Tax Questions

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Partner's tax-free allowance and National Insurance by bhodgkiss Started by bhodgkiss, 25-08-2018, 09:41 AM	6 responses 136 views 0 likes	Last Post by bhodgkiss 30-08-2018, 08:18 AM
Can I change rental income split now for 2017-18? by bhodgkiss Started by bhodgkiss, 27-08-2018, 15:45 PM	2 responses 110 views 0 likes	Last Post by bhodgkiss 27-08-2018, 18:46 PM
Confused with what I may owe HMRC through the 'Let Property Campaign' by Mavis808 Started by Mavis808, 26-08-2018, 15:56 PM	3 responses 872 views 0 likes	Last Post by Gordon999 27-08-2018, 12:21 PM
Move to ltd company by Helvie Started by Helvie, 06-08-2018, 09:41 AM	10 responses 248 views 0 likes	Last Post by Gordon999 24-08-2018, 16:58 PM
Subsistence costs - can my limited company pay for me? by JamesHopeful Started by JamesHopeful, 21-08-2018, 20:28 PM	2 responses 82 views 0 likes	Last Post by JamesHopeful 24-08-2018, 10:38 AM
Question regarding upgrades in flat for tax relief by Helvie Started by Helvie, 05-08-2018, 13:03 PM	7 responses 173 views 0 likes	Last Post by jpkeates 21-08-2018, 12:20 PM
Seeking a professional tax expert please by Landlord2015 Started by Landlord2015, 20-08-2018, 12:26 PM	0 responses 88 views 0 likes	Last Post by Landlord2015 20-08-2018, 12:26 PM
Let Property Campaign and past experience by JazzApples Started by JazzApples, 17-08-2018, 16:19 PM	12 responses 2,459 views 0 likes	Last Post by Gordon999 19-08-2018, 11:08 AM
Becoming self employed to become your tenant's gardener? by Juliaabc Started by Juliaabc, 14-08-2018, 16:03 PM	11 responses 267 views 0 likes	Last Post by jpkeates 18-08-2018, 08:16 AM
CGT Holiday rental by splodge2001 Started by splodge2001, 17-08-2018, 13:16 PM	1 response 61 views 0 likes	Last Post by Gordon999 17-08-2018, 19:11 PM

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
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
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 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
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
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 Any property tax experts you can recommend please?

by Trevor62

I like the Idea of knowing that my children will get my property oneday but would like to avoid as much interaction from these legal people as possible....
- Channel: Tax Questions
23-05-2022, 17:36 PM

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