Tax Questions

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Capital gains and selling a property that I currently live in by chirpatel Started by chirpatel, 13-09-2015, 14:51 PM	4 responses 499 views 0 likes	Last Post by simon_misiewicz 21-09-2015, 17:31 PM
Is rent I have to pay on a residential property and allowed expense? by Chopkinson Started by Chopkinson, 28-08-2015, 12:54 PM	6 responses 795 views 0 likes	Last Post by simon_misiewicz 21-09-2015, 17:27 PM
Incentives and the tax rule? by sound01 Started by sound01, 21-09-2015, 12:11 PM	0 responses 315 views 0 likes	Last Post by sound01 21-09-2015, 12:11 PM
Selling property to existing tenants by Trenny1 Started by Trenny1, 12-09-2015, 10:19 AM	10 responses 1,161 views 0 likes	Last Post by Trenny1 18-09-2015, 11:17 AM
How do I only pay tax on rental income not bills by Tia! Started by Tia!, 13-09-2015, 20:08 PM	3 responses 589 views 0 likes	Last Post by JerzyBalowski 13-09-2015, 22:43 PM
Treasury asks RLA for feedback: Tax Survey by RLA_Campaigns Started by RLA_Campaigns, 09-09-2015, 15:42 PM	5 responses 668 views 0 likes	Last Post by Claymore 11-09-2015, 21:43 PM
Analysis of the Interest Restriction on borrowers by Phlash Started by Phlash, 02-09-2015, 09:55 AM	1 response 567 views 0 likes	Last Post by flash_uk 09-09-2015, 14:09 PM
Help please before I jump by miaken Started by miaken, 30-08-2015, 19:15 PM	14 responses 1,766 views 0 likes	Last Post by jpkeates 03-09-2015, 10:53 AM
Council tax, date of moving in/ moving out by Ricco E Started by Ricco E, 30-08-2015, 13:32 PM	5 responses 745 views 0 likes	Last Post by theartfullodger 31-08-2015, 11:18 AM
Fitting my current kitchen into a BTL by Michael007 Started by Michael007, 28-08-2015, 11:41 AM	7 responses 835 views 0 likes	Last Post by theartfullodger 28-08-2015, 20:05 PM

Reply to Is it an allowable expense or capital expense

by AndrewDod

Can't see any reason this would be an insured event. Agree it is not a capital expense at all....
- Channel: Tax Questions
25-05-2022, 09:25 AM
Reply to Is it an allowable expense or capital expense

by Another Fine Mess

If you dont mind me suggesting, If your Insurance Company is rejecting your claim you could get in touch with a Chartered Loss Assessor who would argue with the Insurance Company Loss Adjuster, its worth a phone call to one.
- Channel: Tax Questions
24-05-2022, 16:30 PM
Is it an allowable expense or capital expense

by shipboard

I rent out a single property, during the winter storms the brickwork was damaged and the cheapest option to repair it was to render the Gable end and rear of the property. I tried to claim on the insurance but they maintained it was due to wear and tear, I am of course disputing this. My question is...
- Channel: Tax Questions
24-05-2022, 10:04 AM
Reply to Is it an allowable expense or capital expense

by gnvqsos

I think the insurance company were right-the render must have been distressed to suffer storm damage. You can offset cost against income.
- Channel: Tax Questions
24-05-2022, 14:36 PM
Reply to CGT query

by Gordon999

Hmrc rules allow transfers between spouses without cgt. The recipient spouse takes on the asset at the original purchase price.
- Channel: Tax Questions
24-05-2022, 11:16 AM
Reply to Is it an allowable expense or capital expense

by Gordon999

I agree with jpk : it is a maintenance expense which is claimed against rental income....
- Channel: Tax Questions
24-05-2022, 11:12 AM
Reply to Is it an allowable expense or capital expense

by jpkeates

I'd say that's a maintenance cost and would be allowed against income.
It would affect the value of the property, but only to restore it to the level that it was at prior to the damage (plus the general positive effect of any large maintenance work).
- Channel: Tax Questions
24-05-2022, 10:53 AM
CGT query

by vik238754

Hello. Since 2013 my wife and I own a property as tenants in common where the beneficial interest split is 90% her and 10% me. We are now looking to sell the property. I have a large CGT loss and using the HMRC CGT calculator I have calculated that if I change the split to 70% me and 30% my wife...
- Channel: Tax Questions
23-05-2022, 19:37 PM
Reply to CGT query

by jpkeates

What you are planning to do is routine and HMRC will accept the change as a matter of routine admin.
- Channel: Tax Questions
24-05-2022, 09:13 AM
Any property tax experts you can recommend please?

by mpppen

Hello,
We have a small BTL portolio of five properties. Some are in our personal names and the latter ones in a property company we set up a few years' ago when the tax rules changed.

I'd really like to find someone who can advise us of the best way of either bringing the personal...
- Channel: Tax Questions
03-03-2022, 20:00 PM

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