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Started by alteano1965, 17-11-2014, 07:17 AM
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Started by Shaun_19, 15-11-2014, 23:20 PM
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Started by chirpatel, 12-11-2014, 10:11 AM
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Started by PaulRs1, 11-11-2014, 16:37 PM
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Started by sq1, 08-11-2014, 20:41 PM
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Started by Stock81, 05-11-2014, 15:54 PM
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  • Tax implications of remortgaging home for a deposit on a BTL
    by Jerry777
    Hi

    I would be grateful if anyone could help with this query.

    I am remortgaging my home to raise a deposit for a BTL property, and I wondered when I submit my SA tax return, if I would be entitled to a tax credit for the interest on the residential mortgage in the same way as...
    20-06-2021, 18:58 PM
  • Reply to Tax implications of remortgaging home for a deposit on a BTL
    by Gordon999
    You should keep some documentary evidence to show the mortgage loan money raised on house was applied towards purchase of the BTL property.
    23-06-2021, 05:05 AM
  • Reply to Tax implications of remortgaging home for a deposit on a BTL
    by jpkeates
    Yes, provided the loan is for the purposes of the business, it's a business expense.
    22-06-2021, 08:53 AM
  • Reply to Need CGT help or do i ned an accountant
    by Gordon999
    I suggest you send a letter by recorder delivery :

    Tax Ref: xxxxx xxxxx

    Dear Tax Inspector,

    I am the owner of a btl property at 88 Garden terrace , Toy Town .

    I wish to inform you that my rental tenant stopped paying rent in Sept 2019 .
    ...
    20-06-2021, 14:18 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...
    13-06-2021, 11:53 AM
  • Reply to Capital Gain Tax on main home, but let in the past
    by Gordon999
    The first period used as main residence is 3 years plus 9 months after moving away. The second period as main residence is 2 years.

    So out of 10 years ownership , the total capital gain is apportioned 5 years plus 9 months as "main residence and 4 years and 3 months under rental...
    20-06-2021, 14:05 PM
  • Capital Gain Tax on main home, but let in the past
    by Gep
    Hi all,
    I'm thinking about selling my flat and trying to workout how much capital gain tax I would have to pay.
    ​​Accordingly to the HMRC website the rate is 28% if you let the property out, but I'm currently living there so I'm not sure.

    I've owned the property for 10 years:...
    18-06-2021, 17:32 PM
  • inherited house - best to sell or rent
    by Wobble1
    Hi all,

    My father sadly passed away in February, I already owned half of his house as tenants in common via my mothers will (passed several years before), although I didn't live there with him. Have my own house nearby. I am sole beneficiary of his will, and as well as everything else,...
    17-06-2021, 20:32 PM
  • Reply to inherited house - best to sell or rent
    by Gordon999
    If you want to keep both houses and rent out one house, you should visit 3 local estate agents and make enquiries with lettings manager :
    to check out the following info :

    1. What is the rental demand for property in your district or street area ? flats or houses ? furnished...
    20-06-2021, 13:57 PM
  • Reply to inherited house - best to sell or rent
    by Gordon999
    1. If you decide to sell father 's house now, the capital gain will come mainly from your own half share .

    If the capital gain on your half share is around £50K , the cgt tax may be around £50K less £12K allowance = £38K at 18% = £7K .

    The capital gain on the half...
    20-06-2021, 13:32 PM
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