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Started by dotcotton999, 20-04-2018, 21:03 PM
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Started by RedHitman, 11-04-2018, 07:44 AM
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Started by AnthonyLHD, 21-04-2018, 06:52 AM
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Started by abc777uu, 16-04-2018, 16:34 PM
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Started by halfax, 16-04-2018, 11:32 AM
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Started by Landlorddp, 12-04-2018, 17:29 PM
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Started by trw, 10-04-2018, 18:25 PM
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Started by Landlorddp, 09-04-2018, 22:20 PM
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Started by Spam, 30-03-2018, 07:58 AM
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by g373
 
Started by paulinesmith, 09-04-2018, 17:51 PM
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  • Reply to Is changing carpets to laminate flooring tax deductible?
    by Lawcruncher
    Funny how fashions change. Fifty years ago having fitted carpet had a social cachet, now everyone wants laminate flooring. I know it looks nice, but so do carperts. It is fine in a conservatory with cane furniture, but it makes a lounge look clinical. It also increases your central heating costs.
    30-05-2020, 07:51 AM
  • Is changing carpets to laminate flooring tax deductible?
    by anqi_z
    Hello,

    Carpets in a let property has worn out and I am considering to replace it with laminate flooring.
    Could anyone advise if this will be tax deductible (assume this won't be considered as improvement)?


    Thank you....
    25-05-2020, 19:16 PM
  • Flipping a property
    by Gray
    My son and I are thinking of buying a property together and renovating it. We were intending to rent it out but now are thinking about just selling it again once work is finished. If we purchase property in three names (our’s and his partner’s), we would get three capital gains allowances is that...
    18-05-2020, 17:53 PM
  • Reply to Flipping a property
    by Gordon999
    Land Registry only allows 4 names maximum on the property title.

    If more than 4 names , you would need to register under company name and the members in the group become shareholders.

    The members can be shareholders with one £1 share each and the company borrows the funds...
    30-05-2020, 05:59 AM
  • Reply to Flipping a property
    by jpkeates
    If the property title was a joint tenancy, anyone not contributing to the purchase would have received the ownership as a gift and would be an owner as a matter of fact.
    29-05-2020, 16:26 PM
  • Reply to Is changing carpets to laminate flooring tax deductible?
    by jpkeates
    OK, that makes a lot more sense.

    The HMRC guidance is focussed on improvements like new rooms or new bathrooms rather than more mundane changes.

    I would probably focus equally on the amount of the difference rather than the ratio - £500 is neither here nor there for tax purposes,...
    29-05-2020, 16:16 PM
  • Reply to Flipping a property
    by Stew
    thanks - interesting reading
    29-05-2020, 15:32 PM
  • Reply to Flipping a property
    by TaxAntics
    A good question! I read the post as being a purchase between a father, son and their partner and so assumed they'd all have an equitable interest. A partnership arrangement could easily have a variable profit sharing ratio that wouldn't necessarily follow equitable interests with partners’ capital...
    29-05-2020, 15:22 PM
  • Reply to Flipping a property
    by Stew
    A question if I may (not that I am disposing or buying but just sparked a question),,, is it enough to purchase the property in three names or do three names actually have to put funds into it at the point of purchase?

    If a property were bought by ten members of a family and all on the...
    29-05-2020, 14:38 PM
  • Reply to Is changing carpets to laminate flooring tax deductible?
    by TaxAntics
    That depends on how you choose to interpet HMRC guidance:

    However, where the new item is not substantially of the same standard/quality as the old item, the deduction is equal to the lesser of:
    • the cost of the new item
    or
    • the cost that would have been incurred if the old item had essentially
    ...
    29-05-2020, 13:32 PM
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