Sdlt on gifted property

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

Latest Activity

Collapse

  • Reply to tax allowance for new tiles on roof
    by Mrs Mug
    Surely the cost is a capital cost, as the property needed the work doing when it was bought....
    08-07-2020, 06:51 AM
  • 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
  • Reply to tax allowance for new tiles on roof
    by JK0
    I put down that sort of work wholly against income tax. You know it's not a good idea to replace slates with tiles, dont't you? (Will make the ceilings sag upstairs due to extra weight.)

    Not sure about building regs.
    08-07-2020, 06:48 AM
  • Stamp duty / Tennents in common
    by Jk2020
    Hi,

    I'm a first time buyer currently living with parents and looking for a buy to let, for example house worth 150K (in cash)

    I understand i dont need to pay stamp duty (first time buyer)

    I would then like to be tennants in common with my dad, and split it (Dad...
    07-07-2020, 09:42 AM
  • Reply to Stamp duty / Tennents in common
    by jpkeates
    1 - Yes, but it's a sale.
    2 - Yes, they'll pay SDLT at the market value (well 99%) with the surcharged VAT.

    I don't really see the point of the arrangement.

    At the end of the transactions, you've spent £150,000, gifted £148,500 of property to your father and could now...
    07-07-2020, 10:50 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 Gordon999
    I would submit your tax return for 2019-2020
    05-07-2020, 19:54 PM
  • Reply to Changes to Landlords tax relief and landlords tax credit
    by jpkeates
    When you complete your tax return, you no longer deduct the interest (and any other finance related costs, e.g. a setup fee) you have paid as an allowable expense.
    You calculate the tax you would pay without that deduction (i.e. income less other expenses at the appropriate rate(s))
    Then...
    04-07-2020, 12:40 PM
  • Changes to Landlords tax relief and landlords tax credit
    by cadence248
    Good afternoon all,

    I've been getting to grips with the changes to landlord's tax relief over the last few years. One thing that worries me considerably is that since all rental income is now taxed, and I must pay my loan interest and repayments out of this also, that really doesn't leave...
    02-07-2020, 15:11 PM
  • Reply to Changes to Landlords tax relief and landlords tax credit
    by Kape65
    The 20% credit is automatically applied, you would have been getting it for the last 3 years!
    04-07-2020, 10:19 AM
Working...
X