Tax Questions

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Buying agent commission - offset against CGT or income? by eppsy64 Started by eppsy64, 15-09-2013, 19:44 PM	2 responses 946 views 0 likes	Last Post by eppsy64 19-09-2013, 11:40 AM
my mum is moving away, so i was gonna pay her mortgage and live here by mollieframpton Started by mollieframpton, 16-09-2013, 12:02 PM	7 responses 2,313 views 0 likes	Last Post by lorddan02 17-09-2013, 21:11 PM
Solar PV on commercial building by JoeNinety Started by JoeNinety, 11-09-2013, 17:15 PM	1 response 507 views 0 likes	Last Post by JoeNinety 17-09-2013, 09:14 AM
Landlord income Tax? -who's responsible for paying the income tax? by Trecils Started by Trecils, 16-09-2013, 01:38 AM	3 responses 1,065 views 0 likes	Last Post by Gordon999 16-09-2013, 07:28 AM
Vat on Rooms? by Evergreen Started by Evergreen, 15-09-2013, 17:55 PM	1 response 589 views 0 likes	Last Post by Gordon999 16-09-2013, 03:03 AM
Selling off part of property to wholly owned sole trader company by sheik_yerbouti Started by sheik_yerbouti, 15-09-2013, 14:37 PM	1 response 707 views 0 likes	Last Post by Snorkerz 15-09-2013, 20:19 PM
Capital gain in the UK, Capital loss in Spain? by MickyV Started by MickyV, 14-09-2013, 16:44 PM	1 response 1,206 views 0 likes	Last Post by Gordon999 15-09-2013, 15:10 PM
how to calculate capital gain tax when we sell our letted property? by daxu Started by daxu, 19-08-2013, 12:51 PM	7 responses 3,546 views 0 likes	Last Post by MickyV 14-09-2013, 16:25 PM
Landlord Council Tax on Empty Property by ACOURT10 Started by ACOURT10, 02-09-2013, 12:57 PM	9 responses 2,218 views 0 likes	Last Post by MisterB 13-09-2013, 22:34 PM
A little advice needed for new landlord by Syeroberts Started by Syeroberts, 12-09-2013, 20:03 PM	5 responses 845 views 0 likes	Last Post by LesleyAnne 12-09-2013, 21:42 PM

Removed 2nd kitchen to sell property but can I still claim install costs against CGT

by rugbyroom

Dear Forum,

When I purchased a property back in 2007, I had an upstairs bedroom converted into a small kitchen and bathroom to create a self contained ground floor flat and a second kitchen / bathroom for the other 3 bedrooms upstairs to use.

The council had no issue with the...
- Channel: Tax Questions
28-06-2022, 11:16 AM
Reply to Removed 2nd kitchen to sell property but can I still claim install costs against CGT

by SouthernDave

Reading stuff like this makes me glad we have a ltd company structure.
- Channel: Tax Questions
29-06-2022, 20:39 PM
Reply to Removed 2nd kitchen to sell property but can I still claim install costs against CGT

by Gordon999

I did not recommend claiming the original 2007 cost because it may raise doubts ..........

For the 2022 expense, the property was improved to enable to buyer to qualify for a mortgage....
- Channel: Tax Questions
29-06-2022, 19:02 PM
Reply to Removed 2nd kitchen to sell property but can I still claim install costs against CGT

by Sydaton

do you have an opinion, Gordon999, as to whether,they can claim the original cost of the kitchen install against their CGT as well?...
- Channel: Tax Questions
29-06-2022, 16:19 PM
Second home tax - should I divorce and re-marry?

by ReluctantLL2022

Hi,
Around 10 years ago, I bought my first property to live in. My dad helped me out and paid a 50% deposit to get me on the ladder. I'm listed as the owner on the summary of title land registry documents under the leaseholder/freeholder section.

After living in the property for...
- Channel: Tax Questions
28-06-2022, 21:20 PM
Reply to Second home tax - should I divorce and re-marry?

by Gordon999

R-2022,

In #2 , I proposed the "company" buys the property from you and the company becomes the owner of the property. The Company has no funds and borrows the £240K ; 50% mortgage loan from Bank and 50% loan from you ( director's personal loan ). The bank loan is...
- Channel: Tax Questions
29-06-2022, 15:07 PM
Reply to Second home tax - should I divorce and re-marry?

by DoricPixie

There’d be no point in attempting it as a married couple but unmarried couples would also be in for a nasty surprise since HMRC consider getting to occupy the property in such circumstances as a benefit....
- Channel: Tax Questions
29-06-2022, 15:00 PM
Reply to Second home tax - should I divorce and re-marry?

by DoricPixie

https://www.samconveyancing.co.uk/ne...lications-6085...
- Channel: Tax Questions
29-06-2022, 14:58 PM
Reply to Second home tax - should I divorce and re-marry?

by jpkeates

It's very unusual for a lender to be prepared to lend on a joint basis against a property owned by only one of joint borrowers.
And the additional SDLT would be payable if the two people were married anyway.

I can't imagine there are many instances of this ever happening.
- Channel: Tax Questions
29-06-2022, 13:38 PM
Reply to Second home tax - should I divorce and re-marry?

by ReluctantLL2022

Gordon999,
Good point on #1, I haven't calculated the capital gain, but I suspect it'll be more than £20K.

#2 sounds complicated - is this relatively straightforward to do with most lawyers?

"It's why those couples who try to circumvent the higher rate of SDLT rules...
- Channel: Tax Questions
29-06-2022, 13:20 PM

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