Tax Questions

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claiming for visits to let properties - what's considered reasonable? by ldsau93 Started by ldsau93, 07-12-2014, 12:01 PM	3 responses 604 views 0 likes	Last Post by jpkeates 08-12-2014, 15:19 PM
Income tax on subtenancy rent? by fedtri Started by fedtri, 08-12-2014, 13:49 PM	3 responses 755 views 0 likes	Last Post by theartfullodger 08-12-2014, 14:58 PM
Capital Gains Tax Private - Residence and Lettings Relief Question by Homeward Bound Started by Homeward Bound, 07-12-2014, 21:17 PM	0 responses 583 views 0 likes	Last Post by Homeward Bound 07-12-2014, 21:17 PM
Capital gains tax - help please.. by MattUK Started by MattUK, 02-12-2014, 20:24 PM	1 response 600 views 0 likes	Last Post by Gordon999 04-12-2014, 05:13 AM
Gifting a property?? by Claymore Started by Claymore, 02-12-2014, 17:41 PM	5 responses 972 views 0 likes	Last Post by theartfullodger 02-12-2014, 21:53 PM
Reduce tax bill by JK0 Started by JK0, 01-12-2014, 23:57 PM	7 responses 996 views 0 likes	Last Post by jpkeates 02-12-2014, 18:36 PM
Overseas Capital Loss offest against UK Capital Gain ? by Never what it seems Started by Never what it seems, 30-11-2014, 09:08 AM	4 responses 3,973 views 0 likes	Last Post by Claymore 30-11-2014, 18:27 PM
Limited company? by Scutler Started by Scutler, 23-11-2014, 13:37 PM	11 responses 1,909 views 0 likes	Last Post by Claymore 30-11-2014, 11:54 AM
Tax query by kitoro Started by kitoro, 22-11-2014, 18:03 PM	8 responses 1,735 views 0 likes	Last Post by Gordon999 30-11-2014, 04:12 AM
Buying property with a family member by dotcotton999 Started by dotcotton999, 27-11-2014, 10:53 AM	3 responses 837 views 0 likes	Last Post by jpkeates 27-11-2014, 13:39 PM

Reply to Need CGT help or do i ned an accountant

by Sara2

Unfortunately i rented it out in 2010. My tenant stopped paying rent in 2019. When i purchased the property for 140,000 it was valued by 3 Estate Agents at that time ranging from 140,000 to 15,000. I presumed i had to use the actual amount i purchased the house for.
- Channel: Tax Questions
16-06-2021, 21:24 PM
Need CGT help or do i ned an accountant

by Sara2

Mother died in 2007 left house to me and my 2 sibs it was family home and i lived in it until 1985 when i had my own house. My brother also lived in house at point mum died and he remained there until 2010 when not being able to sell the property i purchased whole of property by buying brother and...
- Channel: Tax Questions
13-06-2021, 11:53 AM
IHT, CGT and Income tax avoidance

by clairol

So I’ve been listening to some property investment seminars where the suggestion is to buy ‘good’ properties, regularly put the rent up and never sell them.
The advice is to keep them forever so you do not pay CGT; re-finance regularly and either enjoy the money or re-invest it; pay minimal...
- Channel: Tax Questions
16-06-2021, 16:40 PM
Reply to Need CGT help or do i ned an accountant

by Piffy

For what it would cost (£150 - £200) you could get a Specialist Tax Accountant to look at it for you. Unless I am mistaken the payment of CGT has changed, you no longer do it on your Self Assessment form, you have 30 days after the sale to pay the CGT.
PS, If there was a substantial gap between...
- Channel: Tax Questions
16-06-2021, 15:12 PM
Reply to Need CGT help or do i ned an accountant

by jpkeates

I don't believe that the eviction costs are allowable against CGT.
They're an operating expense, not a capital expense.

Legal costs associated with the actual purchase and sale are allowable against CGT.
- Channel: Tax Questions
16-06-2021, 14:47 PM
Reply to Need CGT help or do i ned an accountant

by Sara2

Thanks for taking the time to answer. I am pleased i can set eviction costs against it. I have now found the separate form to fill in. Many thanks hopefully i can do this without an accountant.
- Channel: Tax Questions
16-06-2021, 13:32 PM
Capital gain tax on property bought jointly but later changed into sole ownership.

by Jeniken

Hi Everybody,

Please could anybody help me the correct calculation on an investment property bought as joint tenants with a partner (we have never been married) in 1999 for £80,000.
We split up and I took out a mortgage for £112,500 and became the sole owner of the property. I have...
- Channel: Tax Questions
12-06-2021, 12:48 PM
Reply to Capital gain tax on property bought jointly but later changed into sole ownership.

by jpkeates

Thank god for that!

Anytime I don't agree with you about tax, I know I'm wrong!...
- Channel: Tax Questions
15-06-2021, 15:03 PM
Reply to Capital gain tax on property bought jointly but later changed into sole ownership.

by Gordon999

Jpk,

Yes, you are right , adding some cost items to the sale price does not make sense. The brackets to show all cost items are deducted from the sale price are missing.
- Channel: Tax Questions
15-06-2021, 14:09 PM
Reply to Capital gain tax on property bought jointly but later changed into sole ownership.

by jpkeates

That calculation adds the costs associated with the sale into the gain.
Are inferring some brackets?...
- Channel: Tax Questions
14-06-2021, 06:41 AM

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