Tax Questions

Collapse

Forums Topics Posts Last Post
No forums found.
  • Filter
  • Time
  • Show
  • New Topics
Clear All
new posts
There are no conversations in this channel.
  • Filter
  • Time
  • Show
Clear All
new posts
Please log in to your account to view your subscribed posts.
  • Filter
  • Time
  • Show
  • Sort By
  • Order
Clear All
new posts
Topics Statistics Last Post
Started by splodge2001, 12-01-2018, 12:31 PM
4 responses
122 views
0 likes
Last Post Gordon999  
Started by bob999, 11-01-2018, 21:30 PM
3 responses
65 views
0 likes
Last Post Gordon999  
Started by Do224, 10-01-2018, 10:56 AM
4 responses
113 views
0 likes
Last Post Do224
by Do224
 
Started by curtlyb, 10-01-2018, 15:58 PM
4 responses
109 views
0 likes
Last Post Gordon999  
Started by Do224, 08-01-2018, 10:37 AM
5 responses
69 views
0 likes
Last Post Do224
by Do224
 
Started by MisterB, 09-01-2018, 09:56 AM
4 responses
70 views
0 likes
Last Post MisterB
by MisterB
 
Started by daxu, 08-01-2018, 11:23 AM
15 responses
161 views
0 likes
Last Post Gordon999  
Started by Hayward, 07-01-2018, 22:47 PM
2 responses
45 views
0 likes
Last Post DPT57
by DPT57
 
Started by tazzkay, 08-01-2018, 10:25 AM
3 responses
41 views
0 likes
Last Post Gordon999  
Started by daxu, 07-01-2018, 15:09 PM
4 responses
75 views
0 likes
Last Post jpkeates  
No topics found.

Latest Topics

Collapse

  • Capital Gains Tax !
    columbo
    Ok you clever people , I could make this very long but I will try and keep it short , How do you no or find out if you have to pay this tax ? I have a few property,s and would like to sell the largest one but have been told if I'm not the payer of the bills I only have 18 months and then its not my...
    19-01-2018, 14:20 PM
  • Reply to Capital Gains Tax !
    Gordon999
    If you have lived in the property for 21 years out of 23 years , the tax office will give exemption to capital gains tax for 21 years + 18 months from date of moving out. So only the gain for last 6 months is taxable.

    If your capital gain over 23 years gives you £460,000 profit which...
    19-01-2018, 19:16 PM
  • Reply to Capital Gains Tax !
    columbo
    Thank you .
    19-01-2018, 16:49 PM
  • Reply to Capital Gains Tax !
    AndrewDod
    Then your CGT bill will almost certainly be zero.

    Unless it is an extremely expensive property and increased in value by at least a million or so (given two basic CGT exemptions) -- if that is the case you will need to look at precise numbers.

    Can you prove it was your only...
    19-01-2018, 16:46 PM
  • Reply to Capital Gains Tax !
    columbo
    Thanks for your replys , The house was our main living house until 2 years ago when we down sized ,we never rented the house out as tried to sell it but it fell threw a couple of times so no we never rented this house , Our tax records are all complete and up to date with the other propertys , We don't...
    19-01-2018, 16:27 PM
  • Reply to Capital Gains Tax !
    AndrewDod
    Paying of (utility) bills has nothing whatsoever to do with ownership with respect to Capital gains.

    If you lived there for 23 years and rented it out for 2 years, GCT would almost certainly be zero.

    But you seem not to have lived there - or did you????. The amount of time...
    19-01-2018, 16:25 PM
  • Reply to Capital Gains Tax !
    leaseholder64
    Reading "no" as "know", and assuming you have copyright clearance.

    It is not a property tax; it might better be described as an investment tax. Also it is not 40%; the rate depends on your marginal rate of tax, and whether or not the gain is on residential property,...
    19-01-2018, 16:08 PM
  • Reply to Capital Gains Tax !
    ash72
    I'm am assuming this property you are selling was previously rented out, and therefore was not your main residence, if this is the case you will be liable to CGT, the exception is only for your main residence, if you can prove you lived there prior to selling it you could then get the relief of CGT...
    19-01-2018, 15:46 PM
  • Tax allowance using my home as an office for my BTL's
    UH-lettings
    Hi guys newbie here, been a landlord over 10 years with 3 BTL properties learnt a few things or two over the years and have slowly perfected the skill of using as much of my tax allowance where possible almost! , as we draw closer to the deadline of the 31st Jan, wanted to dot the i's and cross...
    24-12-2017, 18:23 PM
  • Reply to Tax allowance using my home as an office for my BTL's
    UH-lettings
    thanks everyone for your input...
    19-01-2018, 10:45 AM
Working...
X