Tax Questions

		Statistics	Last Post
Accountant by Bridge2020 Started by Bridge2020, 04-03-2021, 10:25 AM	4 responses 82 views 0 likes	Last Post by Gordon999 07-03-2021, 05:05 AM
1st time BTL advice by helloyou Started by helloyou, 06-03-2021, 10:37 AM	4 responses 65 views 0 likes	Last Post by helloyou 06-03-2021, 22:16 PM
Transfer to wife by jase222 Started by jase222, 06-03-2021, 13:31 PM	3 responses 70 views 0 likes	Last Post by Kape65 06-03-2021, 21:03 PM
CGT Booboo by jessa46 Started by jessa46, 05-03-2021, 16:19 PM	5 responses 81 views 0 likes	Last Post by Gordon999 05-03-2021, 22:41 PM
Can I Reduce 3% Stamp Duty Surcharge by selling home to my own Ltd by DaddyofTwo Started by DaddyofTwo, 22-02-2021, 14:42 PM	4 responses 133 views 0 likes	Last Post by DaddyofTwo 04-03-2021, 23:41 PM
Tax for renew lease by jimmylau8080 Started by jimmylau8080, 28-02-2021, 10:50 AM	3 responses 72 views 0 likes	Last Post by Gordon999 03-03-2021, 12:38 PM
Deed of trust for tax efficiency by ThePalmist Started by ThePalmist, 12-10-2020, 17:33 PM	28 responses 590 views 0 likes	Last Post by ThePalmist 01-03-2021, 19:06 PM
CGT Sense check (& Question re. having earlier re-mortaged on my own home) by Makgav Started by Makgav, 04-01-2021, 21:47 PM	5 responses 121 views 0 likes	Last Post by Gordon999 01-03-2021, 13:54 PM
Reducing tax liability question. by 1600e Started by 1600e, 28-02-2021, 15:31 PM	3 responses 86 views 0 likes	Last Post by jpkeates 01-03-2021, 11:09 AM
Default Property Sale - CGT - Non resident Tax Payer by ChloeRadshaw Started by ChloeRadshaw, 05-11-2020, 16:46 PM	26 responses 306 views 0 likes	Last Post by Neelix 28-02-2021, 16:29 PM

Reply to Let Property Campaign advice

by Gordon999

1. I think the rental income of £350 per month comes to £4200 per year.

In 2009, the Personal Allowance was around £6500 before starting to tax on the rental income.

So unlikely for Tax Office to be interested in mum's non-declaration of rental income £4200 which ...
- Channel: Tax Questions
08-05-2021, 00:56 AM
Let Property Campaign advice

by Zackisback878

Hi All

I am new to the forum and looking for some advice on the above.

In 2009 my parents bought me a property to live in using an interest only mortgage (this however was against their residential home and not the one they bought for me). I lived in this property rent free...
- Channel: Tax Questions
05-05-2021, 14:01 PM
Stamp duty payable on transfer of equity of a mortgaged property?

by Snowynight

Hi all,

I own a property in my sole name and am currently completing a remortgage and transfer of equity to my partner with an unequal split. We'll submit the Form 17 alongside a Declaration of Trust to HMRC after the completion.

As it is a mortgaged property, although I'm...
- Channel: Tax Questions
05-05-2021, 17:48 PM
Reply to Stamp duty payable on transfer of equity of a mortgaged property?

by Gordon999

The rules for paying SDLT on transfers solely between spouses living together state :

From 22 November 2017, the higher rates rules disregard transactions solely involving the transfer of interests between spouses or civil partners while they are treated as living together on the date...
- Channel: Tax Questions
07-05-2021, 23:39 PM
Self assessment, mortgage interest - where does it go on the return now?

by davebhoy

Hi

Im doing a provisional self assessment tax return for 2021 so I can calculate what I can reduce my July payment on account to.

I can't find anywhere to put the mortgage interest payments. I remember there used to be a box the interest payments that were part of the allowance...
- Channel: Tax Questions
07-05-2021, 18:47 PM
Reply to Self assessment, mortgage interest - where does it go on the return now?

by Gordon999

Send a letter to the Tax Office to explain reason why you intend to reduce the July 2021 tax payment.
- Channel: Tax Questions
07-05-2021, 22:57 PM
Reply to Stamp duty payable on transfer of equity of a mortgaged property?

by Snowynight

Hm ok, thanks. My solicitor's argument was "We do not consider the existing mortgage to be taken as consideration for the transaction as Land Registry have previously advised us this is not a requirement, and as there is no actual money changing hands, the consideration should be taken as zero."...
- Channel: Tax Questions
07-05-2021, 22:26 PM
Reply to Stamp duty payable on transfer of equity of a mortgaged property?

by jpkeates

Yes.

Essentially your wife joining the mortgage means that this isn't a gift, it's a sale at 50% of the value of the mortgage for SDLT purposes....
- Channel: Tax Questions
07-05-2021, 16:51 PM
Reply to Stamp duty payable on transfer of equity of a mortgaged property?

by Snowynight

Thanks for the reply!

We are having a remortgage so my wife's name is added to the mortgage too, but I'll be the one who continues to pay the mortgage (with my account). Does this still mean a transfer of mortgage or not?...
- Channel: Tax Questions
07-05-2021, 14:36 PM
Reply to Stamp duty payable on transfer of equity of a mortgaged property?

by Snowynight

Yes, we are married....
- Channel: Tax Questions
07-05-2021, 14:34 PM

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