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Started by Callan1, 12-10-2016, 18:53 PM
5 responses
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Last Post jpkeates  
Started by Happydave, 11-10-2016, 18:06 PM
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Last Post Mrs Mug
by Mrs Mug
 
Started by Big Rabbit, 08-10-2016, 11:48 AM
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Last Post jpkeates  
Started by londonrulz, 10-10-2016, 11:34 AM
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Last Post Big Rabbit  
Started by bhodgkiss, 29-09-2016, 05:37 AM
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Last Post jpkeates  
Started by Kentrental, 05-10-2016, 13:01 PM
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Last Post loanarranger  
Started by jackboy, 04-10-2016, 21:10 PM
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Last Post Muggsy
by Muggsy
 
Started by BADGER.BRAD, 02-10-2016, 08:44 AM
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Started by October 82, 02-10-2016, 12:18 PM
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Last Post Claymore  
Started by Tlight, 01-10-2016, 19:48 PM
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  • Can I Rent My Private BTLs to my own Ltd Company?
    by Crunchie
    I own 5 buy to let HMOs in my private name with mortgages and have to pay the higher rate of income tax. My properties are my only source of income.

    Can I set up a Ltd Company and rent my properties to it for a rental that is less than the higher rate tax band, say £45,000 total? The tenants...
    09-08-2020, 20:25 PM
  • Tax to Pay on Lease Extension
    by divadee
    Myself and partner own the freehold to the building we live in, this is in the form of a limited company. We were accidental freeholders as the previous freeholder wanted to sell and no one else living here wanted to buy it so we bought it to have some control over the service charges etc....
    ...
    07-08-2020, 09:48 AM
  • Reply to Tax to Pay on Lease Extension
    by divadee
    We paid 18,000 for the freehold and had legal costs of approx 2k for the purchase. This was 4 years ago though. Can we still offset purchase price over income 4 years later?...
    09-08-2020, 20:20 PM
  • Reply to First time self assessment calculation before submittnig?
    by Advice seeker
    Thanks JP, good to know.

    Does it make a difference I have never actually lived there?

    In a nutshell, was family home, to keep certain over sentimental family members happy, it wasn't touched for ten years, literally, until the council threatened a forced purchased. Even when...
    09-08-2020, 15:46 PM
  • First time self assessment calculation before submittnig?
    by Advice seeker
    Hi all

    This might be a simple one, or not.

    Can someone please advise if this seems correct?

    For 2019-2020 I have the following on the HMRC form:

    £9715 income
    £2558 total allowable expenses

    Profit £7517

    I believe mortgage...
    15-07-2020, 20:04 PM
  • Reply to CGT evidence
    by Gordon999
    Since you live in the house for 4 years plus you can claim 9 months after moving out as your main residence period = roughly 5 years .

    You will have to pay cgt for last 5 years whilst under rental . I suggest you pay for a "high valuation" for your property in Aug 2015...
    09-08-2020, 11:40 AM
  • CGT evidence
    by PaulRs1
    Hi All,

    I’m an accidental landlord and about to sell the house. Lived in it for 4 years and rented it out for 6 (with the intention of moving back, which never happened)

    im aware I need to pay CGT and can claim improvement costs, I basically bought a wreck and renovated it...
    08-08-2020, 13:25 PM
  • Reply to First time self assessment calculation before submittnig?
    by jpkeates
    You sound to have about £300,000 in gain, spread over 21 years, with 11 of them in a business.
    You can feed the values into any CGT calculator around, but the CGT is likely to be £40-44k.

    The longer it stays in the business, the lower the proportion of CGT will be (but the gain...
    09-08-2020, 09:46 AM
  • Reply to Self assessement questions
    by Logical.Lean
    It's 3750 each, if the house is jointly owned.

    I've just read the gov.uk guidance, and I'd misread it before.

    right I'll ignore it....
    09-08-2020, 08:14 AM
  • Self assessement questions
    by Logical.Lean
    I'm just doing my wife and my self assessment.

    We own a property together in the a 90/10 % split.

    The first question online is whether my income from property is greater than £1000.

    No.

    I've itemized all costs and interest etc on a spreadsheet...
    08-08-2020, 15:44 PM
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