Tax Accountant- how to find one

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    Tax Accountant- how to find one

    Hello dear forum members

    Would anyone be able to provide some directions please as where to begin - what's the best way, what to look for in finding a very good and helpful tax accountant for a BTL property. ?

    Many thanks in advance
    Summer

    #2
    I found mine through their advert in the link below.

    https://www.landlordzone.co.uk/suppl...ounts-taxation

    Comment


      #3
      If your property is let and managed by a professional letting agent and you get 12 monthly statements, you may be able to complete the annual tax return for rental income and expenses yourself. If you feel this tax return is stressful , your letting agent may recommend someone offering such service

      If you are in a complicated tax situation and require face to face meeting with a tax accountant , you should look for a VAT & bookkeeping service shop which are usually located in shopping parade situated in outer parts of town ( not in town centre where rents are higher ).

      Comment


        #4
        Many thanks for your advice and for taking the time to reply. I am in a bit of a complicated tax issue, or I would have done this myself as have a business finance degree. I will look for a VAT accountant as you advice.

        Regards
        Summer

        Comment


          #5
          Originally posted by Mrs Mug View Post
          I found mine through their advert in the link below.

          https://www.landlordzone.co.uk/suppl...ounts-taxation
          Many thanks for this. Much appreciated.

          Regards
          Eda

          Comment

          Latest Activity

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          • Reply to Caught out by changes to Capital Gains Tax
            by jpkeates
            You have to make the return to tell HMRC there is no tax to pay, if that's the case.
            There is no option not to tell HMRC....
            09-12-2021, 09:58 AM
          • Caught out by changes to Capital Gains Tax
            by reluctantlandlord1976
            I appreciate 'ignorance' is no excuse, however there are some mitigating factors, i.e. due to illness etc.

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            06-12-2021, 13:51 PM
          • Reply to Caught out by changes to Capital Gains Tax
            by Gordon999
            I think Andrew is correct .

            You start with 1/3 interest ( in 1982 valued at £6500 ? ) plus 1/6 interest from parent1 ( valued at £20K ?) plus 1/2 interest from parent 2 ( valued at £60K ? ). This probably takes your total entry cost to around £40K.

            Your total capital...
            09-12-2021, 09:47 AM
          • Reply to Caught out by changes to Capital Gains Tax
            by reluctantlandlord1976
            Hi Andrew
            First of all I've got an initial appointment to speak to an accountant on Friday!

            Can I just check where you write ' ...at death 1/6th of the value of the whole would have been deemed to pass to you for CGT purposes as the survivors would share the whole'.

            Does...
            08-12-2021, 18:02 PM
          • Reply to Caught out by changes to Capital Gains Tax
            by jpkeates
            Even if probate wasn't mandatory, it would probably have been useful.
            08-12-2021, 13:44 PM
          • Reply to Caught out by changes to Capital Gains Tax
            by AndrewDod
            Yes this would be the case if it was jointly owned (not as tenants in common). The situation would be that at death 1/6th of the value of the whole would have been deemed to pass to you (for CGT purposes), as the survivors would share the whole.

            So for the 3 periods you would be taken...
            08-12-2021, 12:51 PM
          • Reply to Caught out by changes to Capital Gains Tax
            by reluctantlandlord1976
            jpkeates
            There was no estate as such, property jointly owned - they were both retired at time of purchase living on small pensions, hence I bought with them so they could stay in the home they'd been renting from council from early 1950s to March 1982 at time of purchase. And I paid for the initial...
            08-12-2021, 10:50 AM
          • Reply to Caught out by changes to Capital Gains Tax
            by jpkeates
            I don't know the historic thresholds, but it's bizarre that there's no probate for both of your parents, their estate has to be tiny for that to be possible nowadays.
            It's probably too late for HMRC to do anything about that, but that process sets the values for CGT calculations later on, so it's...
            08-12-2021, 10:28 AM
          • Reply to Caught out by changes to Capital Gains Tax
            by reluctantlandlord1976
            Morning Andrew
            Thanks for your response early this morning and clarifying I have to make three separate calculations [the split wasn't clear on the CGT calculator].
            I understand the query on the value but this is an ex council house on a council estate [I feel I have to defend it here as...
            08-12-2021, 08:45 AM
          • Reply to Caught out by changes to Capital Gains Tax
            by AndrewDod
            As gordon indicates you need to consider it in three entirely separate parts, each have their own gain and calculation --

            The part YOU owned before Death 1
            The part YOU owned between Death 1 and Death 2
            The part you owned after Death 2

            Based on the values you give...
            08-12-2021, 05:52 AM
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