Tax Questions

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Tax relief on refinancing advice please. by Highland Started by Highland, 19-10-2013, 23:26 PM	1 response 4,667 views 0 likes	Last Post by King_Maker 20-10-2013, 09:00 AM
Council tax problem by pcsdad Started by pcsdad, 07-10-2013, 09:15 AM	3 responses 806 views 0 likes	Last Post by pcsdad 18-10-2013, 20:48 PM
Renovation costs - what can be claimed? by prcoop Started by prcoop, 15-10-2013, 14:19 PM	2 responses 1,165 views 0 likes	Last Post by badbobby 17-10-2013, 10:51 AM
New landlord by Dinger Started by Dinger, 15-10-2013, 15:17 PM	1 response 487 views 0 likes	Last Post by King_Maker 17-10-2013, 09:39 AM
tax questions on BTL AND RESIDENTIAL mortgage by arvina2007 Started by arvina2007, 15-10-2013, 11:12 AM	5 responses 940 views 0 likes	Last Post by King_Maker 17-10-2013, 09:36 AM
CGT selling of both properties by Apple21 Started by Apple21, 16-10-2013, 02:43 AM	2 responses 557 views 0 likes	Last Post by King_Maker 17-10-2013, 07:56 AM
Self employed? by Trockett79 Started by Trockett79, 15-10-2013, 18:12 PM	4 responses 992 views 0 likes	Last Post by King_Maker 17-10-2013, 07:39 AM
Does contributing to mortgage payments give a spouse legal ownership for tax purposes by geoffg.landlordzone Started by geoffg.landlordzone, 07-10-2013, 14:45 PM	4 responses 857 views 0 likes	Last Post by geoffg.landlordzone 16-10-2013, 14:58 PM
How do i inform hmrc i have a blt by johnsmith0774 Started by johnsmith0774, 15-10-2013, 14:52 PM	5 responses 1,468 views 0 likes	Last Post by badbobby 15-10-2013, 20:34 PM
Declarations of Trust by badbobby Started by badbobby, 14-10-2013, 11:48 AM	4 responses 778 views 0 likes	Last Post by badbobby 15-10-2013, 14:14 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
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 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
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 Higher rate LTT or not?

by AddictedMonster

Thank you very much. I appreciate the information.
- Channel: Tax Questions
13-08-2022, 12:04 PM
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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