Tax Questions

		Statistics	Last Post
New government tax legislations by Damo-h666 Started by Damo-h666, 25-07-2017, 14:38 PM	7 responses 145 views 0 likes	Last Post by tatemono 26-07-2017, 09:23 AM
Renting below market rate by insightforthe Started by insightforthe, 21-07-2017, 23:28 PM	4 responses 189 views 0 likes	Last Post by Gordon999 26-07-2017, 08:35 AM
tax rate question by vik2001 Started by vik2001, 20-07-2017, 18:35 PM	4 responses 163 views 0 likes	Last Post by emwithme 22-07-2017, 19:45 PM
VAT paid on Apartment block maintenance by lampshade Started by lampshade, 20-07-2017, 08:37 AM	13 responses 289 views 0 likes	Last Post by leaseholder64 22-07-2017, 13:41 PM
Second Home SDLT by xavaar Started by xavaar, 19-07-2017, 16:01 PM	2 responses 98 views 0 likes	Last Post by tatemono 20-07-2017, 09:15 AM
Paying myself a salary by Laurasplog Started by Laurasplog, 17-07-2017, 13:31 PM	8 responses 360 views 0 likes	Last Post by jpkeates 19-07-2017, 18:39 PM
CGT and PRR question by vik2001 Started by vik2001, 11-07-2017, 11:26 AM	8 responses 280 views 0 likes	Last Post by Gordon999 17-07-2017, 13:21 PM
Tax free allowance on Dividends. by Gordon999 Started by Gordon999, 17-07-2017, 13:18 PM	0 responses 50 views 0 likes	Last Post by Gordon999 17-07-2017, 13:18 PM
Stamp Duty on main residence & a holiday let by SimonScott123 Started by SimonScott123, 13-07-2017, 07:37 AM	2 responses 134 views 0 likes	Last Post by Gordon999 13-07-2017, 20:47 PM
Director loans, dividends and interest by origin Started by origin, 07-07-2017, 16:49 PM	2 responses 273 views 0 likes	Last Post by jpkeates 10-07-2017, 13:50 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
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 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
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 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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