Tax Questions

		Statistics	Last Post
Declaration of Trust question by Savage87 Started by Savage87, 25-05-2021, 18:03 PM	28 responses 369 views 0 likes	Last Post by Lawcruncher 25-06-2021, 16:26 PM
Capital Gain Tax on main home, but let in the past by Gep Started by Gep, 18-06-2021, 17:32 PM	3 responses 80 views 0 likes	Last Post by Gordon999 20-06-2021, 14:05 PM
inherited house - best to sell or rent by Wobble1 Started by Wobble1, 17-06-2021, 20:32 PM	12 responses 152 views 0 likes	Last Post by Gordon999 20-06-2021, 13:57 PM
First time investor to a BTL planning for long future and father retirement by Nick constable Started by Nick constable, 18-06-2021, 10:09 AM	1 response 57 views 0 likes	Last Post by jpkeates 18-06-2021, 12:56 PM
IHT, CGT and Income tax avoidance by clairol Started by clairol, 16-06-2021, 16:40 PM	5 responses 105 views 0 likes	Last Post by jpkeates 17-06-2021, 09:38 AM
Capital gain tax on property bought jointly but later changed into sole ownership. by Jeniken Started by Jeniken, 12-06-2021, 12:48 PM	8 responses 96 views 0 likes	Last Post by jpkeates 15-06-2021, 15:03 PM
CGT and SDLT liabilities on sale and the definition of "main residence" when renting by meehr Started by meehr, 12-06-2021, 19:38 PM	5 responses 66 views 0 likes	Last Post by jpkeates 14-06-2021, 06:23 AM
Expenses Allowed against Capital Gains Tax by AJM2 Started by AJM2, 10-06-2021, 16:35 PM	2 responses 86 views 0 likes	Last Post by Gordon999 12-06-2021, 07:04 AM
Do I need to pay capital gains tax here? by Kr335 Started by Kr335, 10-06-2021, 19:04 PM	12 responses 137 views 0 likes	Last Post by Kr335 11-06-2021, 13:37 PM
Second home stamp by KarlRoydon Started by KarlRoydon, 10-06-2021, 11:36 AM	1 response 43 views 0 likes	Last Post by jpkeates 10-06-2021, 11:42 AM

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

Latest Topics