Tax treatment of income on refurbished/sub-let cottage
Collapse
X
-
I barely understand your question, save for the fact that you are not very clever. I suggest professional help.
-
Tax treatment of income on refurbished/sub-let cottage
Hi, First time landlord, basically bought cottage to renovate 3 years ago done it up and let out through agency 16 months ago now tax is due,
My question, what can i be expected to pay cgt net income on property of£2800. still waiting for self assessment forms from tax office and time going by,
are forms easy to fill out? Not very clever filling out forms,or would it cost much for f/a, TIA dahTags: None
Latest Activity
Collapse
-
by Tony-EdwardsElderly parents in early 80s, one in not so good health.
Lived in the same home (no mortgage etc) for 50+ years - now worth approx £180,000 - £200,000 and they have minimal savings.
Looking ahead, if one has to go into care (or council provided home care) I understand there...-
Channel: Tax Questions
11-08-2022, 11:12 AM -
-
Reply to Giving/Gifting House to Kidsby gnvqsosYou seem to know a great deal of events in the 70s,or are you relying on hearsay?...
-
Channel: Tax Questions
19-08-2022, 16:41 PM -
-
by LVAApologies if this has been covered in this website but I've looked and cannot find...
I bought my flat in 1997, rented it out in 2001 (ish), returned to live in it in March 2020. Its approx 27 years ownership and 7 ish years living in it.
My accountant tells me the CGT...-
Channel: Tax Questions
16-08-2022, 12:59 PM -
-
Reply to Capital Gains Taxby gnvqsosvery basic,indeed!
-
Channel: Tax Questions
19-08-2022, 16:37 PM -
-
Reply to Capital Gains Taxby AndrewDodInflation as a form of indirect taxation is basic economics, well described in about 15 million academic articles....
-
Channel: Tax Questions
19-08-2022, 09:18 AM -
-
Reply to Capital Gains Taxby gnvqsosAndrewDod,
Inflation can be corrosive but it is not a tax ,as the government do not receive a corresponding income. The government spend money derived from either tax receipts ,trading income or by borrowing through the sale of securities/bonds. Printed money is distributed by commercial...-
Channel: Tax Questions
18-08-2022, 18:59 PM -
-
Reply to Capital Gains Taxby Gordon999The capital gains is charged at 18% or 28 % rate, and this depends on your job income, which is taxed at 20% or 40% .
Assuming the capital gains tax rate is about 25% average , your total gain is probably around 4 x £50K = £200K ( or over. )
If you are married...-
Channel: Tax Questions
18-08-2022, 11:26 AM -
-
Reply to Overseasby jpkeatesI suspect that the accountant wasn't citing the regulations, he was explaining the reality....
-
Channel: Tax Questions
18-08-2022, 11:18 AM -
-
by jase222Hi,
I will be moving to Spain for between 6-9months and I will obviously be paying my taxes and I spoke to a Spainish tax accountant who said the authorities won’t be interested in anybody who stays for less than a year as long as you can prove you pay tax in your own country? I’ve never heard...-
Channel: Tax Questions
17-08-2022, 08:05 AM -
-
Reply to Giving/Gifting House to Kidsby Tony-EdwardsIt wasn't meant to question HMRC - it was a response to the rude and thoughtless comments made by some....
-
Channel: Tax Questions
18-08-2022, 09:51 AM -
Leave a comment: