Tax Questions

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Remortgage fees and tax by security2 Started by security2, 17-10-2017, 20:16 PM	1 response 84 views 0 likes	Last Post by jpkeates 18-10-2017, 09:26 AM
CGT on future sale of previous home by ienquiry Started by ienquiry, 12-10-2017, 09:08 AM	5 responses 141 views 0 likes	Last Post by theartfullodger 15-10-2017, 12:46 PM
Recommendation for a Property Tax Specialist by BRY77 Started by BRY77, 09-10-2017, 16:26 PM	1 response 104 views 0 likes	Last Post by Gordon999 11-10-2017, 14:00 PM
Can I claim CGT loss on failed property investment? by fizzykoi Started by fizzykoi, 09-10-2017, 14:14 PM	5 responses 159 views 0 likes	Last Post by Gordon999 10-10-2017, 05:43 AM
Tax return Expenses - Training courses by Alza Started by Alza, 27-09-2017, 16:49 PM	13 responses 437 views 0 likes	Last Post by tatemono 09-10-2017, 09:14 AM
Mortgage Interest as an expense being phased out by dotcotton999 Started by dotcotton999, 06-10-2017, 20:40 PM	3 responses 213 views 0 likes	Last Post by DPT57 07-10-2017, 15:07 PM
Could mortgage interest be offset in this case? by DPT57 Started by DPT57, 06-10-2017, 10:17 AM	4 responses 106 views 0 likes	Last Post by DPT57 06-10-2017, 14:44 PM
Carry over expenses for future tax years? by nick6161 Started by nick6161, 05-10-2017, 13:00 PM	4 responses 296 views 0 likes	Last Post by Gordon999 06-10-2017, 00:51 AM
Claiming for TV and Internet by DavidJohn7 Started by DavidJohn7, 30-09-2017, 15:55 PM	11 responses 1,477 views 0 likes	Last Post by tatemono 03-10-2017, 08:58 AM
Lodgers and income tax by paultheknight Started by paultheknight, 02-10-2017, 09:58 AM	5 responses 180 views 0 likes	Last Post by theartfullodger 02-10-2017, 15:15 PM

Any property tax experts you can recommend please?

by mpppen

Hello,
We have a small BTL portolio of five properties. Some are in our personal names and the latter ones in a property company we set up a few years' ago when the tax rules changed.

I'd really like to find someone who can advise us of the best way of either bringing the personal...
- Channel: Tax Questions
03-03-2022, 20:00 PM
Reply to Any property tax experts you can recommend please?

by Trevor62

Thank-you for the link.

Well my issue is Tax & Assets.

Firstly, I am in the process of building a house in my side garden, when complete I will own two properties.

Will I have to pay stamp duty for the new build?

Because I am an old dad and my...
- Channel: Tax Questions
19-05-2022, 19:44 PM
Capital Gains Tax dilemma

by Ollyn

Hello

I am considering whether to sell my house which has been let for some time and need to see how I can best deal with CGT.

I lived in the property from 1984 until 2006.

From 2006 it has been occupied by tenants, now vacant and being renovated.

...
- Channel: Tax Questions
18-05-2022, 18:17 PM
Reply to Capital Gains Tax dilemma

by Gordon999

You have owned the property for 38 years ( 1984 - 2022 ) and lived in the property for 22 Years ( 1984-2006 ) plus 16 years for letting..

The total capital gain over 38 years is apportioned between "residence period" ( exempt for cgt ) and "letting period" ( liable...
- Channel: Tax Questions
19-05-2022, 10:07 AM
Reply to Capital Gains Tax dilemma

by ash72

You should seek advice from an accountant, or a property tax for tailored advice to your specific circumstances, you may be entitled to some relief if the property at any time was your own principal residence.
- Channel: Tax Questions
18-05-2022, 21:14 PM
Reply to Capital Gains Tax dilemma

by theartfullodger

You declare (online) and pay CGT within 60 days of sale. Depending on the numbers I would expect you to pay CGT. What records do you have of applicable costs, etc?

What you pay will depend on what CGT rules when you sell - v unlikely to be better than today, possibly worse. Covid,...
- Channel: Tax Questions
18-05-2022, 18:29 PM
Reply to Tax Allowance on Rental Income.

by Gordon999

The property allowance is a tax exemption of up to £1,000 a year for individuals with income from land or property.

If you own a property jointly with others, you’re each eligible for the £1,000 allowance against your share of the gross rental income.

If your annual gross...
- Channel: Tax Questions
18-05-2022, 16:47 PM
Tax Allowance on Rental Income.

by banner257

Can anyone help please, if a rental property is owned by two people 50 50. Would each owner be allowed to claim tax relief of £1000 each, or will the allowance of £1000 be split 50 50.
Thanks
- Channel: Tax Questions
18-05-2022, 08:42 AM
Reply to Tax Allowance on Rental Income.

by jpkeates

It's £1,000 each.

Most landlords don't use this though, because it's rare for income from a rental property to be low enough to qualify,
- Channel: Tax Questions
18-05-2022, 09:59 AM
Consent to Let - do we still need to pay tax

by VIKKI99

Hi, For kids school - we need to let out our Own House and move to a rental property close to school.
The rental money I receive from my tenants is exactly same as rent I pay on my property where I am a tenant.
Question : Rental money I receive from Tenants - should it be considered as income...
- Channel: Tax Questions
18-05-2022, 01:07 AM

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