Tax Questions

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Claiming expenses by alice123 Started by alice123, 10-10-2018, 23:41 PM	7 responses 199 views 0 likes	Last Post by leaseholder64 13-10-2018, 06:51 AM
Day Job Travel Expenses by fixerupper Started by fixerupper, 09-10-2018, 13:45 PM	3 responses 95 views 0 likes	Last Post by Gordon999 09-10-2018, 23:01 PM
SATR: How to carry forward a loss through an 'empty' tax year? by BMS Started by BMS, 07-10-2018, 08:42 AM	4 responses 170 views 0 likes	Last Post by jpkeates 09-10-2018, 11:04 AM
Buy to Let Tax Guide by loanarranger Started by loanarranger, 08-10-2018, 13:12 PM	0 responses 123 views 0 likes	Last Post by loanarranger 08-10-2018, 13:12 PM
Do I have to file a tax return? by EveD Started by EveD, 07-10-2018, 22:16 PM	2 responses 109 views 0 likes	Last Post by Gordon999 08-10-2018, 06:00 AM
BTLs and being 'employed' to be eligible for 30 hours childcare by bhodgkiss Started by bhodgkiss, 28-08-2018, 22:05 PM	9 responses 2,058 views 0 likes	Last Post by alice123 06-10-2018, 16:47 PM
Tax querie by Elizabeth Mac Started by Elizabeth Mac, 03-10-2018, 09:14 AM	7 responses 121 views 0 likes	Last Post by theartfullodger 04-10-2018, 10:14 AM
Tax Return - Cash Basis or Traditional accounting by Smith84 Started by Smith84, 02-10-2018, 12:59 PM	5 responses 1,618 views 0 likes	Last Post by Gordon999 02-10-2018, 16:23 PM
Reporting pre-trade expenses/losses in different tax year before profits? by happyfeet Started by happyfeet, 02-10-2018, 08:43 AM	2 responses 75 views 0 likes	Last Post by happyfeet 02-10-2018, 12:54 PM
Self Assessment Advice by Andy_L Started by Andy_L, 01-10-2018, 16:08 PM	1 response 98 views 0 likes	Last Post by Gordon999 02-10-2018, 07:06 AM

Reply to Is it an allowable expense or capital expense

by AndrewDod

Can't see any reason this would be an insured event. Agree it is not a capital expense at all....
- Channel: Tax Questions
25-05-2022, 09:25 AM
Is it an allowable expense or capital expense

by shipboard

I rent out a single property, during the winter storms the brickwork was damaged and the cheapest option to repair it was to render the Gable end and rear of the property. I tried to claim on the insurance but they maintained it was due to wear and tear, I am of course disputing this. My question is...
- Channel: Tax Questions
24-05-2022, 10:04 AM
Reply to Is it an allowable expense or capital expense

by Another Fine Mess

If you dont mind me suggesting, If your Insurance Company is rejecting your claim you could get in touch with a Chartered Loss Assessor who would argue with the Insurance Company Loss Adjuster, its worth a phone call to one.
- Channel: Tax Questions
24-05-2022, 16:30 PM
Reply to Is it an allowable expense or capital expense

by gnvqsos

I think the insurance company were right-the render must have been distressed to suffer storm damage. You can offset cost against income.
- Channel: Tax Questions
24-05-2022, 14:36 PM
Reply to CGT query

by Gordon999

Hmrc rules allow transfers between spouses without cgt. The recipient spouse takes on the asset at the original purchase price.
- Channel: Tax Questions
24-05-2022, 11:16 AM
Reply to Is it an allowable expense or capital expense

by Gordon999

I agree with jpk : it is a maintenance expense which is claimed against rental income....
- Channel: Tax Questions
24-05-2022, 11:12 AM
Reply to Is it an allowable expense or capital expense

by jpkeates

I'd say that's a maintenance cost and would be allowed against income.
It would affect the value of the property, but only to restore it to the level that it was at prior to the damage (plus the general positive effect of any large maintenance work).
- Channel: Tax Questions
24-05-2022, 10:53 AM
CGT query

by vik238754

Hello. Since 2013 my wife and I own a property as tenants in common where the beneficial interest split is 90% her and 10% me. We are now looking to sell the property. I have a large CGT loss and using the HMRC CGT calculator I have calculated that if I change the split to 70% me and 30% my wife...
- Channel: Tax Questions
23-05-2022, 19:37 PM
Reply to CGT query

by jpkeates

What you are planning to do is routine and HMRC will accept the change as a matter of routine admin.
- Channel: Tax Questions
24-05-2022, 09:13 AM
Any property tax experts you can recommend please?

by mpppen

Hello,
We have a small BTL portolio of five properties. Some are in our personal names and the latter ones in a property company we set up a few years' ago when the tax rules changed.

I'd really like to find someone who can advise us of the best way of either bringing the personal...
- Channel: Tax Questions
03-03-2022, 20:00 PM

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