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Started by minniejessica, 18-07-2006, 16:11 PM
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Started by Catamong, 12-07-2006, 12:38 PM
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by Grange
 
Started by TiTiH, 24-06-2006, 07:11 AM
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Last Post Tax Accountant  
Started by Kellis, 19-06-2006, 11:02 AM
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Started by tonywooding, 11-07-2006, 12:24 PM
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Started by tonywooding, 11-07-2006, 12:19 PM
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Started by silvercar, 02-07-2006, 18:04 PM
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Started by surreyLL, 22-06-2006, 21:52 PM
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Started by gearman333, 17-05-2006, 14:54 PM
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Started by msrx3sjj2, 20-06-2006, 04:38 AM
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  • Self Assessment Tax Return
    by max_co71
    A buy-to-let property has 50/50 ownership between A and B. Can the returns of this property be filed as100% under A's Self-Assessment Tax Return, and avoid the hassle of filing Self-Assessment Tax Return of B?
    16-09-2020, 17:33 PM
  • Reply to Self Assessment Tax Return
    by AndrewDod
    It is possible for people WHO ARE NOT MARRIED (marriage required a separate mechanism and actual beneficial ownership) to agree between themselves as to how rental income is shared (obviously expenses have to be shared in the same proportion).
    18-09-2020, 11:27 AM
  • CGT on inherited property
    by Lots on
    Just wondering how CGT is calculated. I inherited a property bought by my parents in the 80s. The value has multiplied by about 5. Do I pay CGT when I sell it based on:
    the difference in price between purchase and eventual sale price, or
    the difference in price between value at time of inheritance...
    18-09-2020, 10:01 AM
  • Reply to CGT on inherited property
    by AndrewDod
    It should be the same value declared on the probate before else HMRC might potentially query it. You might want to dig that out in preparation....
    18-09-2020, 11:17 AM
  • Reply to CGT on inherited property
    by jpkeates
    Yes - spot on.
    18-09-2020, 10:33 AM
  • Reply to CGT on inherited property
    by Lots on
    Thanks JP so it would start from the surveyors valuation for IHT and the calculation would use the difference between that value and the value at eventual sale time?
    18-09-2020, 10:14 AM
  • Reply to CGT on inherited property
    by jpkeates
    The inheritance is a CGT event - but if the property was your parent's residence, there would have been no CGT to pay.
    Your "gain" would start at the value agreed when you inherited, from the point you became the owner.
    18-09-2020, 10:10 AM
  • Reply to Personal residential property to Ltd
    by jpkeates
    Yes, selling the property is a trigger for CGT.
    If you've been living in it, CGT shouldn't be an issue, though.

    The company will pay the increased SDLT on the purchase (which is allowable against income for the company).

    There would be no CGT on the sale by the company,...
    17-09-2020, 15:35 PM
  • Personal residential property to Ltd
    by londonrulz
    I am about to move into newly purchased property. So was thinking of converting the older property to BTL.

    - Would I need to pay CGT, if I created a ltd company and sold to it?

    This way, I will get my additional SDLT(3%) back that I paid for my new property, and there would...
    17-09-2020, 15:23 PM
  • Reply to Double check - renovations deductible from CGT liability?
    by AndrewDod
    This is going around in an infinite loop (in both your threads). The wife's exclamation was already raised....
    17-09-2020, 10:53 AM
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