15-06-2019, 06:59 AM
2 responses
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Last Post blinko
by blinko
 
Started by stps, 13-06-2019, 10:54 AM
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Last Post blinko
by blinko
 
Started by alenuk, 05-06-2019, 10:16 AM
6 responses
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Last Post tatemono  
Started by annam222, 07-06-2019, 10:47 AM
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Last Post annam222  
Started by mrs. sparkle, 11-06-2019, 08:52 AM
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Last Post Gordon999  
Started by JamesHopeful, 09-06-2019, 16:13 PM
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Started by JKS, 08-06-2019, 19:07 PM
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Last Post blinko
by blinko
 
Started by Thyrsis, 06-06-2019, 16:42 PM
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Last Post blinko
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Started by Nurse Ash, 07-06-2019, 09:18 AM
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Last Post blinko
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Started by ravi8, 05-06-2019, 11:23 AM
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Last Post blinko
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  • Selling too many props too soon???
    LANDLADY43
    Hubby and I have a couple of BTL properties.

    In October 2016 we sold one BTL house and paid CGT
    In January 2019, we sold our residential house and moved into a house we built next door.

    However, due to my elderly mother being taken ill, we have decided to now move...
    15-06-2019, 06:59 AM
  • Reply to Selling too many props too soon???
    blinko
    in your case no as there is a reasonable explanation behind them and its inconsistent. so there is no limit as such BUT you might want to consider the annual capital gains allowance , you have one of these each year and it resets each year april 2019 to april 2020
    16-06-2019, 12:06 PM
  • Selling and the 'wholly and exclusively' test
    stps
    We have a flat that we bought to let and have done so for 10 + years. It has never been particularly profitable, so we decided to cut our losses and sell. The property was bought to let and has never been used for anything else but letting.

    The tenants moved out in October, at which point...
    13-06-2019, 10:54 AM
  • Reply to Selling and the 'wholly and exclusively' test
    blinko
    Well in normal circumstances these are allowable and offset against income, like wise if you make a loss you just carry this forward to set against property income that may arise in the future.

    mortgage interest, ground rent, maintenance, energy costs and council tax

    BUT you...
    16-06-2019, 12:03 PM
  • Reply to Selling too many props too soon???
    Gordon999
    If there is potentially a huge capital gain on current house if sold and you want to have it covered as your PPR , then perhaps you should consider staying for longer period to avoid being taken as a property trader....
    15-06-2019, 08:51 AM
  • Reply to Selling and the 'wholly and exclusively' test
    Gordon999
    The flat remains as a BTL property until it is put to another use ( by moving in or selling. )

    So I would claim all of the allowable maintenance expenses incurred whilst it is vacant after the last tenant had moved out.

    https://www.gov.uk/hmrc-internal-man...anual/bim80565...
    13-06-2019, 12:54 PM
  • Reply to Selling and the 'wholly and exclusively' test
    theartfullodger
    You have used those expenses to allow you to market it, surely. If you'd not, say, paid mortgage you might be being repossesed.

    MIGHT be allowable as selling costs for CGT. Get professional advice from accountant specialising in this area or buy a book on property tax.

    There...
    13-06-2019, 11:07 AM
  • Help with Calculating TAX On Rental Income ? YEAR 2018-2019
    alenuk
    Dear All

    I understand there have been some changes recently when it comes with calculating rental income and how much tax needs to be paid.
    Was wondering if there is some website that helps with calculations since my situation is relatively simple.

    The YEAR 2018-2019...
    05-06-2019, 10:16 AM
  • Reply to Help with Calculating TAX On Rental Income ? YEAR 2018-2019
    tatemono
    if you're a UK resident, otherwise you have to use their approved software to file online. OP seems to be resident but other readers might not be....
    11-06-2019, 15:20 PM
  • Income tax- service charge & major works charge
    annam222
    Hi all,
    Apologies for asking something which is probably very basic. I am not too good with numbers and finding it hard to understand all of the terminology.
    I am looking to rent out my one bedroom property. I know I can offset/reduce the income tax amount by some of my mortgage interest...
    07-06-2019, 10:47 AM
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