Tax Questions

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Can a non-professional tenant be paid to do work on the property? by joeypoopiggy Started by joeypoopiggy, 13-01-2020, 10:03 AM	7 responses 85 views 0 likes	Last Post by joeypoopiggy 13-01-2020, 15:13 PM
Can a limited company be a benificiary in a will? by Mrmagicmonkey Started by Mrmagicmonkey, 11-01-2020, 03:39 AM	3 responses 230 views 0 likes	Last Post by Gordon999 13-01-2020, 13:00 PM
Private residence relief - cgt by LANDLADY43 Started by LANDLADY43, 12-01-2020, 15:09 PM	3 responses 58 views 0 likes	Last Post by Gordon999 13-01-2020, 12:20 PM
Tax on rental income profit - HMRC want to tax all my profit - sounds odd. by kensnake Started by kensnake, 12-01-2020, 21:04 PM	2 responses 139 views 0 likes	Last Post by Gordon999 13-01-2020, 11:44 AM
Second home SDLT - first property owned by Ltd Co by samg Started by samg, 09-01-2020, 18:58 PM	2 responses 64 views 0 likes	Last Post by samg 13-01-2020, 09:09 AM
removing name from deeds by Bill31 Started by Bill31, 04-12-2019, 14:11 PM	29 responses 323 views 0 likes	Last Post by Bill31 10-01-2020, 16:31 PM
Split ownership by Andrew S Started by Andrew S, 08-01-2020, 20:49 PM	2 responses 60 views 0 likes	Last Post by Andrew S 09-01-2020, 08:17 AM
SBRR on multiple holiday lets by Malgovert Started by Malgovert, 06-01-2020, 06:00 AM	3 responses 379 views 0 likes	Last Post by Gordon999 07-01-2020, 23:48 PM
Need advice by Jarek Started by Jarek, 07-01-2020, 11:47 AM	1 response 47 views 0 likes	Last Post by jpkeates 07-01-2020, 12:01 PM
Paying tax on rent by NDNUT Started by NDNUT, 04-01-2020, 17:17 PM	4 responses 206 views 0 likes	Last Post by NDNUT 05-01-2020, 12:40 PM

Reply to Capital Gains Tax - Quick Question

by VPatel2707

thank you - does she still need to complete the CGT section on the Self assessment given that she made a loss?...
- Channel: Tax Questions
18-01-2022, 18:17 PM
Reply to Capital Gains Tax - Quick Question

by JamesHopeful

Slightly aside from the question you asked, was the £70k sale price the full market value of the property, or did she sell at undervalue (e.g. to a family member)? If the latter then bear in mind that CGT is payable against the full market value, not the sale price. (I do appreciate that in parts of...
- Channel: Tax Questions
18-01-2022, 16:17 PM
Reply to HMRC - Current list of deliberate tax defaulters

by Goobs27

I never knew a list like this was in the public domain but I did chuckle when I saw The Tax Repayment Agency on there owing £44k!

I wonder if there is a similar list of the covid loan defaulters?
- Channel: Tax Questions
18-01-2022, 10:10 AM
Reply to HMRC - Current list of deliberate tax defaulters

by JK0

A government list of tax offenders? Sounds like something you'd expect to see in the newspapers in the Soviet Union. However, in view of the actions of the last two years, nothing this lot do would surprise me.
- Channel: Tax Questions
18-01-2022, 09:47 AM
Reply to Capital Gains Tax - Quick Question

by boletus

Carry forward the loss to offset against future capital gains. Include transaction costs.
- Channel: Tax Questions
18-01-2022, 09:33 AM
Reply to Likelihood of paying capital gains tax?

by DoricPixie

No, the gain is the total gain for the whole time you have owned the property no just since 2018....
- Channel: Tax Questions
18-01-2022, 09:32 AM
Reply to Capital Gains Tax - Quick Question

by VPatel2707

Thank you for your reply - no, none at all....
- Channel: Tax Questions
18-01-2022, 08:54 AM
Reply to Likelihood of paying capital gains tax?

by jtufty

Ah ok, so if CGT is only applicable from 2018 onwards, plus the 9 months, plus my CGT allowance of £12,300, its unlikely Ill have any CGT to pay. (As it currently stands,but may change next year)
Thanks...
- Channel: Tax Questions
18-01-2022, 07:08 AM
Reply to Likelihood of paying capital gains tax?

by DoricPixie

GCT is based on the total gain over the whole time you’ve owned the property. Under the current rules you’d get relief for the time it was your only or main residence plus the final 9 months of ownership. You also get an annual CGT allowance but as Artful says, who knows what the rules will be next...
- Channel: Tax Questions
17-01-2022, 21:53 PM
Capital Gains Tax - Quick Question

by VPatel2707

Hi All,

Wonder if someone can advise/guide me, please.

I am helping my Mum with her tax return. In November 2020, she sold one of her rental properties at £70,000.00. She purchased the Property for £73,000.00 in July 2006 and therefore made a loss.

Does she...
- Channel: Tax Questions
17-01-2022, 18:01 PM

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