Tax Questions

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If I move to o Canada do I pay tax in UK or Canada ? by craig2222 Started by craig2222, 27-08-2018, 18:22 PM	8 responses 257 views 0 likes	Last Post by leaseholder64 31-08-2018, 11:00 AM
Partner's tax-free allowance and National Insurance by bhodgkiss Started by bhodgkiss, 25-08-2018, 09:41 AM	6 responses 136 views 0 likes	Last Post by bhodgkiss 30-08-2018, 08:18 AM
Can I change rental income split now for 2017-18? by bhodgkiss Started by bhodgkiss, 27-08-2018, 15:45 PM	2 responses 110 views 0 likes	Last Post by bhodgkiss 27-08-2018, 18:46 PM
Confused with what I may owe HMRC through the 'Let Property Campaign' by Mavis808 Started by Mavis808, 26-08-2018, 15:56 PM	3 responses 799 views 0 likes	Last Post by Gordon999 27-08-2018, 12:21 PM
Move to ltd company by Helvie Started by Helvie, 06-08-2018, 09:41 AM	10 responses 247 views 0 likes	Last Post by Gordon999 24-08-2018, 16:58 PM
Subsistence costs - can my limited company pay for me? by JamesHopeful Started by JamesHopeful, 21-08-2018, 20:28 PM	2 responses 81 views 0 likes	Last Post by JamesHopeful 24-08-2018, 10:38 AM
Question regarding upgrades in flat for tax relief by Helvie Started by Helvie, 05-08-2018, 13:03 PM	7 responses 172 views 0 likes	Last Post by jpkeates 21-08-2018, 12:20 PM
Seeking a professional tax expert please by Landlord2015 Started by Landlord2015, 20-08-2018, 12:26 PM	0 responses 87 views 0 likes	Last Post by Landlord2015 20-08-2018, 12:26 PM
Let Property Campaign and past experience by JazzApples Started by JazzApples, 17-08-2018, 16:19 PM	12 responses 2,331 views 0 likes	Last Post by Gordon999 19-08-2018, 11:08 AM
Becoming self employed to become your tenant's gardener? by Juliaabc Started by Juliaabc, 14-08-2018, 16:03 PM	11 responses 251 views 0 likes	Last Post by jpkeates 18-08-2018, 08:16 AM

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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