Tax Questions

		Statistics	Last Post
Buy to let Ltd Company Question by RG_1978 Started by RG_1978, 28-06-2020, 16:30 PM	1 response 54 views 0 likes	Last Post by Logical.Lean 02-07-2020, 08:08 AM
Moving Back Into Let House by Sentaiwarrior Started by Sentaiwarrior, 05-06-2020, 20:16 PM	3 responses 115 views 0 likes	Last Post by Sentaiwarrior 26-06-2020, 20:45 PM
Capital Gains Tax on only property owned, let out by xingpot Started by xingpot, 22-06-2020, 15:46 PM	16 responses 232 views 0 likes	Last Post by AndrewDod 23-06-2020, 21:49 PM
Adding fiance to deed whilst concerting from residential to buy-to let by paulanddace Started by paulanddace, 20-06-2020, 18:16 PM	3 responses 43 views 0 likes	Last Post by Gordon999 21-06-2020, 16:15 PM
Higher rate SDLT when moving hosue by reigate Started by reigate, 19-06-2020, 12:48 PM	5 responses 50 views 0 likes	Last Post by AndrewDod 20-06-2020, 10:35 AM
BTL interest not allowed as expense on equity release portion? by leasee123 Started by leasee123, 10-06-2020, 18:41 PM	11 responses 144 views 0 likes	Last Post by Gordon999 18-06-2020, 11:08 AM
BTL expenses for Tax Return by leasee123 Started by leasee123, 17-06-2020, 12:29 PM	7 responses 115 views 0 likes	Last Post by AndrewDod 18-06-2020, 10:36 AM
Interest only mortgage - tax relief for limited company by knk.SnD Started by knk.SnD, 17-06-2020, 09:16 AM	5 responses 58 views 0 likes	Last Post by jpkeates 17-06-2020, 12:07 PM
Sell my small garden to my limited company by yanyan Started by yanyan, 27-05-2020, 15:32 PM	9 responses 124 views 0 likes	Last Post by lond2020 17-06-2020, 08:39 AM
Where is the 75% mortgage tax credit and adjusted loss for next year? by BTL investor Started by BTL investor, 12-06-2020, 20:15 PM	18 responses 211 views 0 likes	Last Post by BTL investor 15-06-2020, 14:40 PM

Reply to Self assessement questions

by Gordon999

The lodger allowance is £7500 p.a and not required to report in tax return.
- Channel: Tax Questions
08-08-2020, 19:16 PM
Self assessement questions

by Logical.Lean

I'm just doing my wife and my self assessment.

We own a property together in the a 90/10 % split.

The first question online is whether my income from property is greater than £1000.

No.

I've itemized all costs and interest etc on a spreadsheet...
- Channel: Tax Questions
08-08-2020, 15:44 PM
Reply to CGT evidence

by Gordon999

Did you really pay out £40K in cash to tradesmen who gave no receipts ?

If you just claim the costs for which you have receipts, the capital gain achieved during the rental period = 50% of the total capital gain. What does this figure come to ? .
- Channel: Tax Questions
08-08-2020, 19:07 PM
CGT evidence

by PaulRs1

Hi All,

I’m an accidental landlord and about to sell the house. Lived in it for 4 years and rented it out for 6 (with the intention of moving back, which never happened)

im aware I need to pay CGT and can claim improvement costs, I basically bought a wreck and renovated it...
- Channel: Tax Questions
08-08-2020, 13:25 PM
Reply to CGT evidence

by Section20z

HMRC will require no evidence unless they decide to investigate in which case guesswork will be insufficient....
- Channel: Tax Questions
08-08-2020, 17:34 PM
Reply to CGT evidence

by theartfullodger

Accidentally signed an AST?

No receipts so what would you do if you need to get supplier/contractor back due to bad work? Was this cash in claw?

Surely at least bank statements or credit card records of expenditure? Can you get confirmation from suppliers? They must have ...
- Channel: Tax Questions
08-08-2020, 17:01 PM
Reply to First time self assessment calculation before submittnig?

by Advice seeker

I am almost there with my figures now. Works out about 9k odd, plus 10% penalty and there is interest :/ so am hoping 10k roughly.

Would be interested in your opinions actually as a business model or whatever you want to call it...

Over the eleven years since I started the...
- Channel: Tax Questions
08-08-2020, 16:25 PM
First time self assessment calculation before submittnig?

by Advice seeker

Hi all

This might be a simple one, or not.

Can someone please advise if this seems correct?

For 2019-2020 I have the following on the HMRC form:

£9715 income
£2558 total allowable expenses

Profit £7517

I believe mortgage...
- Channel: Tax Questions
15-07-2020, 20:04 PM
Reply to Tax to Pay on Lease Extension

by jpkeates

flyingfreehold I didn't know that - thanks...
- Channel: Tax Questions
08-08-2020, 11:39 AM
Tax to Pay on Lease Extension

by divadee

Myself and partner own the freehold to the building we live in, this is in the form of a limited company. We were accidental freeholders as the previous freeholder wanted to sell and no one else living here wanted to buy it so we bought it to have some control over the service charges etc....
...
- Channel: Tax Questions
07-08-2020, 09:48 AM

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