Tax Questions

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Capital Gains Letting Relief - Drrr... help! by Token Started by Token, 13-04-2011, 21:43 PM	4 responses 2,116 views 0 likes	Last Post by TaxationPete 16-04-2011, 09:15 AM
Higher Tax Rate - Can we avoid it by Token Started by Token, 12-04-2011, 19:38 PM	8 responses 2,465 views 0 likes	Last Post by Token 15-04-2011, 15:57 PM
Who does expenses/bank account/tax return run when wife is 99% beenficial owner? by Chaulden Started by Chaulden, 03-04-2011, 17:30 PM	3 responses 1,106 views 0 likes	Last Post by King_Maker 15-04-2011, 09:26 AM
CGT help please by bigdunc Started by bigdunc, 14-04-2011, 14:21 PM	3 responses 671 views 0 likes	Last Post by TaxationPete 15-04-2011, 08:04 AM
CGT payable on what is now my main home? by gainsay Started by gainsay, 13-04-2011, 21:42 PM	3 responses 1,699 views 0 likes	Last Post by gainsay 14-04-2011, 21:34 PM
Inheritance Tax Property Company by WarwickGrad Started by WarwickGrad, 04-04-2011, 10:06 AM	7 responses 3,487 views 0 likes	Last Post by Gordon999 14-04-2011, 18:09 PM
Building repair work as an allowable expense by IronsE11 Started by IronsE11, 14-04-2011, 13:49 PM	2 responses 1,468 views 0 likes	Last Post by IronsE11 14-04-2011, 15:22 PM
Beneficial interest, CGT and Property Companies by Tmaker Started by Tmaker, 12-04-2011, 19:53 PM	12 responses 4,592 views 0 likes	Last Post by Telometer 14-04-2011, 13:48 PM
Relief in transferring property to a company by Tmaker Started by Tmaker, 13-04-2011, 01:15 AM	10 responses 7,959 views 0 likes	Last Post by Phlash 13-04-2011, 17:52 PM
Rental Income allowed before being taxed... by jmh Started by jmh, 13-04-2011, 13:06 PM	3 responses 2,155 views 0 likes	Last Post by TaxationPete 13-04-2011, 13:44 PM

Reply to Is it an allowable expense or capital expense

by AndrewDod

Can't see any reason this would be an insured event. Agree it is not a capital expense at all....
- Channel: Tax Questions
25-05-2022, 09:25 AM
Reply to Is it an allowable expense or capital expense

by Another Fine Mess

If you dont mind me suggesting, If your Insurance Company is rejecting your claim you could get in touch with a Chartered Loss Assessor who would argue with the Insurance Company Loss Adjuster, its worth a phone call to one.
- Channel: Tax Questions
24-05-2022, 16:30 PM
Is it an allowable expense or capital expense

by shipboard

I rent out a single property, during the winter storms the brickwork was damaged and the cheapest option to repair it was to render the Gable end and rear of the property. I tried to claim on the insurance but they maintained it was due to wear and tear, I am of course disputing this. My question is...
- Channel: Tax Questions
24-05-2022, 10:04 AM
Reply to Is it an allowable expense or capital expense

by gnvqsos

I think the insurance company were right-the render must have been distressed to suffer storm damage. You can offset cost against income.
- Channel: Tax Questions
24-05-2022, 14:36 PM
Reply to CGT query

by Gordon999

Hmrc rules allow transfers between spouses without cgt. The recipient spouse takes on the asset at the original purchase price.
- Channel: Tax Questions
24-05-2022, 11:16 AM
Reply to Is it an allowable expense or capital expense

by Gordon999

I agree with jpk : it is a maintenance expense which is claimed against rental income....
- Channel: Tax Questions
24-05-2022, 11:12 AM
Reply to Is it an allowable expense or capital expense

by jpkeates

I'd say that's a maintenance cost and would be allowed against income.
It would affect the value of the property, but only to restore it to the level that it was at prior to the damage (plus the general positive effect of any large maintenance work).
- Channel: Tax Questions
24-05-2022, 10:53 AM
CGT query

by vik238754

Hello. Since 2013 my wife and I own a property as tenants in common where the beneficial interest split is 90% her and 10% me. We are now looking to sell the property. I have a large CGT loss and using the HMRC CGT calculator I have calculated that if I change the split to 70% me and 30% my wife...
- Channel: Tax Questions
23-05-2022, 19:37 PM
Reply to CGT query

by jpkeates

What you are planning to do is routine and HMRC will accept the change as a matter of routine admin.
- Channel: Tax Questions
24-05-2022, 09:13 AM
Any property tax experts you can recommend please?

by mpppen

Hello,
We have a small BTL portolio of five properties. Some are in our personal names and the latter ones in a property company we set up a few years' ago when the tax rules changed.

I'd really like to find someone who can advise us of the best way of either bringing the personal...
- Channel: Tax Questions
03-03-2022, 20:00 PM

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