Tax Questions

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Claim letting relief/PPR twice? by fabs Started by fabs, 01-08-2013, 20:59 PM	3 responses 1,494 views 0 likes	Last Post by simon_misiewicz 08-08-2013, 10:48 AM
Please check my calculations on capital gains tax on a partially rented house. by meloncholy Started by meloncholy, 07-08-2013, 22:46 PM	4 responses 726 views 0 likes	Last Post by simon_misiewicz 08-08-2013, 10:16 AM
Residential mortgage interest by Laurasplog Started by Laurasplog, 04-08-2013, 14:28 PM	7 responses 778 views 0 likes	Last Post by Sam9 06-08-2013, 18:57 PM
Inheritance tax implications of a gift by snoop0678 Started by snoop0678, 04-08-2013, 17:44 PM	4 responses 747 views 0 likes	Last Post by snoop0678 05-08-2013, 09:23 AM
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 by cascas 04-08-2013, 21:17 PM
Buyers Premium Accounting Principle by NHR Started by NHR, 31-07-2013, 09:02 AM	4 responses 1,062 views 0 likes	Last Post by NHR 04-08-2013, 10:07 AM
Income to Partner Only? by DekHog Started by DekHog, 31-07-2013, 13:38 PM	5 responses 638 views 0 likes	Last Post by simon_misiewicz 02-08-2013, 04:35 AM
Subletting rooms by luis Started by luis, 29-07-2013, 09:17 AM	4 responses 3,224 views 0 likes	Last Post by hamilton 29-07-2013, 11:24 AM
First time filing of tax return (Form SA700) by marywong828 Started by marywong828, 22-07-2013, 08:57 AM	5 responses 1,718 views 0 likes	Last Post by King_Maker 25-07-2013, 08:45 AM
Interest on Equity Release by Jazzy Started by Jazzy, 22-07-2013, 21:18 PM	1 response 540 views 0 likes	Last Post by King_Maker 22-07-2013, 22:18 PM

Reply to CGT and income

by Gordon999

The capital gains Tax form SA108 is submitted after sale of property .

https://assets.publishing.service.go...sa108-2022.pdf
- Channel: Tax Questions
07-07-2022, 11:38 AM
CGT and income

by slopemaster

Considering selling our rental property and trying to estimate how much CGT is due. We are both basic rate tax payers and the gain from the property will take us into higher rate, so the amount of tax we pay will depend on income for that year – it does vary year to year. I presume the relevant income...
- Channel: Tax Questions
06-07-2022, 05:47 AM
Reply to CGT and income

by slopemaster

Thank you all
- Channel: Tax Questions
06-07-2022, 14:47 PM
Reply to CGT and income

by Lesney Park

Yes

You do, or better an accountant but essentially you report and pay the gain at HMRC https://www.gov.uk/report-and-pay-yo...r-6-april-2020 estimating what you need to, and then report it again essentially in your tax return...
- Channel: Tax Questions
06-07-2022, 08:34 AM
Reply to CGT and income

by jpkeates

You estimate your income for this year and declare and pay the tax accordingly.
When you complete your tax return for the tax year, the figures are adjusted then....
- Channel: Tax Questions
06-07-2022, 08:27 AM
Reply to CGT and income

by theartfullodger

60 days not 2 months.
- Channel: Tax Questions
06-07-2022, 07:50 AM
Reply to SDLT and first time buyers

by DoricPixie

How old are these children if they have yet to go to university?...
- Channel: Tax Questions
04-07-2022, 22:50 PM
SDLT and first time buyers

by mpppen

Hello again.

Just wondering if someone can advise.

If I sell a BTL to my children who do not own their own property, I understand that they'll get the stamp duty relief.... two questions then.

If they're buying the £350,000 jointly, does the relief count for...
- Channel: Tax Questions
03-07-2022, 21:52 PM
Reply to SDLT and first time buyers

by jpkeates

If the buyers are going to rent the property while they go to university, it may meet the criteria for Stamp Duty Relief but it may not.
It would be unusual for siblings leaving university to be able to commit to cohabit in a particular place when they graduate.

There's obviously...
- Channel: Tax Questions
04-07-2022, 15:14 PM
Reply to SDLT and first time buyers

by AndrewDod

Apart from anything else, if you are selling the property to the kids, you are getting cash and they have a 100% mortgage - and then they are not actually paying a mortgage on 100% of 350K you will be paying it -- it is not a classic GROB, but risks falling foul of GROB rules - so when you die, even...
- Channel: Tax Questions
04-07-2022, 14:45 PM

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