Tax Questions

Collapse

Forums Topics Posts Last Post
No forums found.
  •  
  • Filter
  • Time
  • Show
  • New Topics
Clear All
new posts
There are no conversations in this channel.
 
  • Filter
  • Time
  • Show
Clear All
new posts
Please log in to your account to view your subscribed posts.
  •  
  • Filter
  • Time
  • Show
  • Sort By
  • Order
Clear All
new posts
Topics Statistics Last Post
Started by joe, 18-07-2005, 12:28 PM
1 response
1,642 views
0 likes
Last Post Tax Accountant  
Started by Friston, 04-07-2005, 11:22 AM
15 responses
4,400 views
0 likes
Last Post Tax Accountant  
Started by Anthony, 07-07-2005, 15:17 PM
10 responses
3,832 views
0 likes
Last Post Tax Accountant  
Started by signbase, 14-07-2005, 20:40 PM
4 responses
1,903 views
0 likes
Last Post Tax Accountant  
Started by Giulia, 06-06-2005, 23:23 PM
5 responses
5,305 views
0 likes
Last Post Tax Accountant  
Started by RichieP, 05-07-2005, 14:01 PM
7 responses
2,463 views
0 likes
Last Post Tax Accountant  
Started by chriss, 29-06-2005, 16:40 PM
1 response
1,760 views
0 likes
Last Post Tax Accountant  
Started by Ron, 14-06-2005, 09:51 AM
1 response
2,139 views
0 likes
Last Post Tax Accountant  
Started by howard.kidd, 06-06-2005, 15:27 PM
1 response
3,581 views
0 likes
Last Post Tax Accountant  
Started by benji, 05-06-2005, 09:25 AM
1 response
2,108 views
0 likes
Last Post Tax Accountant  
No topics found.
banner

Latest Topics

Collapse

  • Tax implications on loan
    by PilGrim
    I'm hoping to buy a house in my name, it will be the only property I own. I can fund 75% of the purchase and my brother is lending me the 25%.

    I will live in the house & hope to rent 2 rooms to friends under 'Rent a Room Scheme' & receive rent under the £7,500 a year (IE not have...
    06-12-2021, 21:29 PM
  • Reply to Caught out by changes to Capital Gains Tax
    by theartfullodger
    You both need to inform HMRC within 30 days, declare all ££££ numbers then pay the CGT within 30 days. Strongly suggest a bot of speed to hopefully reduce fines & penalties.

    You're in the same position as someone speeding who tells us he didn't notice the 30mph sign. No defence....
    06-12-2021, 20:31 PM
  • Caught out by changes to Capital Gains Tax
    by reluctantlandlord1976
    I appreciate 'ignorance' is no excuse, however there are some mitigating factors, i.e. due to illness etc.

    1. Previous family home rented out - terrible tenants - left owing rent, bad repairs etc. [usual story for some] subsequently property not let for 2 years for a number of reasons while...
    06-12-2021, 13:51 PM
  • Reply to HPI out-pacing PRR accumulation
    by lllccc
    A nomination doesn't require a place to be your home. It doesn't even require you to be living there. Claiming PRR without a nomination does require you to be living there 'according to the facts'. This is clearly not the same thing. As for case law the only case law I can see related to nomination...
    06-12-2021, 18:52 PM
  • Reply to HPI out-pacing PRR accumulation
    by jpkeates
    I'm not conflating things, I'm summarising (not very well) the case law that HMRC (and courts and tribunals) are meant to rely on in determining whether somewhere is your home or not.

    In what circumstances would HMRC make an assessment of the facts where no nomination has been made....
    06-12-2021, 17:26 PM
  • HPI out-pacing PRR accumulation
    by lllccc
    I wondered if anyone else has been in this situation and what would you do about it? I now only own the one property (and live in it), but due to substantial renovation period before moving in the CGT will only increase now (assuming HPI increasing at 3.6% which is not unreasonable). I didn't understand...
    04-12-2021, 14:20 PM
  • Reply to HPI out-pacing PRR accumulation
    by lllccc
    I just realised there is an allowance for renovation, can be 1 year but can be extended up to 2 years in some circumstances. I guess I should investigate this:
    https://www.gov.uk/government/public...dence-relief-2...
    06-12-2021, 16:56 PM
  • Reply to HPI out-pacing PRR accumulation
    by lllccc
    OK, I don't think you got this quite right. I think you may be conflating two things:

    1) The burden of proof for a nomination
    2) HMRC's assessment of the facts as they present themselves where no nomination has been made.

    For 1) where your children go to school is irrelevant....
    06-12-2021, 16:53 PM
  • Reply to Caught out by changes to Capital Gains Tax
    by reluctantlandlord1976
    Thanks JP Keates for the comprehensive reply. I will try not to stress but it's not always that easy. I did let HMRC know the property wasn't being rented out so that took me out of the SA system - hence I didn't really pay attention to the lettings world and the sweeping changes passed me by as I...
    06-12-2021, 16:48 PM
  • Reply to Caught out by changes to Capital Gains Tax
    by jpkeates
    1 - You don't have to provide receipts unless challenged on the amounts by HMRC. They're usually not unreasonable about long ago costs, but they're more likely to push back if the claim looks odd. 1980's costs are unlikely to be too significant. But a professional would give proper advice.
    ...
    06-12-2021, 15:42 PM
Working...
X