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Started by Trading1, 12-05-2019, 20:28 PM
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Started by xeel, 26-01-2019, 09:23 AM
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by Big_T
 
Started by Cameron9988, 02-05-2019, 09:04 AM
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  • Reply to Travel expenses
    by AndrewDod
    As far as I am concerned the advice you are reading is bull. You can claim all mileage. A rental property is not your regular place of work which applies to fixed PAYE jobs. A freelance teacher who travels to the homes of various students can claim all the costs of her travel. It's a cost....
    28-02-2021, 14:41 PM
  • Travel expenses
    by shoobydoo
    I may be misunderstanding this Hamilton Fraser guide (see excerpt below) but are self-employed landlords allowed to claim travel expenses or not? Thanks.

    "A self-employed landlord can claim some of these – the costs of travel with your own vehicle and working from home – using ‘simplified...
    28-02-2021, 13:08 PM
  • Reply to Travel expenses
    by shoobydoo
    So I cannot claim mileage for doing quarterly inspections or annual gas safety certificates etc as these would be considered "predictable" but diy is ok because it is unpredictable in nature?
    28-02-2021, 14:13 PM
  • Reply to Travel expenses
    by Gordon999
    If you do diy repairs to your BTL property, you can claim mileage allowance for using car to take tools and repair materials to the property or to visit property to change the door lock or check new keys are cut correctly.
    28-02-2021, 13:29 PM
  • Reply to Default Property Sale - CGT - Non resident Tax Payer
    by Gordon999
    The tax rules could change before 2025 because the Chancellor has urgent need to raise tax revenue to cover Covid -19 epidemic costs and an estimated £300 Bil deficit. You should expect capital gains tax rates to be higher in future.

    If your capital gain is low say £20K , you would...
    28-02-2021, 13:21 PM
  • Default Property Sale - CGT - Non resident Tax Payer
    by ChloeRadshaw
    This thread will try to understand better the rules around property disposal for non UK tax payers.

    Background:
    Property bought in 2006 for 240K - Now worth 500K. I am non tax resident in the UK and this has always been a BTL rented out

    Problem
    I have 260K CGT
    ...
    05-11-2020, 16:46 PM
  • Tax for renew lease
    by jimmylau8080
    I going to receive my new 999-year lease with no ground rent payable is given to the leaseholder, after I paid around £7,000 to extend my current flat from 89 years lease to a 999-year lease with no ground rent payable.

    I received a piece of advice that there are income tax implications....
    28-02-2021, 10:50 AM
  • Reply to Tax for renew lease
    by jimmylau8080
    The freehold company was owned by a pension investment company. After we purchased it, they will transfer our share of the freehold to all flat owners (Half of us, including me, have this as a private resident). According to them, we need to pay because we are freeholders now. Isn't correct?...
    28-02-2021, 11:56 AM
  • Reply to Tax for renew lease
    by Gordon999
    Who owns the freehold company ? The company may have to pay company tax on the £7000 sale received from you. You have not received a £7000 dividend from the freehold company.

    You have liability to pay income tax on your annual income and capital gains tax after sale of your asset....
    28-02-2021, 11:29 AM
  • 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
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