Tax Questions

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Landlord tax implications....basics by landlordmrjim Started by landlordmrjim, 15-01-2014, 20:22 PM	7 responses 1,013 views 0 likes	Last Post by King_Maker 16-01-2014, 19:06 PM
Accountant by philip cooper Started by philip cooper, 15-01-2014, 20:48 PM	2 responses 700 views 0 likes	Last Post by graham123 16-01-2014, 10:40 AM
Can I choose to defer a loss on my tax return? by philc27 Started by philc27, 15-01-2014, 21:22 PM	1 response 572 views 0 likes	Last Post by King_Maker 15-01-2014, 23:08 PM
Tricky CGT calculation by AndrewDod Started by AndrewDod, 13-01-2014, 02:15 AM	5 responses 1,119 views 0 likes	Last Post by AndrewDod 14-01-2014, 17:49 PM
resetting the clock on CGT by flexy Started by flexy, 13-01-2014, 23:57 PM	2 responses 490 views 0 likes	Last Post by flexy 14-01-2014, 09:19 AM
Personal Allowance - tax help! by uktaxhelp Started by uktaxhelp, 14-01-2014, 06:30 AM	1 response 569 views 0 likes	Last Post by King_Maker 14-01-2014, 08:43 AM
CGT Letting relief/PRR by desouzi04 Started by desouzi04, 06-01-2014, 22:10 PM	11 responses 2,474 views 0 likes	Last Post by Gordon999 12-01-2014, 12:54 PM
Transfer of property - tax question by rkelly Started by rkelly, 08-01-2014, 20:48 PM	2 responses 606 views 0 likes	Last Post by Gordon999 10-01-2014, 22:53 PM
Capital Gains question by buffalo747 Started by buffalo747, 30-12-2013, 17:35 PM	12 responses 1,833 views 0 likes	Last Post by buffalo747 10-01-2014, 16:32 PM
tax deductable interest... by alex_bisgrove Started by alex_bisgrove, 08-01-2014, 13:53 PM	2 responses 657 views 0 likes	Last Post by alex_bisgrove 09-01-2014, 18:22 PM

Reply to EICR check and follow up work Tax deductible?

by AndrewDod

Yes of course it is....
- Channel: Tax Questions
09-08-2020, 23:39 PM
EICR check and follow up work Tax deductible?

by Celibin

Just wondering if this is the case and can be claimed on self-assessment?
- Channel: Tax Questions
09-08-2020, 06:45 AM
Reply to CGT evidence

by AndrewDod

Most of those things are not capital expenses anyway. Your probably already claimed then as expenses against rental income. Painting a place which you then live in certainly is not a capital expense, not an improvement (in CGT terms). Building a wall where there was not one before is an example of an...
- Channel: Tax Questions
09-08-2020, 23:25 PM
CGT evidence

by PaulRs1

Hi All,

I’m an accidental landlord and about to sell the house. Lived in it for 4 years and rented it out for 6 (with the intention of moving back, which never happened)

im aware I need to pay CGT and can claim improvement costs, I basically bought a wreck and renovated it...
- Channel: Tax Questions
08-08-2020, 13:25 PM
Can I Rent My Private BTLs to my own Ltd Company?

by Crunchie

I own 5 buy to let HMOs in my private name with mortgages and have to pay the higher rate of income tax. My properties are my only source of income.

Can I set up a Ltd Company and rent my properties to it for a rental that is less than the higher rate tax band, say £45,000 total? The tenants...
- Channel: Tax Questions
09-08-2020, 20:25 PM
Reply to Tax to Pay on Lease Extension

by divadee

We paid 18,000 for the freehold and had legal costs of approx 2k for the purchase. This was 4 years ago though. Can we still offset purchase price over income 4 years later?...
- Channel: Tax Questions
09-08-2020, 20:20 PM
Tax to Pay on Lease Extension

by divadee

Myself and partner own the freehold to the building we live in, this is in the form of a limited company. We were accidental freeholders as the previous freeholder wanted to sell and no one else living here wanted to buy it so we bought it to have some control over the service charges etc....
...
- Channel: Tax Questions
07-08-2020, 09:48 AM
First time self assessment calculation before submittnig?

by Advice seeker

Hi all

This might be a simple one, or not.

Can someone please advise if this seems correct?

For 2019-2020 I have the following on the HMRC form:

£9715 income
£2558 total allowable expenses

Profit £7517

I believe mortgage...
- Channel: Tax Questions
15-07-2020, 20:04 PM
Reply to First time self assessment calculation before submittnig?

by Advice seeker

Thanks JP, good to know.

Does it make a difference I have never actually lived there?

In a nutshell, was family home, to keep certain over sentimental family members happy, it wasn't touched for ten years, literally, until the council threatened a forced purchased. Even when...
- Channel: Tax Questions
09-08-2020, 15:46 PM
Reply to CGT evidence

by Gordon999

Since you live in the house for 4 years plus you can claim 9 months after moving out as your main residence period = roughly 5 years .

You will have to pay cgt for last 5 years whilst under rental . I suggest you pay for a "high valuation" for your property in Aug 2015...
- Channel: Tax Questions
09-08-2020, 11:40 AM

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