Tax Questions

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Jersey Bank interest on uk self-assessment form by royboy1 Started by royboy1, 19-11-2019, 05:29 AM	2 responses 69 views 0 likes	Last Post by royboy1 19-11-2019, 22:35 PM
Capital gains on selling House pre/post April 2020 by juwelkeeper Started by juwelkeeper, 16-11-2019, 05:38 AM	6 responses 244 views 0 likes	Last Post by juwelkeeper 19-11-2019, 19:43 PM
Cgt tax enquiry by Bill31 Started by Bill31, 15-11-2019, 21:10 PM	8 responses 222 views 0 likes	Last Post by jpkeates 19-11-2019, 14:15 PM
Is there any point in selling up and moving into 2nd home for the last 6 months? by Berkshire45 Started by Berkshire45, 18-11-2019, 07:37 AM	4 responses 108 views 0 likes	Last Post by jpkeates 19-11-2019, 09:29 AM
CGT sale of property and Form 17 by siara Started by siara, 15-11-2019, 12:17 PM	6 responses 159 views 0 likes	Last Post by Gordon999 19-11-2019, 03:41 AM
Should I have this document? by Cotton Started by Cotton, 08-11-2019, 13:37 PM	2 responses 84 views 0 likes	Last Post by Gordon999 18-11-2019, 13:14 PM
Why is this landlord selling up? by Flashback1966 Started by Flashback1966, 15-11-2019, 02:32 AM	3 responses 134 views 0 likes	Last Post by toys19 15-11-2019, 17:20 PM
Can I claim expenses incurred in repairing a property in preparation for letting it? by Rob H Started by Rob H, 14-11-2019, 17:07 PM	1 response 96 views 0 likes	Last Post by jpkeates 14-11-2019, 19:04 PM
SDLT / Mixed Use Query by Bilo Started by Bilo, 04-11-2019, 15:50 PM	2 responses 55 views 0 likes	Last Post by Bilo 09-11-2019, 11:09 AM
tax question on mortgage fees + broker fees by tommys Started by tommys, 09-11-2019, 10:11 AM	1 response 55 views 0 likes	Last Post by jpkeates 09-11-2019, 10:17 AM

Any property tax experts you can recommend please?

by mpppen

Hello,
We have a small BTL portolio of five properties. Some are in our personal names and the latter ones in a property company we set up a few years' ago when the tax rules changed.

I'd really like to find someone who can advise us of the best way of either bringing the personal...
- Channel: Tax Questions
03-03-2022, 20:00 PM
Reply to Any property tax experts you can recommend please?

by Trevor62

Thank-you for the link.

Well my issue is Tax & Assets.

Firstly, I am in the process of building a house in my side garden, when complete I will own two properties.

Will I have to pay stamp duty for the new build?

Because I am an old dad and my...
- Channel: Tax Questions
19-05-2022, 19:44 PM
Capital Gains Tax dilemma

by Ollyn

Hello

I am considering whether to sell my house which has been let for some time and need to see how I can best deal with CGT.

I lived in the property from 1984 until 2006.

From 2006 it has been occupied by tenants, now vacant and being renovated.

...
- Channel: Tax Questions
18-05-2022, 18:17 PM
Reply to Capital Gains Tax dilemma

by Gordon999

You have owned the property for 38 years ( 1984 - 2022 ) and lived in the property for 22 Years ( 1984-2006 ) plus 16 years for letting..

The total capital gain over 38 years is apportioned between "residence period" ( exempt for cgt ) and "letting period" ( liable...
- Channel: Tax Questions
19-05-2022, 10:07 AM
Reply to Capital Gains Tax dilemma

by ash72

You should seek advice from an accountant, or a property tax for tailored advice to your specific circumstances, you may be entitled to some relief if the property at any time was your own principal residence.
- Channel: Tax Questions
18-05-2022, 21:14 PM
Reply to Capital Gains Tax dilemma

by theartfullodger

You declare (online) and pay CGT within 60 days of sale. Depending on the numbers I would expect you to pay CGT. What records do you have of applicable costs, etc?

What you pay will depend on what CGT rules when you sell - v unlikely to be better than today, possibly worse. Covid,...
- Channel: Tax Questions
18-05-2022, 18:29 PM
Reply to Tax Allowance on Rental Income.

by Gordon999

The property allowance is a tax exemption of up to £1,000 a year for individuals with income from land or property.

If you own a property jointly with others, you’re each eligible for the £1,000 allowance against your share of the gross rental income.

If your annual gross...
- Channel: Tax Questions
18-05-2022, 16:47 PM
Tax Allowance on Rental Income.

by banner257

Can anyone help please, if a rental property is owned by two people 50 50. Would each owner be allowed to claim tax relief of £1000 each, or will the allowance of £1000 be split 50 50.
Thanks
- Channel: Tax Questions
18-05-2022, 08:42 AM
Reply to Tax Allowance on Rental Income.

by jpkeates

It's £1,000 each.

Most landlords don't use this though, because it's rare for income from a rental property to be low enough to qualify,
- Channel: Tax Questions
18-05-2022, 09:59 AM
Consent to Let - do we still need to pay tax

by VIKKI99

Hi, For kids school - we need to let out our Own House and move to a rental property close to school.
The rental money I receive from my tenants is exactly same as rent I pay on my property where I am a tenant.
Question : Rental money I receive from Tenants - should it be considered as income...
- Channel: Tax Questions
18-05-2022, 01:07 AM

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