Tax Questions

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cap gains? by Evergreen Started by Evergreen, 16-06-2010, 17:23 PM	3 responses 1,161 views 0 likes	Last Post by TaxationPete 16-06-2010, 20:24 PM
Holiday Let by Hampyman Started by Hampyman, 14-06-2010, 11:46 AM	17 responses 3,084 views 0 likes	Last Post by property mongrel 16-06-2010, 10:42 AM
Are legal fees of re-mortgaging tax-deductible? by Funkster1973 Started by Funkster1973, 30-05-2010, 09:01 AM	13 responses 4,004 views 0 likes	Last Post by Telometer 16-06-2010, 09:46 AM
Income paid into joint accounts by SALL Started by SALL, 16-06-2010, 08:07 AM	2 responses 2,631 views 0 likes	Last Post by Telometer 16-06-2010, 09:44 AM
Maintenance & Repairs by EngB1 Started by EngB1, 07-06-2010, 14:54 PM	8 responses 1,839 views 0 likes	Last Post by mind the gap 15-06-2010, 16:50 PM
CGT query by JamesTWD Started by JamesTWD, 27-05-2010, 14:07 PM	8 responses 2,216 views 0 likes	Last Post by Telometer 15-06-2010, 15:04 PM
expat cgt by Poolboy Started by Poolboy, 01-06-2010, 20:58 PM	4 responses 1,595 views 0 likes	Last Post by fletchj 15-06-2010, 14:23 PM
UK expat CGT - advice... by Elzo Started by Elzo, 13-06-2010, 07:51 AM	3 responses 1,850 views 0 likes	Last Post by TaxationPete 15-06-2010, 07:25 AM
CBT and returning to BTL by Striveprop Started by Striveprop, 13-06-2010, 08:08 AM	3 responses 829 views 0 likes	Last Post by TaxationPete 14-06-2010, 11:04 AM
Inherited second property council tax by cookiein7 Started by cookiein7, 13-06-2010, 16:17 PM	8 responses 3,655 views 0 likes	Last Post by cookiein7 14-06-2010, 07:33 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
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 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
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
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 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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