Too Much Money!

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    Too Much Money!

    Hello

    I've just been quoted £200 + VAT for a 'simple' declaration of trust'. I've read an example of a declaration on HMRC and it is very basic.

    Can anyone recommend a solicitor who is much cheaper? I've seen someone on here quoting figures of £30 to £40 - so grateful for any recommendations.

    Many thanks
    Claymore

    #2
    I'm down to 175 plus VAT - still seems a lot :-(

    Comment


      #3
      What about your won solicitor? Or is one of those above him/her?

      Comment


        #4
        The cheaper of the two is my regular solicitor. If worse comes to the worse, I will get it done by them.

        It's just a little frustrating when I saw someone post on the forum that they do them for £35 - do you think I can find that post!! :-(

        Comment

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        • Reply to Caught out by changes to Capital Gains Tax
          by reluctantlandlord1976
          Thank you Gordon, didn't see your response this afternoon. I will look at this with fresh eyes tomorrow as it's late now.
          I've put some figures in my reply to a post just now but answers below to your questions.

          a] £80k Jan 2021 sale price.
          b] As property purchased before...
          08-12-2021, 00:55 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.

          1. Previous family home rented out - terrible tenants - left owing rent, bad repairs etc. [usual story for some] subsequently property not let for 2 years for a number of reasons while...
          06-12-2021, 13:51 PM
        • Reply to Caught out by changes to Capital Gains Tax
          by reluctantlandlord1976
          Andrew, apologies only just seen your post [was it awaiting approval did you say?] answers are:

          Purchased March 1982 as joint tenancy - so equal split of 33 1/3% each party
          Parent 2 died September 2007 - as joint tenancy I inherited their share - so at this point I own 100% of property...
          08-12-2021, 00:41 AM
        • Reply to Caught out by changes to Capital Gains Tax
          by reluctantlandlord1976
          JP Keates
          I wasn't aware that refurbishment deductions only applied in terms of letting out the property. On the CGT calculator it asked 'How much have you spent on improvements since you became the property owner'.....

          Here's the timeline:

          March 1982 - 1992 3 Owners,...
          07-12-2021, 18:01 PM
        • Reply to Caught out by changes to Capital Gains Tax
          by reluctantlandlord1976
          JP Keates et al - thank you very much for your assistance. I have this afternoon emailed an accountant to try and get an appointment urgently. I hadn't realised it was all so complicated and it was remiss of me to not be aware of the CGT changes made in 2020 due to not renting out the property. Thanks...
          07-12-2021, 17:28 PM
        • Reply to Caught out by changes to Capital Gains Tax
          by jpkeates
          Refurbishment while you were living there is only allowable against CGT if it was solely and exclusively for the business, so if it was to prepare the property to be let, it would be OK.
          If it was simply to improve what was then your home, it fails the basic test.

          Get yourself to...
          07-12-2021, 16:22 PM
        • Reply to Caught out by changes to Capital Gains Tax
          by AndrewDod
          The probate resets a lot of the stuff, but my main response was unapproved
          07-12-2021, 15:36 PM
        • Reply to Caught out by changes to Capital Gains Tax
          by AndrewDod
          You are really short on detail:

          Date (year & month) bought in joint names ______ (what % was yours then)
          Date it converted to your sole name ______ (presumable date of death of parent 2?)
          Declared vale at probate _________
          Capital expenses between date of probate 2...
          07-12-2021, 15:33 PM
        • Reply to Caught out by changes to Capital Gains Tax
          by reluctantlandlord1976
          We were all joint owners. Bought it with parents. I lived there for 10 years before buying own home. I became sole owner upon their deaths. Rented out since 2007-2019. Empty last two year as trying to sell. Hence I was off the landlord radar. I am now extremely worried by your statement that refurbishment...
          07-12-2021, 14:53 PM
        • Reply to Caught out by changes to Capital Gains Tax
          by AndrewDod
          Let us know the exact timescale and money involved year by year - I am sure some kind person (or even myself) with do a calculation for you so that you can assess the risks involved
          07-12-2021, 14:33 PM
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