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Started by greengirl1, 12-07-2015, 18:50 PM
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Started by cm00, 29-07-2015, 19:58 PM
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Started by cm00, 29-07-2015, 17:24 PM
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by cm00
 
Started by Hippogriff, 16-05-2015, 13:41 PM
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Started by autolychus, 03-07-2015, 13:12 PM
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Started by meehr, 28-07-2015, 08:15 AM
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Started by Sheeny, 26-07-2015, 11:35 AM
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Started by greengirl1, 24-07-2015, 17:59 PM
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Started by Banner78, 27-07-2015, 10:08 AM
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Started by madlizzie, 25-07-2015, 18:29 PM
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  • mortgage cashback buy to let tax implications
    Gooders
    If you receive cashback when taking out a buy to let mortgage do you have to declare this as income and will it incur tax?
    14-11-2018, 15:49 PM
  • Reply to mortgage cashback buy to let tax implications
    Gooders
    Great so no need to declare it on my tax return?
    14-11-2018, 16:33 PM
  • Reply to mortgage cashback buy to let tax implications
    loanarranger
    Most lenders who offer a modest cash back do so to enable the borrower to use , if they wish, as a payment towards the basic legal costs instead of offering Free Basic Legal Fees or towards the cost of a valuation, so no it doesn’t have to be declared to HMRC as income , and remember such freebies...
    14-11-2018, 16:29 PM
  • Don't think so, but not sure if entitled to PRR or lettings relief?
    gmhmo
    Hello,

    I purchased a property in 2009 for £115k (and spent around £20k on improvements) and I’m thinking about selling it early 2019 for £300k.
    I’d expected an approx. £40k CGT bill, but now I’m not so sure and could really do with some high level pointers or peace of mind either way....
    11-11-2018, 18:01 PM
  • Reply to Don't think so, but not sure if entitled to PRR or lettings relief?
    jpkeates
    Don't ever ask HMRC for tax advice.

    A) they're not qualified to give it, b) you may have to give them information to get advice that they can use against you, c) it may cause them to mark your returns for attention and d) they're hardly unbiased.

    Tax is part science and part...
    13-11-2018, 08:43 AM
  • Reply to Don't think so, but not sure if entitled to PRR or lettings relief?
    gmhmo
    Thank you very much. I'll speak to an accountant. I also found a HMRC CGT helpline....
    13-11-2018, 08:35 AM
  • PRR & Letting Relief
    multipropertyguy
    Trying to do some calculations before I think about putting a house on the market, first time I've sold a property. It's only in my name and it was my main residence before letting it out and buying another place.

    Purchase Price £175,000
    Market Value £415,000 (est)

    ...
    12-11-2018, 12:03 PM
  • Reply to PRR & Letting Relief
    Gordon999
    In Post 2, The total period owned = 180 months .

    Exemption claimed for PPR = 36 months + 18 month after moving out = 54 months

    Period under letting = 180 -54 = 126 months .

    So the capital gain during letting period = £ 240k x 126/180 = £168K.

    ...
    12-11-2018, 17:28 PM
  • Reply to PRR & Letting Relief
    GillianF
    Hi, I've tried to follow the calculations above to apply it to my situation but get lost at the CG part - "126 /180", not knowing where these figures come from. I can follow it up to that point.

    However, I will post my figures. I likewise am trying to figure the implications...
    12-11-2018, 16:59 PM
  • queries about self assessment
    djlandlord
    Hi All

    My wife has a property which we re-mortgaged on a buy-to-let mortgage to buy our home. This will be our first year doing the self-assessment, whilst I am certain on some things I have a few questions about others which I hope you all can assist with:
    1. Can we claim the mortgage product
    ...
    09-11-2018, 15:28 PM
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