Tax Questions

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Rental Property as part of an Estate by GillianF Started by GillianF, 21-08-2021, 12:40 PM	3 responses 53 views 0 likes	Last Post by Neelix 21-08-2021, 18:47 PM
Setting up a business but unsure why owner of property would be taxed and not me by KILOCHARLIE Started by KILOCHARLIE, 20-08-2021, 13:07 PM	6 responses 79 views 0 likes	Last Post by jpkeates 21-08-2021, 13:45 PM
Claiming tax exemption for abortive purchase by zrux Started by zrux, 20-08-2021, 09:04 AM	5 responses 62 views 0 likes	Last Post by Gordon999 21-08-2021, 10:01 AM
Please make me happy about the prospect of quarterly reporting. by Mandryka Started by Mandryka, 13-08-2021, 17:42 PM	12 responses 203 views 1 like	Last Post by landlord-man 20-08-2021, 11:40 AM
Before you decide to set up a limited company. by Gordon999 Started by Gordon999, 19-08-2021, 17:54 PM	1 response 80 views 0 likes	Last Post by ram 20-08-2021, 11:22 AM
Post Office redirection fees by Snicky Started by Snicky, 19-08-2021, 08:23 AM	3 responses 55 views 0 likes	Last Post by Gordon999 19-08-2021, 13:00 PM
CGT for non residents by Section20z Started by Section20z, 17-08-2021, 12:08 PM	0 responses 26 views 1 like	Last Post by Section20z 17-08-2021, 12:08 PM
Calculating Dividend for the year by nick_noal Started by nick_noal, 14-08-2021, 06:09 AM	11 responses 71 views 0 likes	Last Post by jpkeates 14-08-2021, 13:52 PM
Allowable expenses for garden work by Carpet2011 Started by Carpet2011, 12-08-2021, 17:20 PM	12 responses 162 views 0 likes	Last Post by Gordon999 14-08-2021, 10:22 AM
Stamp duty multiple dwellings relief by Anna1985 Started by Anna1985, 13-08-2021, 17:47 PM	1 response 31 views 0 likes	Last Post by Gordon999 13-08-2021, 18:45 PM

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
Reply to Capital Gains Tax - Quick Question

by theartfullodger

Has she made any capital gains during 2020/2021?? e.g. share sales etc etc etc...
- Channel: Tax Questions
17-01-2022, 21:19 PM

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