Tax Questions

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Joint ownership tax implications by NickL Started by NickL, 23-11-2007, 17:38 PM	1 response 2,939 views 0 likes	Last Post by TaxationPete 23-11-2007, 21:23 PM
Tax On Pension Contributions by taheemr Started by taheemr, 22-11-2007, 18:59 PM	1 response 1,065 views 0 likes	Last Post by TaxationPete 23-11-2007, 12:08 PM
Tax on freehold purchase by poppy96 Started by poppy96, 09-11-2007, 10:56 AM	6 responses 7,500 views 0 likes	Last Post by poppy96 09-11-2007, 13:12 PM
Calculation of net rent taxable by taheemr Started by taheemr, 05-11-2007, 09:44 AM	4 responses 3,173 views 0 likes	Last Post by TaxationPete 05-11-2007, 17:16 PM
Renting rooms to lodgers- how is tax assessed? by patrickyuis Started by patrickyuis, 31-10-2007, 13:38 PM	3 responses 1,772 views 0 likes	Last Post by tenant29 04-11-2007, 11:15 AM
Capital or income expense by ah84 Started by ah84, 02-11-2007, 09:12 AM	2 responses 1,517 views 0 likes	Last Post by ah84 03-11-2007, 19:17 PM
Is tax relief available on two improvement expenses? by windy Started by windy, 31-10-2007, 18:45 PM	4 responses 1,541 views 0 likes	Last Post by windy 02-11-2007, 18:56 PM
March 1982 valuation by lawstudent Started by lawstudent, 02-11-2007, 07:36 AM	0 responses 1,209 views 0 likes	Last Post by lawstudent 02-11-2007, 07:36 AM
Three joint BTL funders- how to reduce CGT? by RayLondon Started by RayLondon, 30-10-2007, 19:20 PM	3 responses 1,080 views 0 likes	Last Post by TaxationPete 01-11-2007, 13:40 PM
Does he pay capital gains Tax? by cute boxer dog Started by cute boxer dog, 29-10-2007, 19:44 PM	3 responses 1,472 views 0 likes	Last Post by TaxationPete 01-11-2007, 13:35 PM

Sunday Times Report 7 Aug 2022 ( on Welsh holiday lets.)

by Gordon999

This report was about a retired solicitor living in Cardiff , with 2 holiday lets in Solva , Pembrokeshire. His properties only let for around 18 weeks a year but Welsh Government require 26 weeks letting to qualify for business rates. The increase in council tax to treble rate compared to rate...
- Channel: Tax Questions
13-08-2022, 17:22 PM
Reply to Giving/Gifting House to Kids

by gnvqsos

Did the labouring job jeopardise his position at Royal Mail? lt is strange no contingency fund was taken on holiday.. I don't think it makes sense to purchase, and insure/maintain a camper van to save on 7 days accommodation.The typical cost including depreciation exceeds £1500 pa...
- Channel: Tax Questions
13-08-2022, 14:54 PM
Giving/Gifting House to Kids

by Tony-Edwards

Elderly parents in early 80s, one in not so good health.

Lived in the same home (no mortgage etc) for 50+ years - now worth approx £180,000 - £200,000 and they have minimal savings.

Looking ahead, if one has to go into care (or council provided home care) I understand there...
- Channel: Tax Questions
11-08-2022, 11:12 AM
Reply to Expense Categories

by theartfullodger

The old saw was that you had 3 sets of accounts....
- one for yourself
- 2nd for tax man
- 3rd for wife/husband/partner
How does your chosen software handle this?...
- Channel: Tax Questions
13-08-2022, 12:14 PM
Expense Categories

by philrosenberg

I'm just in the process of buying my first property as a Ltd company and I have gotten FreeAgent accounting software free with my bank account.

I have a list of categories to assign to my expenses, but they aren't all that relevant to residential property businesses. I wondered if others...
- Channel: Tax Questions
13-08-2022, 10:53 AM
Reply to Higher rate LTT or not?

by AddictedMonster

Thank you very much. I appreciate the information.
- Channel: Tax Questions
13-08-2022, 12:04 PM
Higher rate LTT or not?

by AddictedMonster

Hi my partner and I are looking to sell one of our rentals and our residential property and buy a larger property.

I'm confused whether we will be charged the higher rate land transaction tax due to owning a third property that we own that will not be sold as of yet. It was our previous...
- Channel: Tax Questions
13-08-2022, 11:26 AM
Reply to Expense Categories

by AndrewDod

What you record for your own purposes is up to you, but for purposes of tax return, for just one property, and rent < 80K, can just pop it all into "Other expenses" - so long as you can resurrect it when HMRC audits you.

At least that applies to individual self assessment,...
- Channel: Tax Questions
13-08-2022, 11:57 AM
Reply to Giving/Gifting House to Kids

by Neelix

in the eyes of HMRC all this is completely irrelevant...
- Channel: Tax Questions
13-08-2022, 11:46 AM
Reply to Expense Categories

by Jon66

Most people I know use an excel spreadsheet.
- Channel: Tax Questions
13-08-2022, 11:39 AM

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