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cascas
Joint tenancy property. Rent assignment upon marrage. Options. by cascas
Started by cascas, 04-08-2013, 19:15 PM
4 responses
597 views
0 likes
 Last Post cascas
by cascas
04-08-2013, 21:17 PM  
NHR
Buyers Premium Accounting Principle by NHR
Started by NHR, 31-07-2013, 09:02 AM
4 responses
1,040 views
0 likes
 Last Post NHR
by NHR
04-08-2013, 10:07 AM  
DekHog
Income to Partner Only? by DekHog
Started by DekHog, 31-07-2013, 13:38 PM
5 responses
638 views
0 likes
 Last Post simon_misiewicz
by simon_misiewicz
02-08-2013, 04:35 AM  
luis
Subletting rooms by luis
Started by luis, 29-07-2013, 09:17 AM
4 responses
3,208 views
0 likes
 Last Post hamilton
by hamilton
29-07-2013, 11:24 AM  
marywong828
First time filing of tax return (Form SA700) by marywong828
Started by marywong828, 22-07-2013, 08:57 AM
5 responses
1,715 views
0 likes
 Last Post King_Maker
by King_Maker
25-07-2013, 08:45 AM  
Jazzy
Interest on Equity Release by Jazzy
Started by Jazzy, 22-07-2013, 21:18 PM
1 response
538 views
0 likes
 Last Post King_Maker
by King_Maker
22-07-2013, 22:18 PM  
john981
Mileage claim against rental income...P87? by john981
Started by john981, 20-07-2013, 13:27 PM
3 responses
1,054 views
0 likes
 Last Post Claymore
by Claymore
22-07-2013, 21:19 PM  
besonders1
Mistake on Tax return Question/ advice by besonders1
Started by besonders1, 22-07-2013, 20:43 PM
0 responses
387 views
0 likes
 Last Post besonders1
by besonders1
22-07-2013, 20:43 PM  
Harper's Ash
Deed of Trust declaration to HMRC by Harper's Ash
Started by Harper's Ash, 22-07-2013, 12:30 PM
10 responses
1,389 views
0 likes
 Last Post King_Maker
by King_Maker
22-07-2013, 18:39 PM  
tas
showing interest on and offset mortgage by tas
Started by tas, 18-07-2013, 15:50 PM
4 responses
829 views
0 likes
 Last Post King_Maker
by King_Maker
22-07-2013, 12:51 PM  
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  • Reply to Need CGT help or do i ned an accountant
    by Sara2
    I fail to see how i can notify hmrc that rental was terminated in 2019 whilt non paying tenant remained in the property until May 21
    17-06-2021, 19:29 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 Need CGT help or do i ned an accountant
    by Gordon999
    If you do not inform the Tax Office and just move back to live in the BTL property, the "rental business with tax losses" , can remain in existence for three years.

    https://www.property-tax-portal.co.u...business.shtml

    But the property owner can notify the Tax Office...
    17-06-2021, 12:28 PM
  • Reply to IHT, CGT and Income tax avoidance
    by jpkeates
    But there's £750,000 mortgage lending to pay off when you die, so the "giving away" is more like a loan.

    I'm not expecting anyone to pay 1p more tax than they should, but I find it's sometimes interesting to replace "the taxman" and "HMRC" with "we/us"...
    17-06-2021, 09:38 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...
    16-06-2021, 16:40 PM
  • Reply to IHT, CGT and Income tax avoidance
    by Section20z
    Yes but people who do maths in your example could give the £750,000 away before death so beneficiaries get £400,000 extra and tax man loses ....
    17-06-2021, 09:01 AM
  • Reply to IHT, CGT and Income tax avoidance
    by jpkeates
    It might be popular, but only to people who can't do maths.

    It's only a tax effective policy in the same way that having no money when you die means you don't pay that much inheritance tax.

    Ignoring the reliefs and personal thresholds for simplicity, if you die with a portfolio...
    17-06-2021, 08:10 AM
  • Reply to Need CGT help or do i ned an accountant
    by jpkeates
    Surely the business continued (the rent was still owed, even if not paid) and the business continued until the disposal of the property (assuming it was the only property in the business).

    Your interpretation is more appealing if it can be justified....
    17-06-2021, 07:54 AM
  • Reply to Need CGT help or do i ned an accountant
    by jpkeates
    Whoever gave you that advice doesn't understand how CGT works.
    You straight line the increase between purchase and disposal and you can deduct any time the property was your main residence (plus some additional months) as that period's gain is tax free.

    Any valuation when you start...
    17-06-2021, 07:52 AM
  • Reply to IHT, CGT and Income tax avoidance
    by Section20z
    I think the point being made is that landlords refinance to use the equity without selling and thus avoid CGT but it's perfectly legal and not necessarily depriving the state coffers as they might not otherwise sell .
    Its long been touted as a good way for building a portfolio and frequently promoted...
    17-06-2021, 07:47 AM
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