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 yanyan, 27-05-2020, 15:32 PM
9 responses
115 views
0 likes
Last Post lond2020  
Started by BTL investor, 12-06-2020, 20:15 PM
18 responses
209 views
0 likes
Last Post BTL investor  
Started by Danneroo, 07-06-2020, 18:23 PM
11 responses
98 views
0 likes
Last Post Jerome2020  
Started by leasee123, 02-06-2020, 15:01 PM
20 responses
247 views
0 likes
Last Post leasee123  
Started by mmooney, 05-06-2020, 07:23 AM
4 responses
89 views
0 likes
Last Post mmooney
by mmooney
 
Started by GeeMan16966, 05-06-2020, 13:30 PM
6 responses
78 views
0 likes
Last Post jpkeates  
Started by Bill31, 04-06-2020, 12:29 PM
4 responses
78 views
0 likes
Last Post Moderator2  
Started by Gray, 18-05-2020, 17:53 PM
12 responses
193 views
0 likes
Last Post Gordon999  
Started by combo75, 02-06-2020, 04:31 AM
11 responses
89 views
0 likes
Last Post doobrey
by doobrey
 
Started by John83, 01-06-2020, 10:53 AM
1 response
90 views
0 likes
Last Post jpkeates  
No topics found.

Latest Topics

Collapse

  • Stamp Duty on Freehold House subject to long leases; merge title?
    by carolem
    Am interested in buying freehold house which is divided into 2 flats, both let out on AST. G
    round floor flat is held under the terms of a Lease dated the 11 November 1987 granted for the term of 999 years from the 1st February 1987 and the first floor flat is held under the terms of a Lease dated the
    ...
    Should Nelson Mandela's statute remain?
    0%
    0
    Should death penalty's reintroduction be subject to public referendum?
    0%
    0
    02-07-2020, 10:02 AM
  • Reply to Tax Return - HELP!
    by jpkeates
    I'd include the 12th month.

    While you're correct that the income fell into the 2018/19 tax year, you didn't declare it then, which is could trigger a fine and a penalty.
    It probably won't, but you need to be very careful with your tax - getting on the wrong side of HMRC is a lifetime...
    02-07-2020, 08:51 AM
  • Tax Return - HELP!
    by Brian862107
    Does anyone know of any good online tutorials/guides for filling out your self-assessment tax return? I don't know about you's but I hate filling out forms (they always ask you to tick a box to say the information you've put in is correct too!!)!

    This is my first year filling out the self-assessment...
    01-07-2020, 15:51 PM
  • Reply to Tax Return - HELP!
    by Brian862107
    I've had a look over my rental statements and remembered the reason I have 11 months this tax year and not 12 was that the 1st month rental statement was on the 5th April 2019 (like one day before the 6th April 2019 tax year). I just want to confirm that this is correct or do I need to include the 5th...
    02-07-2020, 07:50 AM
  • Reply to Tax Return - HELP!
    by Brian862107
    jpkeates Thanks for the informative and quick reply. I didn't mean i'd charge for labour when doing repairs (might not be a lot for paint/shower or whatever i would need to buy but adds up but understand i'd keep receipts and add on form later as expense.) but your post is quite clear and think I've...
    02-07-2020, 06:26 AM
  • Reply to Tax Return - HELP!
    by Jon66
    The electronic self assessment is fairly easy. If you're not doing this I would recommend you get it set up for next time. There are also explanatory notes as you go along. Just done mine, it must be the covid effect! Doesn't normally get done until after Christmas.
    01-07-2020, 23:00 PM
  • Reply to Tax Return - HELP!
    by Gordon999
    Are you preparing the paper tax return SA105 ? The figures declared in each box are for one year .

    So rental income = £5500.( box 20)

    Insurance and rates := ( box 24 )

    Prop Repairs = ( box 25 )

    Prof Fees ( letting agent ) = £660 ( box...
    01-07-2020, 21:38 PM
  • Reply to Tax Return - HELP!
    by jpkeates
    I get an accountant to complete my tax return.
    It costs, but it's an allowable expense and it's worth it just to know that I'm keeping the tax I pay to a minimum.


    You are taxed on your net income (which is rent less expenses - like the management fee and repairs), but you don't...
    01-07-2020, 16:54 PM
  • Reply to Returning from oversea landlord taxation
    by jpkeates
    When you began your new business you should have told HMRC.
    They would have confirmed how they wanted you to complete your tax return.

    If you get in touch now, they'll confirm what they want you to do.

    Tax returns are based on the tax year, which runs from 6th April to...
    01-07-2020, 16:13 PM
  • Returning from oversea landlord taxation
    by LAN45
    Hello,

    I have been living abroad and paied rental income taxes, according to legislation, to HMRC as oversea landlord.

    ue to recent developments I'm moving back to UK looking for a job and would like to understand how to handle paying taxes? I will have no further income for...
    22-06-2020, 12:15 PM
Working...
X