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Started by Claymore, 18-01-2020, 12:17 PM
3 responses
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Last Post AndrewDod  
Started by beccajohnson, 18-01-2020, 13:55 PM
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Last Post Gordon999  
Started by endlessfees, 17-01-2020, 14:14 PM
2 responses
65 views
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Last Post endlessfees  
Started by MickyV, 17-01-2020, 08:10 AM
3 responses
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Last Post jpkeates  
Started by LdnLandlord, 12-01-2020, 16:51 PM
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Last Post MickyV
by MickyV
 
Started by npjacques, 10-01-2020, 13:01 PM
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Last Post Gordon999  
Started by Zaffiro, 15-01-2020, 12:44 PM
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Last Post Gordon999  
Started by deb_hyp, 13-01-2020, 16:04 PM
4 responses
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Last Post MdeB
by MdeB
 
Started by tunstallhill, 14-01-2020, 15:34 PM
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Last Post jpkeates  
Started by bethkw, 12-01-2020, 14:46 PM
5 responses
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Last Post Gordon999  
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  • Stamp duty / Tennents in common
    by Jk2020
    Hi,

    I'm a first time buyer currently living with parents and looking for a buy to let, for example house worth 150K (in cash)

    I understand i dont need to pay stamp duty (first time buyer)

    I would then like to be tennants in common with my dad, and split it (Dad...
    07-07-2020, 09:42 AM
  • Reply to Stamp duty / Tennents in common
    by jpkeates
    1 - Yes, but it's a sale.
    2 - Yes, they'll pay SDLT at the market value (well 99%) with the surcharged VAT.

    I don't really see the point of the arrangement.

    At the end of the transactions, you've spent £150,000, gifted £148,500 of property to your father and could now...
    07-07-2020, 10:50 AM
  • Reply to Moving overseas - forms to submit to HMRC
    by Gordon999
    I would submit your tax return for 2019-2020
    05-07-2020, 19:54 PM
  • Moving overseas - forms to submit to HMRC
    by JamesHopeful
    I'm about to move overseas for a couple of years.

    I know that I need to submit an NRL1 to allow my letting agent to continue to pay my rent to me gross. However, do I need to submit any other forms at this stage? (e.g. a form informing HMRC that I'm going overseas in the first place?)...
    05-07-2020, 15:43 PM
  • Reply to Changes to Landlords tax relief and landlords tax credit
    by jpkeates
    When you complete your tax return, you no longer deduct the interest (and any other finance related costs, e.g. a setup fee) you have paid as an allowable expense.
    You calculate the tax you would pay without that deduction (i.e. income less other expenses at the appropriate rate(s))
    Then...
    04-07-2020, 12:40 PM
  • Changes to Landlords tax relief and landlords tax credit
    by cadence248
    Good afternoon all,

    I've been getting to grips with the changes to landlord's tax relief over the last few years. One thing that worries me considerably is that since all rental income is now taxed, and I must pay my loan interest and repayments out of this also, that really doesn't leave...
    02-07-2020, 15:11 PM
  • Reply to Changes to Landlords tax relief and landlords tax credit
    by Kape65
    The 20% credit is automatically applied, you would have been getting it for the last 3 years!
    04-07-2020, 10:19 AM
  • Reply to Changes to Landlords tax relief and landlords tax credit
    by jpkeates
    The only people negatively affected by the change in how the interest can be claimed are higher rate tax payers and standard rate tax payers who were close to the higher rate threshold.

    For most landlords, the change is simply in how the tax is calculated, the outcome is the same.
    04-07-2020, 08:58 AM
  • Reply to Can we claim back the VAT?
    by Gordon999
    Your lease should require the leaseholders to pay annual service charge contribution to the management company.

    To keep the non-profit making Management Company dormant which is easier for filing annual returns to Companies House, the service charge money collected from the leaseholders...
    04-07-2020, 08:18 AM
  • Can we claim back the VAT?
    by 529 Charlie
    We are 3 Leaseholders each with a share of the freehold of our shared building. Purchase of our flats meant we also became Directors of a dormant Management Company. We need urgent maintenance/Major Works doing and wondered how and if we can claim back the VAT charged by the builder(s).

    ...
    03-07-2020, 18:13 PM
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