Tax Questions

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Stamp duty rates for Limited Company by klinka01 Started by klinka01, 21-08-2017, 11:08 AM	3 responses 178 views 0 likes	Last Post by Gordon999 03-09-2017, 10:26 AM
Stamp duty surcharge for first time company purchase by nick_noal Started by nick_noal, 29-08-2017, 20:05 PM	2 responses 115 views 0 likes	Last Post by Gordon999 30-08-2017, 15:11 PM
Capital Gains Tax - incorrect property value on title doc by JCANNON Started by JCANNON, 26-08-2017, 10:00 AM	7 responses 246 views 0 likes	Last Post by JCANNON 29-08-2017, 10:40 AM
Capital Gains tax deductables by John Youngs Started by John Youngs, 27-08-2017, 14:05 PM	2 responses 192 views 0 likes	Last Post by Quadasia 28-08-2017, 10:38 AM
Moving to rented accommodation - Capital Gains Tax query by brianhurd Started by brianhurd, 25-08-2017, 11:28 AM	3 responses 102 views 0 likes	Last Post by brianhurd 25-08-2017, 17:23 PM
Can I offset the costs of refurbishment against income tax by embrams Started by embrams, 24-08-2017, 13:46 PM	1 response 175 views 0 likes	Last Post by JK0 24-08-2017, 14:03 PM
A question about Stamp Duty on a new home when moving from abroad by Galina Started by Galina, 23-08-2017, 12:04 PM	5 responses 91 views 0 likes	Last Post by Galina 24-08-2017, 09:24 AM
Tax deduction on account and maintenance works by max_co71 Started by max_co71, 21-08-2017, 23:59 PM	3 responses 122 views 0 likes	Last Post by jpkeates 22-08-2017, 10:26 AM
Capital Gains Tax Query by glyall Started by glyall, 21-08-2017, 10:28 AM	1 response 115 views 0 likes	Last Post by Gordon999 21-08-2017, 17:31 PM
Clarification on ATED by klinka01 Started by klinka01, 21-08-2017, 11:38 AM	2 responses 109 views 0 likes	Last Post by Gordon999 21-08-2017, 17:03 PM

Reply to Tax situation on money I paid for deposit

by Thurrock1

Thank you for your replies. It's hard to get yr head around!! but i think ive got it.

I am hoping to take some of this deposit back now as monthly repayments (as the flat was bought in 2008 and i need some of the money now). So I think I am ok doing this, so long as, on the sale of the...
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18-04-2021, 11:49 AM
Tax situation on money I paid for deposit

by Thurrock1

Hi, I bought a BTL flat in 2008 and wanted to recoup the deposit I paid on this (approx £25000). It is in joint names but the deposit was paid by me only. I wanted to take back that money and wondered how to list this in the SA tax return. If anyone can advise me i would be really grateful. Th...
- Channel: Tax Questions
18-04-2021, 08:26 AM
Reply to Tax situation on money I paid for deposit

by Gordon999

The SA Tax return is for reporting rental income and rental expenses. The £25K deposit is not reported in the SATR .

The £25K deposit is treated like a second mortgage loan at Nil interest . So if the property costs £100K , the 1st mortgage lender provides £75K loan and you provide...
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18-04-2021, 11:01 AM
Reply to Tax situation on money I paid for deposit

by jpkeates

How is the money being "taken back"?
- Channel: Tax Questions
18-04-2021, 09:21 AM
Reply to MTD and an End to Accidental Landlords ?

by jase222

I know many who use pen and paper, there should be a way for those who do to summit it 4 x a year by paper? My parents are in there 70s and trying to get them set u will a nightmare...
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18-04-2021, 05:56 AM
MTD and an End to Accidental Landlords ?

by landlord-man

Now that we know every LL will be captured by the new MTD Reporting Rules from April 2023 (at the latest) - do you think LLs with just one property will abandon the PRS in large numbers?

I'm unsure whether Letting Agents will be competent enough to take on this responsibility - and I cannot...
- Channel: Tax Questions
17-04-2021, 09:17 AM
Reply to MTD and an End to Accidental Landlords ?

by Gordon999

The simple way : You take last year's - 12 months rental income , expenses and profit and divide by 4 and submit the 25% figures each quarterly return and submit the real 12 months figures in the 4th Quarter Tax Return.
- Channel: Tax Questions
18-04-2021, 03:20 AM
Limited Company and BBL

by Cameron9988
Could do with some advice.
So I have a Ltd company with a semi commercial proeprty in it as follows :
- Value £155k
- No mortgage
- Bank Natwest
- Have a £50 Bounce Back Loan ( BBL ) in the business account un-used
- The BBL was loaned to the Ltd
I now want to transfer another semi commercial...
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17-04-2021, 08:33 AM
Reply to Limited Company and BBL

by Gordon999

I would expect your own tax bill at 10% rate on £4600 taxable capital gain after disposal of commercial property held under personal name, may be around £460 .
- Channel: Tax Questions
18-04-2021, 03:09 AM
Reply to MTD and an End to Accidental Landlords ?

by davidmartin_uk

Its landlords with a turnover of more than £10,000 a year. So any property rented for £830 a month. Basically nearly all landlords!!. Starts April 2023. Just got to do 4 times a year instead just one time in jan. once you get a system going it should not be too bad....
- Channel: Tax Questions
17-04-2021, 21:35 PM

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