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Started by divadee, 07-08-2020, 09:48 AM
14 responses
101 views
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Last Post flyingfreehold  
Started by dexterpierson, 14-09-2019, 10:11 AM
9 responses
133 views
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Last Post dexterpierson  
Started by JamesHopeful, 23-09-2020, 14:10 PM
8 responses
81 views
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Last Post jpkeates  
Started by halfax, 12-09-2020, 18:51 PM
11 responses
82 views
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Last Post theartfullodger  
Started by Toon123, 24-09-2020, 07:47 AM
4 responses
26 views
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Last Post theartfullodger  
Started by jackboy, 23-09-2020, 13:25 PM
2 responses
40 views
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Last Post jpkeates  
Started by More, 21-09-2020, 06:57 AM
4 responses
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Last Post AndrewDod  
Started by ChloeRadshaw, 20-09-2020, 14:41 PM
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Last Post boletus
by boletus
 
Started by paduk, 13-09-2020, 18:18 PM
16 responses
194 views
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Last Post Jon66
by Jon66
 
Started by Chester Perry, 20-09-2020, 19:12 PM
7 responses
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Last Post Chester Perry  
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  • Tax to Pay on Lease Extension
    by divadee
    Myself and partner own the freehold to the building we live in, this is in the form of a limited company. We were accidental freeholders as the previous freeholder wanted to sell and no one else living here wanted to buy it so we bought it to have some control over the service charges etc....
    ...
    07-08-2020, 09:48 AM
  • Reply to Tax to Pay on Lease Extension
    by flyingfreehold
    it applies where someone could exercise their right to compulsorily acquire. we have only claimed the extra statutory concession where an extension is granted strictly clause 56 of the act but it may be allowable on a non statutory extension at a nominal ground rent....
    25-09-2020, 20:24 PM
  • Reply to Tax to Pay on Lease Extension
    by Gordon999
    You should look at the last set of company's accounts and check if the money to pay for purchase of the freehold is shown money as "borrowed from Director" . The situation may well be the company has made a loss £9K- £10K .and the funds held by the company can be paid back to Director to...
    25-09-2020, 13:23 PM
  • council tax liability
    by dexterpierson
    I had a tenant who moved out of my property without giving any notice and posted the keys through the estate agent's letterbox.
    I notified the council of this and the date the keys were returned and resumed liability for the council tax while the property is empty.
    The council got back in...
    14-09-2019, 10:11 AM
  • Reply to council tax liability
    by dexterpierson
    That is brilliant.
    Thank you so much
    25-09-2020, 11:21 AM
  • Reply to Tax to Pay on Lease Extension
    by Section20z
    Does that only apply where they "could have" and did, or also if the non statutory option is followed ?...
    25-09-2020, 08:14 AM
  • Reply to Tax to Pay on Lease Extension
    by theta
    My understanding (with the caveat that I'm not an accountant) is that the proceeds are not income but partial disposal, therefore return of capital plus gains. Within a company there's no difference between CGT and income tax, but it does mean that you offset the original acquisition cost....
    25-09-2020, 07:06 AM
  • Reply to Rumours of CGT moving to marginal income tax rate - would it be immediate?
    by jpkeates
    It's not a fiddle, it's impossible (without a bent accountant).

    The idea that a capital gain can be "realised" through adjusting share prices is wrong.

    Until sold, the value of property (and any increase) simply sits on the balance sheet.
    That may make the business...
    24-09-2020, 18:03 PM
  • Rumours of CGT moving to marginal income tax rate - would it be immediate?
    by JamesHopeful
    There have been rumours in the press that the Chancellor is considering taxing capital gains at marginal income tax rate, and that this may be announced at the November budget. Does anyone have any idea whether this change be likely to be immediate (like changes to SDLT often are) or would it be from...
    23-09-2020, 14:10 PM
  • Reply to council tax liability
    by jpkeates
    In which case, the council are possibly wrong and the case they're citing shouldn't help them.

    The key part of that decision is that the landlord (who was the owner), knew that the property was empty - and had even said that to the council.
    So it was clear that the landlord could...
    24-09-2020, 17:39 PM
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