Tax Questions

		Statistics	Last Post
Change in new return form? by Advice seeker Started by Advice seeker, 16-01-2022, 19:38 PM	0 responses 36 views 0 likes	Last Post by Advice seeker 16-01-2022, 19:38 PM
Claiming tools on expenses by jtufty Started by jtufty, 14-01-2022, 20:07 PM	5 responses 115 views 0 likes	Last Post by jtufty 16-01-2022, 07:25 AM
Attempt to channel rental income to partner. by robeallen Started by robeallen, 12-01-2022, 17:32 PM	4 responses 103 views 0 likes	Last Post by theartfullodger 14-01-2022, 13:18 PM
SDLT for long term Tenants by jpucng62 Started by jpucng62, 12-01-2022, 09:30 AM	7 responses 59 views 0 likes	Last Post by jpucng62 12-01-2022, 14:47 PM
CGT allowable expenditure by MandoProp Started by MandoProp, 10-01-2022, 15:00 PM	3 responses 99 views 0 likes	Last Post by JamesHopeful 12-01-2022, 11:25 AM
Tax Accountant by Jockthescot Started by Jockthescot, 01-01-2022, 17:27 PM	5 responses 140 views 0 likes	Last Post by SandPit 11-01-2022, 03:18 AM
Completing Tax Return - Income from Property or Self Employed by Phyllis Started by Phyllis, 10-01-2022, 11:04 AM	1 response 78 views 0 likes	Last Post by AndrewDod 10-01-2022, 13:02 PM
Cgt by jase222 Started by jase222, 10-01-2022, 09:51 AM	2 responses 40 views 0 likes	Last Post by AndrewDod 10-01-2022, 13:01 PM
Should i go Ltd Company? by Redsteven Started by Redsteven, 09-01-2022, 13:20 PM	4 responses 88 views 0 likes	Last Post by landlord666 10-01-2022, 12:04 PM
Tax and Repair question by Mittell Started by Mittell, 08-01-2022, 21:26 PM	9 responses 111 views 0 likes	Last Post by Mittell 09-01-2022, 15:25 PM

Reply to Where to enter tax paid?

by Advice seeker

I am yet to click the submit button, I entered the interest only 12 month amount in the 'Residential property finance costs: (optional)' section but this doesn't seem to make a difference, or am I doing this wrong?

I have to admit, I am one who didn't it was an allowable expense now....
- Channel: Tax Questions
27-01-2022, 10:37 AM
Reply to Advice

by jhoggard

I actually sat down with an accountant firm. They did advice to own a seperate company per property. The main benefit here is
rather than selling the individual property out of the company sell the company although i've not seen this done before so not sure how successful this is? there a great...
- Channel: Tax Questions
27-01-2022, 09:02 AM
Advice

by jhoggard

Hi,

I currently have a property rented out in my own name with a fair bit of equity around 50% LTV this is actually a repayment mortgage which i'm looking to switchover to a interest only. When i do this i'm also taking money out of the property to put towards another which i'm looking...
- Channel: Tax Questions
20-01-2022, 14:25 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Thank you, I shall definitely discuss that point with regards to those items been used on the 2020/2021 assessment....
- Channel: Tax Questions
26-01-2022, 15:42 PM
HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Okay, I am self-employed / self assessment, totally messed up, my mistake, sold my property April 25th 2021, just realized today due to Google, that I should have registered the sale and paid the tax...

So hands up, I have done wrong...looking for some advice, currently around 8 months...
- Channel: Tax Questions
25-01-2022, 22:41 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by jpkeates

I'd let the accountant sort it out - their work will drop off after Monday's deadline.
Lots of these costs sound like they should have been in your 20/21 assessment, and it's possible that it might be sensible to correct that at the same time.
- Channel: Tax Questions
26-01-2022, 15:00 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Hi, Thank you for your reply, the bathroom, after the tenant had moved out was a complete mess, smashed tiles, leaks going down the walls into the kitchen below...the entire room was stripped, replastered, new bathroom suite, ceiling reskimmed, new materials used on the walls instead of tiles, better...
- Channel: Tax Questions
26-01-2022, 14:34 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by jpkeates

I'd suggest that you sit down with an accountant and a) take their advice on what can be claimed and what can't and b) let them work the issue through with HMRC.

Items like "a new bathroom" always worry me, because it normally doesn't mean a whole new room, it means an updated,...
- Channel: Tax Questions
26-01-2022, 13:17 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Thank you for your reply, based on my workings out above in my past post, I roughly worked out my fine including interest to be around £589.50, excluding interest would be £434.50. (if I have worked things out correctly)

When you detailed 19.5% penalty, roughly speaking would that mean,...
- Channel: Tax Questions
26-01-2022, 12:52 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

With regard to claiming against capital gains tax for the things from up to 24 years ago that I no longer have receipts for, such as fitting central heating, fees for buying the property (solicitor, survey costs, no stamp duty paid due to been below stamp duty level), I had a large area of the garden...
- Channel: Tax Questions
26-01-2022, 12:47 PM

Latest Topics