Tax Questions

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Tax Relief on BTL Private Loan by buffalo747 Started by buffalo747, 18-02-2018, 13:00 PM	12 responses 186 views 0 likes	Last Post by buffalo747 23-02-2018, 15:48 PM
transferring part of ownership to wife for tax reasons by joshua Started by joshua, 16-02-2018, 08:48 AM	9 responses 278 views 0 likes	Last Post by Nigel Nicholson 20-02-2018, 21:16 PM
Stamp Duty query by HP mum Started by HP mum, 20-02-2018, 11:36 AM	4 responses 90 views 0 likes	Last Post by HP mum 20-02-2018, 20:51 PM
Complex (for me!) CGT question on 2 property ownership... by Raymondus Started by Raymondus, 19-02-2018, 13:42 PM	7 responses 123 views 0 likes	Last Post by jpkeates 20-02-2018, 17:15 PM
Has anyone read anything about the Labour Party's commitment to Land Tax? by Worried of Bermondsey Started by Worried of Bermondsey, 11-02-2018, 16:08 PM	16 responses 246 views 0 likes	Last Post by elbowe 20-02-2018, 11:11 AM
Should I Pay down btl mortgages now tax relief limited? by Evaland19 Started by Evaland19, 19-02-2018, 19:53 PM	3 responses 164 views 0 likes	Last Post by elbowe 20-02-2018, 11:08 AM
Property with student daughter and lodgers question by stunnie Started by stunnie, 17-02-2018, 17:29 PM	6 responses 196 views 0 likes	Last Post by stunnie 17-02-2018, 23:56 PM
Can you offset residential home remortgage interest used to fund BTL by The Good Daughter Started by The Good Daughter, 16-02-2018, 14:14 PM	1 response 104 views 0 likes	Last Post by Gordon999 17-02-2018, 07:05 AM
LTD and SPV dilemma by petrohead Started by petrohead, 11-02-2018, 12:00 PM	4 responses 325 views 0 likes	Last Post by Gordon999 14-02-2018, 00:13 AM
If I move back into my BTL can I PPR for the last 30 years?? by hughjarse Started by hughjarse, 13-02-2018, 12:32 PM	2 responses 179 views 0 likes	Last Post by AndrewDod 13-02-2018, 14:58 PM

Reply to Van

by AndrewDod

As said unless you have at least 100 properties there is no way the van will be an allowable business expense. Stick to the ~50p/mile allowance....
- Channel: Tax Questions
28-10-2021, 00:00 AM
Van

by jase222

Hi, I am looking to buy a van solely for my rental business,
I was looking at leasing a van and was wondering about the tax side and if I can claim the amount or is buying outright a better option.
I am not a Ltd company and do simplified accounts for mileage.
I would be grateful...
- Channel: Tax Questions
27-10-2021, 04:32 AM
Reply to Van

by royw

If you have another car they're more likely to accept the van as solely business use.
- Channel: Tax Questions
27-10-2021, 17:57 PM
Reply to Van

by jpkeates

The safest thing of all is to simply claim the mileage allowance.

To claim for a proper split in costs, you might be asked to show mileage records for all your business trips, which should match the proportion claimed.
You'd also have to log the operating costs if you're going to...
- Channel: Tax Questions
27-10-2021, 15:03 PM
Reply to Van

by jase222

What would do is 80% business 20% private, if say a van was 200per month could I claim 160 as a expense? Or something else
- Channel: Tax Questions
27-10-2021, 14:49 PM
Reply to How is a mortgage overpayment accounted for?

by Gordon999

The net profit of £400 = £4800 per year which is subject to corporation tax at 19%. = £912.

So reduction of mortgage loan for first year will be £3888...
- Channel: Tax Questions
27-10-2021, 09:21 AM
How is a mortgage overpayment accounted for?

by nick_noal

Hi all,

I own a buy to let property that is registered in a limited company and I would like to set up a regular overpayment each month to reduce the balance of the mortgage.

When it comes to submitting the annual accounts, how would this overpayment be accounted...
- Channel: Tax Questions
24-10-2021, 21:41 PM
Reply to Van

by jpkeates

Unless you have a huge portfolio or a very unusual business, HMRC isn't going to accept a vehicle as a legitimate business expense for a property investment business.

They may never notice if you do your own returns, and you can claim the mileage that's solely for the business.
- Channel: Tax Questions
27-10-2021, 08:21 AM
Reply to Van

by Section20z

Leasing every time - and allocate to the business.

"If it appreciates, buy it. If it depreciates, rent it"
- Channel: Tax Questions
27-10-2021, 08:02 AM
Reply to How is a mortgage overpayment accounted for?

by nick_noal

jpkeates,

Thanks for your help 👍
- Channel: Tax Questions
26-10-2021, 18:40 PM

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