Tax Questions

		Statistics	Last Post
Claiming mortgage interest on your main residence by Roberto Started by Roberto, 23-05-2009, 14:06 PM	1 response 1,652 views 0 likes	Last Post by TaxationPete 02-06-2009, 11:02 AM
Working and Child Tax Credits by fancypants Started by fancypants, 31-05-2009, 17:33 PM	1 response 929 views 0 likes	Last Post by TaxationPete 31-05-2009, 18:01 PM
Capital GainsTax after 8 years? by sherry Started by sherry, 29-05-2009, 18:37 PM	11 responses 2,112 views 0 likes	Last Post by TaxationPete 30-05-2009, 23:34 PM
initial costs - taxation question by madmum Started by madmum, 28-05-2009, 16:15 PM	3 responses 1,574 views 0 likes	Last Post by Telometer 29-05-2009, 15:36 PM
Tax effect if I convert/split owner-occupied house by Hewster Started by Hewster, 20-05-2009, 20:29 PM	5 responses 961 views 0 likes	Last Post by Telometer 27-05-2009, 08:56 AM
Purchasing joint names - income tax by madmum Started by madmum, 20-05-2009, 21:09 PM	4 responses 1,104 views 0 likes	Last Post by TaxationPete 23-05-2009, 12:12 PM
SDLT, exemptions from tax, and disadvantaged areas by nstark15@hotmail.com Started by nstark15@hotmail.com, 21-05-2009, 10:46 AM	7 responses 2,075 views 0 likes	Last Post by Telometer 22-05-2009, 12:35 PM
Tax deductibility of initial costs of letting business by Clare2009 Started by Clare2009, 22-05-2009, 07:00 AM	1 response 1,030 views 0 likes	Last Post by Telometer 22-05-2009, 08:55 AM
CPO sale: is there any CGT liability on the gain? by halfax Started by halfax, 12-05-2009, 17:07 PM	5 responses 1,729 views 0 likes	Last Post by Irvin 22-05-2009, 01:38 AM
Tenancy in common- do its shares avoid/reduce CGT? by madmum Started by madmum, 21-05-2009, 13:15 PM	0 responses 871 views 0 likes	Last Post by madmum 21-05-2009, 13:15 PM

Reply to Capital Gains Tax Maze questions - clarification

by Gordon999

Its a good idea if you can persuade the tenant to move to your next property.

It means you can sell current property with vacant possession.
- Channel: Tax Questions
19-01-2022, 10:34 AM
Reply to Likelihood of paying capital gains tax?

by Gordon999

You have made a capital gain= £70K during 2011 to 2022 ( = 11 years approx )

Your own residence period (2011 to 2018 ) +9 months = 8 years approx.

your capital gain during own residence = £70K x 8/11 = £50K approx.( Nil cgt )

Your taxable capital gain (...
- Channel: Tax Questions
19-01-2022, 10:30 AM
Reply to Capital Gains Tax - Quick Question

by VPatel2707

thank you - does she still need to complete the CGT section on the Self assessment given that she made a loss?...
- Channel: Tax Questions
18-01-2022, 18:17 PM
Reply to Capital Gains Tax - Quick Question

by JamesHopeful

Slightly aside from the question you asked, was the £70k sale price the full market value of the property, or did she sell at undervalue (e.g. to a family member)? If the latter then bear in mind that CGT is payable against the full market value, not the sale price. (I do appreciate that in parts of...
- Channel: Tax Questions
18-01-2022, 16:17 PM
Reply to HMRC - Current list of deliberate tax defaulters

by Goobs27

I never knew a list like this was in the public domain but I did chuckle when I saw The Tax Repayment Agency on there owing £44k!

I wonder if there is a similar list of the covid loan defaulters?
- Channel: Tax Questions
18-01-2022, 10:10 AM
Reply to HMRC - Current list of deliberate tax defaulters

by JK0

A government list of tax offenders? Sounds like something you'd expect to see in the newspapers in the Soviet Union. However, in view of the actions of the last two years, nothing this lot do would surprise me.
- Channel: Tax Questions
18-01-2022, 09:47 AM
Reply to Capital Gains Tax - Quick Question

by boletus

Carry forward the loss to offset against future capital gains. Include transaction costs.
- Channel: Tax Questions
18-01-2022, 09:33 AM
Reply to Likelihood of paying capital gains tax?

by DoricPixie

No, the gain is the total gain for the whole time you have owned the property no just since 2018....
- Channel: Tax Questions
18-01-2022, 09:32 AM
Reply to Capital Gains Tax - Quick Question

by VPatel2707

Thank you for your reply - no, none at all....
- Channel: Tax Questions
18-01-2022, 08:54 AM
Reply to Likelihood of paying capital gains tax?

by jtufty

Ah ok, so if CGT is only applicable from 2018 onwards, plus the 9 months, plus my CGT allowance of £12,300, its unlikely Ill have any CGT to pay. (As it currently stands,but may change next year)
Thanks...
- Channel: Tax Questions
18-01-2022, 07:08 AM

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