Sdlt on gifted property

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  • Capital gains tax changes afoot?
    by Bobthebiker
    So it seem the chancellor has ordered a review of capital gains tax, payIng special attention to the reliefs and allowances To see if it’s fit for purpose, the Covid clawback starts here maybe.
    14-07-2020, 21:05 PM
  • Reply to CGT & Gifting
    by gnvqsos
    I think you can reduce liability for CGT by deducting the costs of renovations,and costs associated with purchase eg survey fees,conveyancing fees etc.It may be possible to deduct legal fees resulting from the gift made...
    14-07-2020, 16:35 PM
  • CGT & Gifting
    by Kape65
    If I were to gift unencumbered properties to my adult children what would be their baseline for calculating CGT? Would it be zero (the price they paid) or would it be the price I paid or would it be based on market value when gifted? Or none of the above?
    13-07-2020, 15:12 PM
  • Reply to CGT & Gifting
    by Kape65
    Thanks for the replies, all clear now.
    14-07-2020, 11:24 AM
  • Reply to CGT & Gifting
    by Gordon999
    The Donor has liability for cgt after making the gift. The capital gain is calculated by the market value at July 2020 less price paid.

    The Donee has liability for cgt after selling the gift . The capital gain is calculated from the sale proceeds less the market value at July 2020 .
    14-07-2020, 07:02 AM
  • Reply to CGT & Gifting
    by AndrewDod
    Don't forget you need to declare the gift and pay the relevant tax within 30 days. So you need to supply that information now....
    14-07-2020, 00:14 AM
  • Moving overseas - forms to submit to HMRC
    by JamesHopeful
    I'm about to move overseas for a couple of years.

    I know that I need to submit an NRL1 to allow my letting agent to continue to pay my rent to me gross. However, do I need to submit any other forms at this stage? (e.g. a form informing HMRC that I'm going overseas in the first place?)...
    05-07-2020, 15:43 PM
  • Reply to Moving overseas - forms to submit to HMRC
    by tatemono
    https://www.gov.uk/government/public...dividuals-nrl1 has a whole lot more which might be useful.

    Bear in mind that just because you get rent paid gross doesn't mean you won't eventually end up...
    13-07-2020, 20:57 PM
  • Reply to tax allowance for new tiles on roof
    by Mrs Mug
    2 years ago, we had a complete new roof, new facsias and soffits, and new guttering fitted for our own home. Never even thought about mentioning it to the insurance or mortgage provider. Why did you?...
    13-07-2020, 17:17 PM
  • tax allowance for new tiles on roof
    by alice123
    ok - I had a surveyor down recently who told me my BTL needs attention to guttering and new fasicas as they are in need of sorting out - had a roofer quote me but also told me the tiles needed replacing on roof as they are missing in areas and letting in water , i know this to be true as I looked at...
    07-07-2020, 23:19 PM
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