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Started by teeps, 13-10-2017, 12:35 PM
5 responses
174 views
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Last Post teeps
by teeps
 
Started by DDAS, 23-12-2017, 19:24 PM
2 responses
45 views
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Last Post Gordon999  
Started by A James, 18-12-2017, 01:57 AM
6 responses
132 views
0 likes
Last Post security2  
Started by Isles, 20-12-2017, 01:38 AM
2 responses
44 views
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Last Post Isles
by Isles
 
Started by fixerupper, 15-12-2017, 21:45 PM
2 responses
59 views
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Last Post fixerupper  
Started by amazondean, 15-12-2017, 11:41 AM
5 responses
99 views
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Last Post Gordon999  
Started by Young Iserlohn, 12-12-2017, 10:35 AM
5 responses
96 views
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Last Post jpkeates  
Started by selondon, 04-11-2017, 16:33 PM
8 responses
189 views
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Last Post jpkeates  
Started by balla157, 06-12-2017, 10:57 AM
9 responses
196 views
0 likes
Last Post jpkeates  
Started by i-spark, 07-12-2017, 17:58 PM
2 responses
136 views
0 likes
Last Post jpkeates  
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Latest Topics

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  • Complex (for me!) CGT question on 2 property ownership...
    Raymondus
    Hi, this is my first post and I'm looking for some initial guidance on what I think is a somewhat complicated problem i'm heading towards...
    Apologies, its a long post!

    The facts:

    In 1983 my parents and I purchased our family council home under the Thatcher 'Right to...
    19-02-2018, 13:42 PM
  • Reply to Complex (for me!) CGT question on 2 property ownership...
    Raymondus
    Yes, I think you are right jpkeates. What started out as a fairly simple purchase and investment all those years ago has a life of its own now and has become complicated. I didn't for instance know if I might be able to claim PRR for the 3 years I was there when we first purchased it but just having...
    20-02-2018, 14:44 PM
  • Reply to Complex (for me!) CGT question on 2 property ownership...
    jpkeates
    You're probably going to need a tax specialist.
    When you are tenants in common with a percentage ownership, who lived where and when becomes critical and fiddly.

    For example, your third is subject to PPR for periods you were living there, but not when you weren't - family home or...
    20-02-2018, 12:55 PM
  • Reply to Complex (for me!) CGT question on 2 property ownership...
    Raymondus
    Hi JPKeates, we were tenants in common and what happened was my father left his share to my mother so she had 67% and I had 33%, which changes the figures Gordon 999 came up with.

    Re your response Gordon999 - thank you so much, you made me realize the obvious - that I hadn't actually owned...
    20-02-2018, 12:46 PM
  • Stamp Duty query
    HP mum
    I originally posted in the finance section - but I now think this is more of a tax question. Some questions arose during a discussion yesterday and I just wondered if anyone has any thoughts/ answers on the below?

    1stly) If someone (or company) buys a debt that has a legal charge over...
    20-02-2018, 11:36 AM
  • Reply to Stamp Duty query
    jpkeates
    Transactions are "connected" based on the facts of the transactions.

    You don't buy a property and its debt separately.

    In the example you give, the property is worth £3.5m, anyone buying it at £1.5m would be taxed as though the transaction was £3.5m - unless they...
    20-02-2018, 12:21 PM
  • Reply to Stamp Duty query
    HP mum
    thanks for the reply.

    Still a bit confused. If the debt is not a mortgage; rather a loan charged against a property does that make a difference?

    In such a poor market it is difficult to ascertain what is the "worth".

    If a transaction went through at...
    20-02-2018, 12:03 PM
  • Reply to Stamp Duty query
    jpkeates
    Buying a debt wouldn't incur stamp duty (unless the debt was some kind of tradable share). It's an interest in land, but it's unlikely to attract Land Tax as a secondary charge - but if the interest were sufficient to make it a controlling interest it might. If the debt was 99% of the property value,...
    20-02-2018, 11:47 AM
  • Has anyone read anything about the Labour Party's commitment to Land Tax?
    Worried of Bermondsey
    If so, can you share it because, from the little I've read, I'm worried.
    I believe that both Labour and Liberals are committed to replacing Council Tax with Land Tax.
    And I think this has very frightening implications for buy-to-let landlords.
    I've looked at how Land Tax works on...
    11-02-2018, 16:08 PM
  • Reply to Has anyone read anything about the Labour Party's commitment to Land Tax?
    elbowe
    ...they need to bring back Poll Tax, correct and proper tax, you use it, you pay for it (assuming adult etc).

    LVT is never going to get off the runway ..

    If Labour get into power we have far bigger issues than LVT .. after all they cannot even convince us they can actually...
    20-02-2018, 11:11 AM
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