Tax Questions

		Statistics	Last Post
CGT on a shop used as part of my house? by deshg Started by deshg, 01-08-2006, 00:51 AM	5 responses 2,597 views 0 likes	Last Post by Tax Accountant 02-08-2006, 17:10 PM
cgt on hmo property by adam101 Started by adam101, 31-07-2006, 20:16 PM	1 response 1,464 views 0 likes	Last Post by Tax Accountant 01-08-2006, 10:07 AM
House into Flats - tax issue by djb Started by djb, 20-07-2006, 19:41 PM	5 responses 1,539 views 0 likes	Last Post by Tax Accountant 28-07-2006, 10:48 AM
First Posting: need help in CGT based on reply given to other user - HELP! by mharie Started by mharie, 26-07-2006, 16:03 PM	3 responses 1,464 views 0 likes	Last Post by Tax Accountant 27-07-2006, 09:21 AM
Owned for 12yrs. (first 7 as occupier too): how much CGT? by phil.knowles Started by phil.knowles, 18-07-2006, 16:16 PM	5 responses 5,318 views 0 likes	Last Post by Tax Accountant 26-07-2006, 18:03 PM
CGT- Sorry! by kensden Started by kensden, 20-07-2006, 06:15 AM	7 responses 1,956 views 0 likes	Last Post by Tax Accountant 26-07-2006, 17:48 PM
What tax deductions can L claim (e.g. wear and tear)? by kensden Started by kensden, 20-07-2006, 06:18 AM	6 responses 16,339 views 0 likes	Last Post by Tax Accountant 26-07-2006, 17:46 PM
Property sale loss versus rental income by johnjw Started by johnjw, 23-07-2006, 08:19 AM	5 responses 3,370 views 0 likes	Last Post by Tax Accountant 26-07-2006, 17:23 PM
Mixed use investment flat C. G. T & relief by kiran Started by kiran, 12-07-2006, 14:41 PM	3 responses 1,607 views 0 likes	Last Post by Tax Accountant 22-07-2006, 10:40 AM
Need Help From All You Off Plan Whizzes Out There by minniejessica Started by minniejessica, 18-07-2006, 16:11 PM	4 responses 1,494 views 0 likes	Last Post by minniejessica 20-07-2006, 14:16 PM

Reply to Any property tax experts you can recommend please?

by Trevor62

Thank-you for the link.

Well my issue is Tax & Assets.

Firstly, I am in the process of building a house in my side garden, when complete I will own two properties.

Will I have to pay stamp duty for the new build?

Because I am an old dad and my...
- Channel: Tax Questions
19-05-2022, 19:44 PM
Any property tax experts you can recommend please?

by mpppen

Hello,
We have a small BTL portolio of five properties. Some are in our personal names and the latter ones in a property company we set up a few years' ago when the tax rules changed.

I'd really like to find someone who can advise us of the best way of either bringing the personal...
- Channel: Tax Questions
03-03-2022, 20:00 PM
Reply to Capital Gains Tax dilemma

by Gordon999

You have owned the property for 38 years ( 1984 - 2022 ) and lived in the property for 22 Years ( 1984-2006 ) plus 16 years for letting..

The total capital gain over 38 years is apportioned between "residence period" ( exempt for cgt ) and "letting period" ( liable...
- Channel: Tax Questions
19-05-2022, 10:07 AM
Capital Gains Tax dilemma

by Ollyn

Hello

I am considering whether to sell my house which has been let for some time and need to see how I can best deal with CGT.

I lived in the property from 1984 until 2006.

From 2006 it has been occupied by tenants, now vacant and being renovated.

...
- Channel: Tax Questions
18-05-2022, 18:17 PM
Reply to Capital Gains Tax dilemma

by ash72

You should seek advice from an accountant, or a property tax for tailored advice to your specific circumstances, you may be entitled to some relief if the property at any time was your own principal residence.
- Channel: Tax Questions
18-05-2022, 21:14 PM
Reply to Capital Gains Tax dilemma

by theartfullodger

You declare (online) and pay CGT within 60 days of sale. Depending on the numbers I would expect you to pay CGT. What records do you have of applicable costs, etc?

What you pay will depend on what CGT rules when you sell - v unlikely to be better than today, possibly worse. Covid,...
- Channel: Tax Questions
18-05-2022, 18:29 PM
Reply to Tax Allowance on Rental Income.

by Gordon999

The property allowance is a tax exemption of up to £1,000 a year for individuals with income from land or property.

If you own a property jointly with others, you’re each eligible for the £1,000 allowance against your share of the gross rental income.

If your annual gross...
- Channel: Tax Questions
18-05-2022, 16:47 PM
Tax Allowance on Rental Income.

by banner257

Can anyone help please, if a rental property is owned by two people 50 50. Would each owner be allowed to claim tax relief of £1000 each, or will the allowance of £1000 be split 50 50.
Thanks
- Channel: Tax Questions
18-05-2022, 08:42 AM
Reply to Tax Allowance on Rental Income.

by jpkeates

It's £1,000 each.

Most landlords don't use this though, because it's rare for income from a rental property to be low enough to qualify,
- Channel: Tax Questions
18-05-2022, 09:59 AM
Consent to Let - do we still need to pay tax

by VIKKI99

Hi, For kids school - we need to let out our Own House and move to a rental property close to school.
The rental money I receive from my tenants is exactly same as rent I pay on my property where I am a tenant.
Question : Rental money I receive from Tenants - should it be considered as income...
- Channel: Tax Questions
18-05-2022, 01:07 AM

Latest Topics