Tax Questions

Collapse

Forums Topics Posts Last Post
No forums found.
  • Filter
  • Time
  • Show
  • New Topics
Clear All
new posts
There are no conversations in this channel.
  • Filter
  • Time
  • Show
Clear All
new posts
Please log in to your account to view your subscribed posts.
  • Filter
  • Time
  • Show
  • Sort By
  • Order
Clear All
new posts
Topics Statistics Last Post
Started by dotcotton999, 02-08-2019, 05:58 AM
20 responses
195 views
0 likes
Last Post dotcotton999  
Started by Edgarina, 07-09-2019, 13:40 PM
15 responses
143 views
0 likes
Last Post Kape65
by Kape65
 
Started by halfax, 15-09-2019, 10:51 AM
2 responses
27 views
0 likes
Last Post Gordon999  
Started by dexterpierson, 14-09-2019, 10:11 AM
2 responses
33 views
0 likes
Last Post jpkeates  
Started by MikeKnight, 14-09-2019, 10:19 AM
8 responses
55 views
0 likes
Last Post AndrewDod  
Started by alice123, 17-05-2019, 14:29 PM
34 responses
183 views
0 likes
Last Post alice123  
Started by tommys, 11-09-2019, 16:18 PM
2 responses
34 views
0 likes
Last Post alice123  
Started by SnowyDays, 06-09-2019, 20:13 PM
5 responses
68 views
0 likes
Last Post Gordon999  
Started by terrihaz, 24-08-2019, 20:33 PM
8 responses
115 views
0 likes
Last Post alice123  
Started by alice123, 06-09-2019, 17:08 PM
3 responses
54 views
0 likes
Last Post AndrewDod  
No topics found.

Latest Topics

Collapse

  • Second payment on account
    dotcotton999
    Hello all,

    After paying my 2017/18 tax bill I was asked to pay the first payment on account for 2018/19. The first payment was due by the 31st July 2019. This payment goes towards my future tax bill.

    I paid that money owed by the deadline but it hasn’t reduced my 2018/19...
    02-08-2019, 05:58 AM
  • Reply to Second payment on account
    dotcotton999
    There’s me thinking it’s called self assessment...
    16-09-2019, 19:28 PM
  • Name off title deeds to remove tax liability
    Edgarina
    I am a higher rate tax payer and my wife is not. I have removed myself from the mortgages of the two buy to let properties we have jointly owned and all the proceeds of the properties are now going into an account in my wife's name. Is this enough so I am no longer liable to pay tax on the income from...
    07-09-2019, 13:40 PM
  • Reply to Name off title deeds to remove tax liability
    Kape65
    With legislation on linked transactions I would suggest their would be a SDLT liability dependent on the mortgage value transferred. If the joint value amounted to £40k or more then 3% would be payable on the entire amount.
    16-09-2019, 18:58 PM
  • Reply to Name off title deeds to remove tax liability
    Edgarina
    Hi,

    The property value is about 55k each so no stamp duty, the bank had no issues at and didn't even mention it but of course I said I was coning off the deeds too and its via the banks (very expensive solicitors).

    I have had an opinion from an accountant and yes it looks like...
    16-09-2019, 16:13 PM
  • Reply to Second payment on account
    OneSmallStep
    I think if I had a £200K tax bill, then my accountant should really be earning their money and explaining in detail how my liability is calculated....
    16-09-2019, 10:37 AM
  • house to flats tax implication
    halfax
    i have a large house which i have rented for 18 years and i am considering turning into 3 flats. would i be able to sell as a develope (treated as a trader) when the flats are completed?
    would it be a capital gain or would i be able to move them into a company just paying stamp duty
    15-09-2019, 10:51 AM
  • Reply to house to flats tax implication
    Gordon999
    If you sell the house to a company, you would be liable for capital gains tax on the calculated capital gain ( = sale proceeds minus original cost ) at 18% or 28%. But you can claim personal capital gains allowance of about £12K. The company has to pay sdlt.

    If you convert the house and...
    15-09-2019, 17:38 PM
  • Reply to Second payment on account
    dotcotton999
    Leaseholder64 do you think if my bill states I owe £200,000 for the 2019 tax year but because I’ve paid £100,000 previously as a payment on account I just pay the other £100,000?

    Thanks...
    15-09-2019, 16:33 PM
  • Reply to Second payment on account
    dotcotton999
    Does anyone know what section the figure is input to? Thanks
    15-09-2019, 14:10 PM
Working...
X