Tax Questions

		Statistics	Last Post
Solicitors' fees on property transfer- deductible? by JDO Started by JDO, 30-10-2005, 13:20 PM	6 responses 3,000 views 0 likes	Last Post by Tax Accountant 01-11-2005, 18:35 PM
Inherited BTL- tax treatment? by molinari Started by molinari, 27-10-2005, 17:58 PM	3 responses 2,031 views 0 likes	Last Post by Tax Accountant 31-10-2005, 23:33 PM
Tax - Allowable expenses by Elaine G Started by Elaine G, 13-10-2005, 09:50 AM	13 responses 4,345 views 0 likes	Last Post by Tax Accountant 27-10-2005, 12:39 PM
Interest payments as allowable expenses(2) by johnjw Started by johnjw, 21-10-2005, 18:15 PM	7 responses 4,573 views 0 likes	Last Post by Tax Accountant 24-10-2005, 18:07 PM
Capital Gains Tax by deandevy Started by deandevy, 21-09-2005, 15:24 PM	7 responses 2,404 views 0 likes	Last Post by Tax Accountant 20-10-2005, 00:18 AM
Selling 2nd property to buy another by tonytonytony Started by tonytonytony, 19-09-2005, 07:49 AM	3 responses 2,406 views 0 likes	Last Post by Tax Accountant 20-10-2005, 00:14 AM
retirement home x buy to let x limited company by sl129 Started by sl129, 19-10-2005, 10:36 AM	4 responses 3,338 views 0 likes	Last Post by Tax Accountant 20-10-2005, 00:08 AM
Novice Investor - Ltd Company or Not? by muser Started by muser, 08-10-2005, 22:46 PM	9 responses 2,794 views 0 likes	Last Post by Tax Accountant 20-10-2005, 00:04 AM
CGT and holiday cottage by supasap Started by supasap, 14-09-2005, 08:59 AM	16 responses 4,183 views 0 likes	Last Post by Tax Accountant 18-10-2005, 23:03 PM
Development land tax by Grange Started by Grange, 11-10-2005, 10:10 AM	2 responses 3,262 views 0 likes	Last Post by Joe Soap 17-10-2005, 16:17 PM

Reply to Need CGT help or do i ned an accountant

by Sara2

I fail to see how i can notify hmrc that rental was terminated in 2019 whilt non paying tenant remained in the property until May 21
- Channel: Tax Questions
17-06-2021, 19:29 PM
Need CGT help or do i ned an accountant

by Sara2

Mother died in 2007 left house to me and my 2 sibs it was family home and i lived in it until 1985 when i had my own house. My brother also lived in house at point mum died and he remained there until 2010 when not being able to sell the property i purchased whole of property by buying brother and...
- Channel: Tax Questions
13-06-2021, 11:53 AM
Reply to Need CGT help or do i ned an accountant

by Gordon999

If you do not inform the Tax Office and just move back to live in the BTL property, the "rental business with tax losses" , can remain in existence for three years.

https://www.property-tax-portal.co.u...business.shtml

But the property owner can notify the Tax Office...
- Channel: Tax Questions
17-06-2021, 12:28 PM
Reply to IHT, CGT and Income tax avoidance

by jpkeates

But there's £750,000 mortgage lending to pay off when you die, so the "giving away" is more like a loan.

I'm not expecting anyone to pay 1p more tax than they should, but I find it's sometimes interesting to replace "the taxman" and "HMRC" with "we/us"...
- Channel: Tax Questions
17-06-2021, 09:38 AM
IHT, CGT and Income tax avoidance

by clairol

So I’ve been listening to some property investment seminars where the suggestion is to buy ‘good’ properties, regularly put the rent up and never sell them.
The advice is to keep them forever so you do not pay CGT; re-finance regularly and either enjoy the money or re-invest it; pay minimal...
- Channel: Tax Questions
16-06-2021, 16:40 PM
Reply to IHT, CGT and Income tax avoidance

by Section20z

Yes but people who do maths in your example could give the £750,000 away before death so beneficiaries get £400,000 extra and tax man loses ....
- Channel: Tax Questions
17-06-2021, 09:01 AM
Reply to IHT, CGT and Income tax avoidance

by jpkeates

It might be popular, but only to people who can't do maths.

It's only a tax effective policy in the same way that having no money when you die means you don't pay that much inheritance tax.

Ignoring the reliefs and personal thresholds for simplicity, if you die with a portfolio...
- Channel: Tax Questions
17-06-2021, 08:10 AM
Reply to Need CGT help or do i ned an accountant

by jpkeates

Surely the business continued (the rent was still owed, even if not paid) and the business continued until the disposal of the property (assuming it was the only property in the business).

Your interpretation is more appealing if it can be justified....
- Channel: Tax Questions
17-06-2021, 07:54 AM
Reply to Need CGT help or do i ned an accountant

by jpkeates

Whoever gave you that advice doesn't understand how CGT works.
You straight line the increase between purchase and disposal and you can deduct any time the property was your main residence (plus some additional months) as that period's gain is tax free.

Any valuation when you start...
- Channel: Tax Questions
17-06-2021, 07:52 AM
Reply to IHT, CGT and Income tax avoidance

by Section20z

I think the point being made is that landlords refinance to use the equity without selling and thus avoid CGT but it's perfectly legal and not necessarily depriving the state coffers as they might not otherwise sell .
Its long been touted as a good way for building a portfolio and frequently promoted...
- Channel: Tax Questions
17-06-2021, 07:47 AM

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