Tax Questions

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LDC for Self Contained Basement Flat - Will Council Seek backdated extra council Tax? by johnoscannell Started by johnoscannell, 22-11-2017, 20:46 PM	3 responses 241 views 0 likes	Last Post by ss002d6252 23-11-2017, 13:17 PM
Tax relief Agents Fees by Humack Started by Humack, 22-11-2017, 20:02 PM	3 responses 125 views 0 likes	Last Post by Humack 23-11-2017, 08:27 AM
Letting at below market value by scampicat Started by scampicat, 20-11-2017, 14:13 PM	11 responses 709 views 0 likes	Last Post by Gordon999 22-11-2017, 16:27 PM
Advantages of being a joint landlord? by NathanJ Started by NathanJ, 22-11-2017, 11:02 AM	5 responses 217 views 0 likes	Last Post by Gordon999 22-11-2017, 13:51 PM
Tax on sale of Lease extension by KevinW Started by KevinW, 21-11-2017, 14:44 PM	3 responses 757 views 0 likes	Last Post by Gordon999 22-11-2017, 13:37 PM
Higher rate sdlt? can't agree with solicitor by Wobble1 Started by Wobble1, 15-11-2017, 13:39 PM	6 responses 164 views 0 likes	Last Post by Chalfont 21-11-2017, 16:57 PM
Tax return advice needed by Cuff4 Started by Cuff4, 15-11-2017, 15:59 PM	12 responses 284 views 0 likes	Last Post by jpkeates 20-11-2017, 14:15 PM
Repair and renovation by Alun1976 Started by Alun1976, 16-11-2017, 19:33 PM	4 responses 134 views 0 likes	Last Post by jpkeates 19-11-2017, 14:14 PM
CGT records by Bramleyapple Started by Bramleyapple, 18-11-2017, 13:18 PM	2 responses 101 views 0 likes	Last Post by Bramleyapple 18-11-2017, 14:45 PM
CGT When Lease Extended by clarrieblue Started by clarrieblue, 15-11-2017, 16:48 PM	9 responses 2,553 views 0 likes	Last Post by Gordon999 18-11-2017, 05:11 AM

Reply to Capital Gains Tax - Quick Question

by VPatel2707

thank you - does she still need to complete the CGT section on the Self assessment given that she made a loss?...
- Channel: Tax Questions
18-01-2022, 18:17 PM
Reply to Capital Gains Tax - Quick Question

by JamesHopeful

Slightly aside from the question you asked, was the £70k sale price the full market value of the property, or did she sell at undervalue (e.g. to a family member)? If the latter then bear in mind that CGT is payable against the full market value, not the sale price. (I do appreciate that in parts of...
- Channel: Tax Questions
18-01-2022, 16:17 PM
Reply to HMRC - Current list of deliberate tax defaulters

by Goobs27

I never knew a list like this was in the public domain but I did chuckle when I saw The Tax Repayment Agency on there owing £44k!

I wonder if there is a similar list of the covid loan defaulters?
- Channel: Tax Questions
18-01-2022, 10:10 AM
Reply to HMRC - Current list of deliberate tax defaulters

by JK0

A government list of tax offenders? Sounds like something you'd expect to see in the newspapers in the Soviet Union. However, in view of the actions of the last two years, nothing this lot do would surprise me.
- Channel: Tax Questions
18-01-2022, 09:47 AM
Reply to Capital Gains Tax - Quick Question

by boletus

Carry forward the loss to offset against future capital gains. Include transaction costs.
- Channel: Tax Questions
18-01-2022, 09:33 AM
Reply to Likelihood of paying capital gains tax?

by DoricPixie

No, the gain is the total gain for the whole time you have owned the property no just since 2018....
- Channel: Tax Questions
18-01-2022, 09:32 AM
Reply to Capital Gains Tax - Quick Question

by VPatel2707

Thank you for your reply - no, none at all....
- Channel: Tax Questions
18-01-2022, 08:54 AM
Reply to Likelihood of paying capital gains tax?

by jtufty

Ah ok, so if CGT is only applicable from 2018 onwards, plus the 9 months, plus my CGT allowance of £12,300, its unlikely Ill have any CGT to pay. (As it currently stands,but may change next year)
Thanks...
- Channel: Tax Questions
18-01-2022, 07:08 AM
Reply to Likelihood of paying capital gains tax?

by DoricPixie

GCT is based on the total gain over the whole time you’ve owned the property. Under the current rules you’d get relief for the time it was your only or main residence plus the final 9 months of ownership. You also get an annual CGT allowance but as Artful says, who knows what the rules will be next...
- Channel: Tax Questions
17-01-2022, 21:53 PM
Capital Gains Tax - Quick Question

by VPatel2707

Hi All,

Wonder if someone can advise/guide me, please.

I am helping my Mum with her tax return. In November 2020, she sold one of her rental properties at £70,000.00. She purchased the Property for £73,000.00 in July 2006 and therefore made a loss.

Does she...
- Channel: Tax Questions
17-01-2022, 18:01 PM

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