Tax Questions

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Advice for DoT 100/0 or 99/1 is there a beneficial difference? by spikeg33 Started by spikeg33, 02-08-2021, 14:07 PM	11 responses 153 views 0 likes	Last Post by spikeg33 11-08-2021, 12:13 PM
Receipts for repair work done on rental property by Nomy Started by Nomy, 05-08-2021, 12:59 PM	8 responses 278 views 0 likes	Last Post by Piffy 11-08-2021, 10:11 AM
Rent 2 Rent Tax Return by dhoops97 Started by dhoops97, 03-08-2021, 14:24 PM	7 responses 102 views 0 likes	Last Post by dhoops97 08-08-2021, 08:20 AM
Good Accountant recommendations by Rav Started by Rav, 29-07-2021, 15:53 PM	7 responses 96 views 0 likes	Last Post by Gordon999 06-08-2021, 15:12 PM
Parking fines / Pedestrian Zones by Flashback1966 Started by Flashback1966, 05-08-2021, 15:32 PM	11 responses 113 views 0 likes	Last Post by jpkeates 06-08-2021, 13:46 PM
Expenses off-set against income tax by xenoid Started by xenoid, 27-07-2021, 12:54 PM	20 responses 325 views 0 likes	Last Post by Neelix 05-08-2021, 18:45 PM
HMRC Section 36 notice by KILOCHARLIE Started by KILOCHARLIE, 02-08-2021, 08:50 AM	8 responses 124 views 0 likes	Last Post by Neelix 03-08-2021, 10:01 AM
Only home and rented for 6 months in 7 years of living inside, CGT to pay? by LAN45 Started by LAN45, 31-07-2021, 15:41 PM	6 responses 74 views 0 likes	Last Post by LAN45 01-08-2021, 13:25 PM
SPV and Leases by Thurrock1 Started by Thurrock1, 28-07-2021, 20:38 PM	6 responses 75 views 0 likes	Last Post by Gordon999 31-07-2021, 13:35 PM
What Would You Do? by jessa46 Started by jessa46, 30-07-2021, 17:22 PM	5 responses 106 views 0 likes	Last Post by Gordon999 31-07-2021, 12:32 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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