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Started by benji, 05-06-2005, 09:25 AM
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Last Post Tax Accountant  
Started by Friston, 09-05-2005, 13:48 PM
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Last Post Tax Accountant  
Started by trio, 05-02-2005, 15:53 PM
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Started by bbjjcc, 15-02-2005, 17:21 PM
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Last Post Tax Accountant  
Started by JDO, 19-02-2005, 13:46 PM
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Last Post Tax Accountant  
Started by MrWoof, 06-04-2005, 08:44 AM
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Last Post Tax Accountant  
Started by josswallace, 11-05-2005, 16:33 PM
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Last Post Tax Accountant  
Started by ctfrancis, 13-05-2005, 11:45 AM
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Last Post Tax Accountant  
Started by nma, 24-02-2005, 12:43 PM
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Started by JAS, 23-02-2005, 22:40 PM
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Last Post Tax Accountant  
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  • Tax question. relief for finance costs reduced to maximum allowable
    by jackboy
    Hi,

    Quick question for my tax return. My mortgage interest costs this year were £67,710.19 so £16,667.55 went through as a deduction and £50k odd went into the box to calculate the relief for finance costs. But instead of calculating 20% on the £50k it has reduced this to the maximum...
    27-02-2021, 14:34 PM
  • Reply to Tax question. relief for finance costs reduced to maximum allowable
    by Gordon999
    You can write to hmrc and ask for a statement showing how they calculated your tax ( on form SA302 ).
    28-02-2021, 03:17 AM
  • Reply to Tax question. relief for finance costs reduced to maximum allowable
    by jackboy
    Hardly, the stamp duty tax was eye watering and the other expenses involved including remortgaging costs, solicitors fee, tax advice etc etc amounted to a large expense but it was teh only way forward if i wanted to expand. The personal borrowing restrictions that apply to individuals don't apply to...
    27-02-2021, 15:22 PM
  • Reply to Tax question. relief for finance costs reduced to maximum allowable
    by theartfullodger
    Was incorporation solely for tax reasons?
    27-02-2021, 15:13 PM
  • Reply to Tax question. relief for finance costs reduced to maximum allowable
    by jackboy
    Just to add a bit more info. I've recently incorporated all my properties. Instead of paying a punitive tax bill I chose to spend money on refurbishments effectively reducing my profit to zero. I did this as i basically got a 40% discount on any refurbishment work and then transferred everything over...
    27-02-2021, 14:44 PM
  • spreadsheet
    by Jase2222
    Every tax year i give my accountant a list of rental income ,letting agent statements and receipts but recently he said could he have it all on a spreadsheet so it easier for him.

    Has anyone got a example of a spreadsheet layout or any ideal of where to get one? ive put landlord spreadsheet...
    27-02-2021, 08:46 AM
  • Reply to spreadsheet
    by Gordon999
    Your accountant should provide you with a sample spreadsheet to suit his system.

    For my own use , I have a separate spreadsheet for each property and "column headings" ( left to right ) are shown below :

    1. Date ( entries going down )
    2. Monthly Rent income...
    27-02-2021, 09:44 AM
  • Reply to spreadsheet
    by Neelix
    12 "month columns" plus 1 column for what it is eg rental income
    as many lines as needed (1 per type of expense)

    totals per month and per line and checks the totals agree

    income first

    out goings next

    not too tricky

    ??...
    27-02-2021, 09:37 AM
  • Reply to spreadsheet
    by Mrs Mug
    I also just hand all my receipts etc over to my accountant. If I had to go to the trouble of entering everything into a spreadsheet, or entering things online, then I might as well do the tax return myself.

    The whole point of using the accountant, is that it is one less thing for me to...
    27-02-2021, 09:26 AM
  • paying yourself to manage your own properties
    by MarvinMin
    Morning. Hi folks i'm new to all this and am wondering if what I'm going to propose is a done thing in the industry...I have a ltd company (a consultancy) and I have a couple of privately owned properties that I am thinking of renting out. Is it possible to take my rental income privately and then...
    16-02-2021, 12:45 PM
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