Tax Questions

		Statistics	Last Post
Minimising Capital Gains Tax by Henry248OG Started by Henry248OG, 16-11-2021, 14:17 PM	4 responses 110 views 0 likes	Last Post by Section20z 17-11-2021, 19:19 PM
CGT on sale of self-built annexe by BGT Started by BGT, 16-11-2021, 09:11 AM	10 responses 77 views 0 likes	Last Post by BGT 17-11-2021, 08:24 AM
CGT questions by armour Started by armour, 13-11-2021, 11:20 AM	8 responses 123 views 0 likes	Last Post by jpkeates 16-11-2021, 14:47 PM
CGT Accounts & Self Assement Submission by Piffy Started by Piffy, 15-11-2021, 12:53 PM	3 responses 58 views 0 likes	Last Post by Gordon999 15-11-2021, 15:08 PM
Avoiding ADT on BTL? by monikaewaj Started by monikaewaj, 12-11-2021, 22:40 PM	14 responses 149 views 0 likes	Last Post by monikaewaj 15-11-2021, 11:56 AM
Tax credit on interest payment by ncprop Started by ncprop, 05-11-2021, 16:36 PM	2 responses 57 views 0 likes	Last Post by Gordon999 14-11-2021, 09:47 AM
How do I know a tax advisor /accountant is authorised? by Flashback1966 Started by Flashback1966, 10-11-2021, 21:22 PM	1 response 42 views 0 likes	Last Post by Gordon999 12-11-2021, 17:08 PM
Renting to a friend at no profit by atthehelm Started by atthehelm, 10-11-2021, 09:20 AM	5 responses 130 views 0 likes	Last Post by jpkeates 10-11-2021, 14:11 PM
Rent-a-room scheme excess by SemiDetachedMoon Started by SemiDetachedMoon, 08-11-2021, 00:49 AM	3 responses 76 views 0 likes	Last Post by Gordon999 10-11-2021, 10:57 AM
Capital Gains relief for land devlopment by Steelen3b Started by Steelen3b, 31-10-2021, 16:56 PM	4 responses 80 views 0 likes	Last Post by Gordon999 07-11-2021, 10:18 AM

Reply to Where to enter tax paid?

by Advice seeker

I am yet to click the submit button, I entered the interest only 12 month amount in the 'Residential property finance costs: (optional)' section but this doesn't seem to make a difference, or am I doing this wrong?

I have to admit, I am one who didn't it was an allowable expense now....
- Channel: Tax Questions
27-01-2022, 10:37 AM
Advice

by jhoggard

Hi,

I currently have a property rented out in my own name with a fair bit of equity around 50% LTV this is actually a repayment mortgage which i'm looking to switchover to a interest only. When i do this i'm also taking money out of the property to put towards another which i'm looking...
- Channel: Tax Questions
20-01-2022, 14:25 PM
Reply to Advice

by jhoggard

I actually sat down with an accountant firm. They did advice to own a seperate company per property. The main benefit here is
rather than selling the individual property out of the company sell the company although i've not seen this done before so not sure how successful this is? there a great...
- Channel: Tax Questions
27-01-2022, 09:02 AM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Thank you, I shall definitely discuss that point with regards to those items been used on the 2020/2021 assessment....
- Channel: Tax Questions
26-01-2022, 15:42 PM
HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Okay, I am self-employed / self assessment, totally messed up, my mistake, sold my property April 25th 2021, just realized today due to Google, that I should have registered the sale and paid the tax...

So hands up, I have done wrong...looking for some advice, currently around 8 months...
- Channel: Tax Questions
25-01-2022, 22:41 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by jpkeates

I'd let the accountant sort it out - their work will drop off after Monday's deadline.
Lots of these costs sound like they should have been in your 20/21 assessment, and it's possible that it might be sensible to correct that at the same time.
- Channel: Tax Questions
26-01-2022, 15:00 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Hi, Thank you for your reply, the bathroom, after the tenant had moved out was a complete mess, smashed tiles, leaks going down the walls into the kitchen below...the entire room was stripped, replastered, new bathroom suite, ceiling reskimmed, new materials used on the walls instead of tiles, better...
- Channel: Tax Questions
26-01-2022, 14:34 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by jpkeates

I'd suggest that you sit down with an accountant and a) take their advice on what can be claimed and what can't and b) let them work the issue through with HMRC.

Items like "a new bathroom" always worry me, because it normally doesn't mean a whole new room, it means an updated,...
- Channel: Tax Questions
26-01-2022, 13:17 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

Thank you for your reply, based on my workings out above in my past post, I roughly worked out my fine including interest to be around £589.50, excluding interest would be £434.50. (if I have worked things out correctly)

When you detailed 19.5% penalty, roughly speaking would that mean,...
- Channel: Tax Questions
26-01-2022, 12:52 PM
Reply to HELP !!! I did not realise I had to register my captial gains tax within 30 days

by just wondering

With regard to claiming against capital gains tax for the things from up to 24 years ago that I no longer have receipts for, such as fitting central heating, fees for buying the property (solicitor, survey costs, no stamp duty paid due to been below stamp duty level), I had a large area of the garden...
- Channel: Tax Questions
26-01-2022, 12:47 PM

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