Tax Questions

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Capital improvement declaration on SA form? by flexy Started by flexy, 03-01-2015, 01:00 AM	6 responses 791 views 0 likes	Last Post by flexy 03-01-2015, 23:02 PM
Things I can claim for? by DDlandlord Started by DDlandlord, 28-12-2014, 10:07 AM	13 responses 1,862 views 0 likes	Last Post by jpkeates 02-01-2015, 19:19 PM
CGT Calculation When there is an Oustanding Mortgage by ssingh Started by ssingh, 02-01-2015, 15:30 PM	3 responses 737 views 0 likes	Last Post by King_Maker 02-01-2015, 17:22 PM
Calculating Tax for Property Tax - Can Expenses include Losses at Shares and Joint .. by alenuk Started by alenuk, 27-12-2014, 21:25 PM	6 responses 811 views 0 likes	Last Post by theartfullodger 02-01-2015, 11:24 AM
Can I claim back tax on renovations to inherited house by mumto2 Started by mumto2, 31-12-2014, 09:24 AM	4 responses 1,702 views 0 likes	Last Post by jpkeates 31-12-2014, 11:27 AM
Capital Expenditure or repair? by Valley_Commando Started by Valley_Commando, 28-12-2014, 18:01 PM	6 responses 1,107 views 0 likes	Last Post by Valley_Commando 30-12-2014, 18:26 PM
Claiming Interest on SA by ssingh Started by ssingh, 28-12-2014, 03:20 AM	5 responses 657 views 0 likes	Last Post by King_Maker 28-12-2014, 13:39 PM
Home loan on main residence used as a deposit for BTL by marplasto Started by marplasto, 25-12-2014, 19:29 PM	3 responses 655 views 0 likes	Last Post by Claymore 27-12-2014, 18:12 PM
What if your accountant makes an error? by Ericthelobster Started by Ericthelobster, 26-12-2014, 09:19 AM	3 responses 773 views 0 likes	Last Post by theartfullodger 26-12-2014, 12:57 PM
Plumbers bill, deposit paid in March, balance paid in April after works completeed by prcoop Started by prcoop, 23-12-2014, 12:37 PM	1 response 535 views 0 likes	Last Post by jjlandlord 23-12-2014, 12:53 PM

Sunday Times Report 7 Aug 2022 ( on Welsh holiday lets.)

by Gordon999

This report was about a retired solicitor living in Cardiff , with 2 holiday lets in Solva , Pembrokeshire. His properties only let for around 18 weeks a year but Welsh Government require 26 weeks letting to qualify for business rates. The increase in council tax to treble rate compared to rate...
- Channel: Tax Questions
13-08-2022, 17:22 PM
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 gnvqsos

Did the labouring job jeopardise his position at Royal Mail? lt is strange no contingency fund was taken on holiday.. I don't think it makes sense to purchase, and insure/maintain a camper van to save on 7 days accommodation.The typical cost including depreciation exceeds £1500 pa...
- Channel: Tax Questions
13-08-2022, 14:54 PM
Reply to Expense Categories

by theartfullodger

The old saw was that you had 3 sets of accounts....
- one for yourself
- 2nd for tax man
- 3rd for wife/husband/partner
How does your chosen software handle this?...
- Channel: Tax Questions
13-08-2022, 12:14 PM
Expense Categories

by philrosenberg

I'm just in the process of buying my first property as a Ltd company and I have gotten FreeAgent accounting software free with my bank account.

I have a list of categories to assign to my expenses, but they aren't all that relevant to residential property businesses. I wondered if others...
- Channel: Tax Questions
13-08-2022, 10:53 AM
Reply to Higher rate LTT or not?

by AddictedMonster

Thank you very much. I appreciate the information.
- Channel: Tax Questions
13-08-2022, 12:04 PM
Higher rate LTT or not?

by AddictedMonster

Hi my partner and I are looking to sell one of our rentals and our residential property and buy a larger property.

I'm confused whether we will be charged the higher rate land transaction tax due to owning a third property that we own that will not be sold as of yet. It was our previous...
- Channel: Tax Questions
13-08-2022, 11:26 AM
Reply to Expense Categories

by AndrewDod

What you record for your own purposes is up to you, but for purposes of tax return, for just one property, and rent < 80K, can just pop it all into "Other expenses" - so long as you can resurrect it when HMRC audits you.

At least that applies to individual self assessment,...
- Channel: Tax Questions
13-08-2022, 11:57 AM
Reply to Giving/Gifting House to Kids

by Neelix

in the eyes of HMRC all this is completely irrelevant...
- Channel: Tax Questions
13-08-2022, 11:46 AM
Reply to Expense Categories

by Jon66

Most people I know use an excel spreadsheet.
- Channel: Tax Questions
13-08-2022, 11:39 AM

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