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Started by JDO, 30-10-2005, 13:20 PM
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Last Post Tax Accountant  
Started by molinari, 27-10-2005, 17:58 PM
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Last Post Tax Accountant  
Started by Elaine G, 13-10-2005, 09:50 AM
13 responses
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Last Post Tax Accountant  
Started by johnjw, 21-10-2005, 18:15 PM
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Last Post Tax Accountant  
Started by deandevy, 21-09-2005, 15:24 PM
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Last Post Tax Accountant  
Started by tonytonytony, 19-09-2005, 07:49 AM
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Last Post Tax Accountant  
Started by sl129, 19-10-2005, 10:36 AM
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Last Post Tax Accountant  
Started by muser, 08-10-2005, 22:46 PM
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Last Post Tax Accountant  
Started by supasap, 14-09-2005, 08:59 AM
16 responses
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Last Post Tax Accountant  
Started by Grange, 11-10-2005, 10:10 AM
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Last Post Joe Soap  
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  • 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
    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...
    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...
    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"...
    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...
    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 ....
    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...
    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....
    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...
    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...
    17-06-2021, 07:47 AM
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