Tax Questions

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Who pays tax by madlizzie Started by madlizzie, 25-07-2015, 18:29 PM	22 responses 1,376 views 0 likes	Last Post by jpkeates 27-07-2015, 07:56 AM
Tax Return Mortgage interest calculation query re. Property split into two by Filkins Started by Filkins, 12-01-2015, 08:47 AM	19 responses 1,799 views 0 likes	Last Post by Hooper 25-07-2015, 15:10 PM
Replaced Washing Machine by dpmred Started by dpmred, 25-07-2015, 13:14 PM	3 responses 594 views 0 likes	Last Post by jpkeates 25-07-2015, 14:38 PM
Case of Vodka valid expense claim by chloe_1775 Started by chloe_1775, 24-07-2015, 06:54 AM	21 responses 1,468 views 0 likes	Last Post by catdog1121 25-07-2015, 12:35 PM
On cusp of buying my first flat...advice re tax structuring please! by newtothislark Started by newtothislark, 23-07-2015, 11:35 AM	15 responses 1,152 views 0 likes	Last Post by newtothislark 25-07-2015, 12:17 PM
Apportionment of costs by drdes Started by drdes, 22-07-2015, 08:13 AM	7 responses 637 views 0 likes	Last Post by jpkeates 24-07-2015, 14:03 PM
Can I claim costs of property I didn't end up buying by slee Started by slee, 23-07-2015, 22:08 PM	3 responses 495 views 0 likes	Last Post by King_Maker 24-07-2015, 07:52 AM
Mortgage interest relief and a trust by philip cooper Started by philip cooper, 23-07-2015, 21:10 PM	0 responses 457 views 0 likes	Last Post by philip cooper 23-07-2015, 21:10 PM
rental profits allocation - joint owners- not married- s1030 property income manual by EddieC Started by EddieC, 20-07-2015, 13:26 PM	9 responses 1,167 views 0 likes	Last Post by King_Maker 23-07-2015, 10:10 AM
Allowable expenses by CarefullyDone Started by CarefullyDone, 21-07-2015, 11:26 AM	5 responses 1,501 views 0 likes	Last Post by CarefullyDone 22-07-2015, 09:03 AM

Reply to Capital Gains Tax

by Gordon999

The capital gains is charged at 18% or 28 % rate, and this depends on your job income, which is taxed at 20% or 40% .

Assuming the capital gains tax rate is about 25% average , your total gain is probably around 4 x £50K = £200K ( or over. )

If you are married...
- Channel: Tax Questions
18-08-2022, 11:26 AM
Capital Gains Tax

by LVA

Apologies if this has been covered in this website but I've looked and cannot find...

I bought my flat in 1997, rented it out in 2001 (ish), returned to live in it in March 2020. Its approx 27 years ownership and 7 ish years living in it.

My accountant tells me the CGT...
- Channel: Tax Questions
16-08-2022, 12:59 PM
Reply to Overseas

by jpkeates

I suspect that the accountant wasn't citing the regulations, he was explaining the reality....
- Channel: Tax Questions
18-08-2022, 11:18 AM
Overseas

by jase222

Hi,
I will be moving to Spain for between 6-9months and I will obviously be paying my taxes and I spoke to a Spainish tax accountant who said the authorities won’t be interested in anybody who stays for less than a year as long as you can prove you pay tax in your own country? I’ve never heard...
- Channel: Tax Questions
17-08-2022, 08:05 AM
Giving/Gifting House to Kids

by Tony-Edwards

Elderly parents in early 80s, one in not so good health.

Lived in the same home (no mortgage etc) for 50+ years - now worth approx £180,000 - £200,000 and they have minimal savings.

Looking ahead, if one has to go into care (or council provided home care) I understand there...
- Channel: Tax Questions
11-08-2022, 11:12 AM
Reply to Giving/Gifting House to Kids

by Tony-Edwards

It wasn't meant to question HMRC - it was a response to the rude and thoughtless comments made by some....
- Channel: Tax Questions
18-08-2022, 09:51 AM
Reply to Giving/Gifting House to Kids

by Tony-Edwards

gnvqsos,

Seriously? - the investment was to provide several annual holidays. We're talking 50 years ago, not last week.

Unfortunately, no they didn't have a spare £1,000 lying around for unforeseen circumstances
- Channel: Tax Questions
18-08-2022, 09:07 AM
Reply to Capital Gains Tax

by AndrewDod

I think the point that is being missed here is that inflation *is itself* a type of tax.

It is a tax on savings (on people who try to save so they they or their disabled child can cope without having to lean on the state instead of smoking it away).

Put simply, government...
- Channel: Tax Questions
17-08-2022, 20:20 PM
Reply to Capital Gains Tax

by gnvqsos

I believe CGT did adjust gains in line with the RPI and also had taper relief. This was rejected in the late 90s by GB.
- Channel: Tax Questions
17-08-2022, 18:33 PM
Reply to Overseas

by jase222

I sorted that out but but was surprised by his comments, I know all about Spainish residency as been there before , I am waiting for confirmation.
- Channel: Tax Questions
17-08-2022, 16:41 PM

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