Tax Questions

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Tax expense office at home by wealdman Started by wealdman, 08-01-2019, 11:18 AM	3 responses 119 views 0 likes	Last Post by jpkeates 08-01-2019, 14:08 PM
Do I need to fill out self assessment? (profit less than £2500) by bowsden Started by bowsden, 06-01-2019, 17:15 PM	12 responses 419 views 0 likes	Last Post by bowsden 07-01-2019, 19:25 PM
Cost Vs Benefit of Tax Advice by Niscars Started by Niscars, 04-01-2019, 08:54 AM	6 responses 129 views 0 likes	Last Post by jpkeates 07-01-2019, 13:11 PM
income tax relief by grampsy Started by grampsy, 07-01-2019, 10:36 AM	1 response 58 views 0 likes	Last Post by jpkeates 07-01-2019, 11:09 AM
Where is my £1900? by JK0 Started by JK0, 06-01-2019, 22:36 PM	1 response 113 views 0 likes	Last Post by JK0 07-01-2019, 09:32 AM
When to register for self assessment? (started renting out in Jan 2018) by bowsden Started by bowsden, 06-01-2019, 17:19 PM	1 response 54 views 0 likes	Last Post by leaseholder64 06-01-2019, 18:17 PM
Payments on Account - Help please by dora999 Started by dora999, 04-01-2019, 18:58 PM	5 responses 129 views 0 likes	Last Post by dora999 05-01-2019, 10:01 AM
Birmingham accountant recommendation by Jim201 Started by Jim201, 03-01-2019, 07:14 AM	1 response 49 views 0 likes	Last Post by Gordon999 04-01-2019, 14:15 PM
How to split rental income with partner for tax benefits? by lbrent Started by lbrent, 22-12-2018, 22:01 PM	8 responses 338 views 0 likes	Last Post by lbrent 01-01-2019, 16:13 PM
Expenses on new/replacement items by jared5 Started by jared5, 31-12-2018, 11:35 AM	1 response 96 views 0 likes	Last Post by jpkeates 31-12-2018, 12:04 PM

SDLT relief for multiple dwellings

by BIGGYBIBIG

Hello everyone,
I have had an offer accepted on a property purchase, subject to a surveyors report of £395,000 in England.

I am currently looking at surveyors but i just wanted to know where i stand in terms of stamp duty, costs etc.

I have phoned 5 different solicitors...
- Channel: Tax Questions
10-08-2022, 19:20 PM
Reply to SDLT relief for multiple dwellings

by BIGGYBIBIG

Yes gotta be so careful and best to get an expert as upto now i have been quoted by a few different experts much cheaper rate of £9,250 which is a saving of over £12,000 thanks...
- Channel: Tax Questions
16-08-2022, 15:33 PM
Allowable expenses against tax when tenant moves out and property goes up for sale

by jimmytwoburgers

Hi All,

My tenant moves out in 2 weeks. He has left the place in a bit of a state - moth infestation in carpets, garden overgrown, floor damaged etc. I am intending on getting these sorted before putting the house on the market for sale. So will need new carpets, moth treatment from pest...
- Channel: Tax Questions
16-08-2022, 08:09 AM
Reply to Allowable expenses against tax when tenant moves out and property goes up for sale

by theartfullodger

You have every right to claim from deposit scheme & / or courts for damage tenant caused: (You may or may not succeed).

I'd take advice from various agents on what to do. Sold 2 houses, ex-rental past 3 years plus another one now-ish. In all cases agent said other than tidy up/clean...
- Channel: Tax Questions
16-08-2022, 12:01 PM
Reply to Allowable expenses against tax when tenant moves out and property goes up for sale

by jpucng62

As jpkeates says, until it is sold it is still a rental so you can set everything you spend against your tex - including utilities, C Tax insurance etc.

I think you will benefit from spending a little to get it right - many buyers want to be able to move straight in so I would definitely...
- Channel: Tax Questions
16-08-2022, 11:34 AM
Reply to Allowable expenses against tax when tenant moves out and property goes up for sale

by Neelix

I think you should get prices from estate agents for before and after to check it’s worth while you doing that things
- Channel: Tax Questions
16-08-2022, 08:34 AM
Reply to Allowable expenses against tax when tenant moves out and property goes up for sale

by jpkeates

The "guidance" you have seen is wrong (unless you move back into the property).
Until it is sold, it is part of the business and expenses are allowed.
- Channel: Tax Questions
16-08-2022, 08:30 AM
Higher rate LTT or not?

by AddictedMonster

Hi my partner and I are looking to sell one of our rentals and our residential property and buy a larger property.

I'm confused whether we will be charged the higher rate land transaction tax due to owning a third property that we own that will not be sold as of yet. It was our previous...
- Channel: Tax Questions
13-08-2022, 11:26 AM
Reply to Higher rate LTT or not?

by DoricPixie

This manual is for SDLT which is only applicable in England and Northern Ireland. LTT in Wales broadly follows the same rules for those replacing their main residence though.

https://gov.wales/higher-rates-land-...#section-26736...
- Channel: Tax Questions
16-08-2022, 01:56 AM
Expense Categories

by philrosenberg

I'm just in the process of buying my first property as a Ltd company and I have gotten FreeAgent accounting software free with my bank account.

I have a list of categories to assign to my expenses, but they aren't all that relevant to residential property businesses. I wondered if others...
- Channel: Tax Questions
13-08-2022, 10:53 AM

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