Tax Questions

		Statistics	Last Post
If there is, what tax do I pay on main home if we sell? by Johnc2020 Started by Johnc2020, 04-03-2020, 16:15 PM	5 responses 72 views 0 likes	Last Post by jpkeates 05-03-2020, 17:54 PM
property income lower than tax return threshold - what details? by bowsden Started by bowsden, 01-03-2020, 16:26 PM	6 responses 95 views 0 likes	Last Post by bowsden 02-03-2020, 15:50 PM
Capital Gains Tax Change April 2020 by TREK Started by TREK, 26-02-2020, 18:47 PM	2 responses 154 views 1 like	Last Post by theartfullodger 27-02-2020, 10:07 AM
Withdrawing Funds when a Company owes Money to the Director by Jammy99 Started by Jammy99, 26-02-2020, 13:27 PM	1 response 35 views 0 likes	Last Post by jpkeates 26-02-2020, 15:24 PM
Reversing gift by vik2001 Started by vik2001, 24-02-2020, 20:22 PM	16 responses 142 views 0 likes	Last Post by vik2001 25-02-2020, 18:12 PM
Transferring BTL to my Wife by Ceerobbo Started by Ceerobbo, 22-02-2020, 06:03 AM	3 responses 99 views 0 likes	Last Post by Ceerobbo 23-02-2020, 20:27 PM
About to become a first time landlord by lyons Started by lyons, 20-02-2020, 23:03 PM	5 responses 139 views 0 likes	Last Post by jpkeates 22-02-2020, 08:59 AM
Tax advice on soon to be LTB which is my home by Advice seeker Started by Advice seeker, 09-02-2020, 18:37 PM	15 responses 159 views 0 likes	Last Post by jpkeates 20-02-2020, 17:14 PM
Voluntary removal of one Joint Owner in a BTL house by Andy1980 Started by Andy1980, 19-02-2020, 14:50 PM	4 responses 42 views 0 likes	Last Post by jpkeates 20-02-2020, 09:36 AM
Is this allowed? Change % income for joint ownership year on year by bhodgkiss Started by bhodgkiss, 16-02-2020, 14:00 PM	12 responses 97 views 0 likes	Last Post by jpkeates 17-02-2020, 13:02 PM

Reply to Rent aroom property relief.

by Gordon999

The rent-a-room scheme (rent below £7500 ) applies to a room in your own home.

https://www.gov.uk/government/public...-a-room-scheme
- Channel: Tax Questions
06-04-2020, 19:50 PM
Rent aroom property relief.

by calista

Hi Qick Q i cant find the answer online..

Can i claim rent a room relief on a rent of 300pounds a month at my first property where I live. 3600 a year.

I rent a second property 1200 pcm, where I do not live and would not claim the rent a room relief- or rather i pay tax normally...
- Channel: Tax Questions
31-03-2020, 12:10 PM
Reply to Selling part share

by Gordon999

There is no cgt to pay.on the capital gain after sale of your own residence.

IHT charged on a deceased person's estate starts above £325K threshold, and is charged at 40% rate.

The 50% share of residence gifted 5 years ago, if counted as part of your estate above £325K,...
- Channel: Tax Questions
06-04-2020, 19:37 PM
Selling part share

by Bill31

5 years ago i gifted part of my property to my son as joint tenants. We lived in the property together. So its possibly a grob.

Now we want to go our separate ways. Could he buy my share out so he owns the whole house. And i use the money to buy elsewhere. Could this introduce a IHT or...
- Channel: Tax Questions
31-03-2020, 13:41 PM
Reply to New tax rules 20/21

by Gordon999

I would suggest that you or your MP write a letter to the HMRC and Chancellor of the Exchequer asking for the new limits on PPR and LR to start from April 2021 due to the coronavirus lockdown.....
- Channel: Tax Questions
06-04-2020, 14:18 PM
New tax rules 20/21

by larry7

Hi,

I’m well aware of the new limits to private residence relief and that Lettings relief is being abolished from 20/21. We have therefore been working towards an exchange of the property we are selling before the end of the current tax year. Everything was set for it to happen until...
- Channel: Tax Questions
29-03-2020, 08:35 AM
Reply to Changing from Joint Tenants to Tenants in Common for a Declaration of Trust

by jpkeates

Can they do that with a 99% share of their" half"?
- Channel: Tax Questions
03-04-2020, 22:11 PM
Changing from Joint Tenants to Tenants in Common for a Declaration of Trust

by areynolds

Hello all,

I hope you're keeping safe and well during these strange times.

I'm looking for some advice in relation to changing from joint tenants to tenants in common. My brother and I currently hold a property that has no mortgage on it as joint tenants. We wish to put a declaration...
- Channel: Tax Questions
03-04-2020, 10:37 AM
Reply to Changing from Joint Tenants to Tenants in Common for a Declaration of Trust

by Lawcruncher

If

(a) you and your brother both wish to give your shares in the property to your respective wives so that they each hold half of the property as tenants-in-common; and

(b) you and your brother wish to continue to be the registered proprietors at the Land Registry,
...
- Channel: Tax Questions
03-04-2020, 20:23 PM
Reply to Changing from Joint Tenants to Tenants in Common for a Declaration of Trust

by jpkeates

No, I meant an actual company (a management company usually can't charge enough to make it worthwhile for tax before it stops being a credible arrangement.)

Anyway, I understand a bit more now, but I don't think I can see how you can do what you want - but then you have a proper tax advisor....
- Channel: Tax Questions
03-04-2020, 18:26 PM

Latest Topics