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Started by Lots on, 30-10-2020, 13:37 PM
20 responses
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Last Post Lots on
by Lots on
 
Started by Berkshire45, 02-11-2020, 08:03 AM
1 response
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Last Post jpkeates  
Started by trademark2k6, 02-11-2020, 15:33 PM
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Last Post trademark2k6  
Started by Marcusss, 29-10-2020, 11:23 AM
10 responses
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Last Post AndrewDod  
Started by londonrulz, 28-10-2020, 15:24 PM
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Last Post jpkeates  
Started by JK0, 28-10-2020, 12:12 PM
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Last Post Gordon999  
Started by just wondering, 26-10-2020, 11:07 AM
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Last Post just wondering  
Started by Royalwah, 25-10-2020, 16:09 PM
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Last Post Gordon999  
Started by Conflicted, 25-10-2020, 23:44 PM
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Last Post Gordon999  
Started by Jarek, 20-10-2020, 17:41 PM
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Last Post theartfullodger  
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  • Reducing tax liability question.
    by 1600e
    I'll include all info incase it has a bearing!
    I purchased a house way back in 1989 for 28.5k deposit of 7k so 21.5k mortgage(call this house A) My girlfriend (now my wife since 1998)moved in with me. 5 yrs later I found a house for sale around 1995 for 49.5k but the market was slow at the time...
    28-02-2021, 15:31 PM
  • Travel expenses
    by shoobydoo
    I may be misunderstanding this Hamilton Fraser guide (see excerpt below) but are self-employed landlords allowed to claim travel expenses or not? Thanks.

    "A self-employed landlord can claim some of these – the costs of travel with your own vehicle and working from home – using ‘simplified...
    28-02-2021, 13:08 PM
  • Reply to Travel expenses
    by shoobydoo
    Thank you for your replies. The guide was for this tax year, so I just thought I had missed some changes in HMRC legislation!
    28-02-2021, 15:06 PM
  • Reply to Travel expenses
    by jpkeates
    I agree with the above.
    A rental property is not a regular place of work in that sense.

    As long as the travel is wholly and exclusively for your business, it can be treated as an allowable expense.
    28-02-2021, 15:03 PM
  • Reply to Travel expenses
    by AndrewDod
    As far as I am concerned the advice you are reading is bull. You can claim all mileage. A rental property is not your regular place of work which applies to fixed PAYE jobs. A freelance teacher who travels to the homes of various students can claim all the costs of her travel. It's a cost....
    28-02-2021, 14:41 PM
  • Reply to Travel expenses
    by shoobydoo
    So I cannot claim mileage for doing quarterly inspections or annual gas safety certificates etc as these would be considered "predictable" but diy is ok because it is unpredictable in nature?
    28-02-2021, 14:13 PM
  • Reply to Travel expenses
    by Gordon999
    If you do diy repairs to your BTL property, you can claim mileage allowance for using car to take tools and repair materials to the property or to visit property to change the door lock or check new keys are cut correctly.
    28-02-2021, 13:29 PM
  • Reply to Default Property Sale - CGT - Non resident Tax Payer
    by Gordon999
    The tax rules could change before 2025 because the Chancellor has urgent need to raise tax revenue to cover Covid -19 epidemic costs and an estimated £300 Bil deficit. You should expect capital gains tax rates to be higher in future.

    If your capital gain is low say £20K , you would...
    28-02-2021, 13:21 PM
  • Default Property Sale - CGT - Non resident Tax Payer
    by ChloeRadshaw
    This thread will try to understand better the rules around property disposal for non UK tax payers.

    Background:
    Property bought in 2006 for 240K - Now worth 500K. I am non tax resident in the UK and this has always been a BTL rented out

    Problem
    I have 260K CGT
    ...
    05-11-2020, 16:46 PM
  • Tax for renew lease
    by jimmylau8080
    I going to receive my new 999-year lease with no ground rent payable is given to the leaseholder, after I paid around £7,000 to extend my current flat from 89 years lease to a 999-year lease with no ground rent payable.

    I received a piece of advice that there are income tax implications....
    28-02-2021, 10:50 AM
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