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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
Parents passing property to child
on 16/04/2024 17:02, by mp2016

Hello I have a friend who is 55 and her parents want to ensure that she receives their house when they die (or before) and not be hit with Inheritance tax or CGT. The property is currently worth 450k and perhaps 550k when they die, based on historical house ... Continue Reading

property income - Do I qualify as a sole trader
on 16/04/2024 15:14, by chocaholic

So, I have about 6 properties in the UK on which have been paying taxes on the profits, going back as far as 1995. I would like to qualify for paying class 2 NI contributions. I believe that in order for this to happen, I need to be able to show that I am a sole ... Continue Reading

Relief for SEIS losses
on 15/04/2024 12:22, by Welshlad

I invested £20,000 in 2019 in an SEIS company and claimed 50% relief - £10,000. As I had significant capital gains in that year, I also claimed CGT exemption on 50% of the investment - £10,000 @ 20% = £2,000. Unfortunately, the company has gone into liquidation ... Continue Reading

VAT error
on 15/04/2024 12:02, by BGM117

Good afternoon, I have a client in the motor trade purchasing around 2,000 cars p.a. A software error has resulted in 90 cars being treated wrongly as qualifying cars and input tax claimed (£271K) and output tax paid (£2812K). The net difference (£10,500) ... Continue Reading

VAT Paperwork
on 14/04/2024 18:00, by Nat2321302

Hi Good afternoon, I have a question - an ex -client who has been a client for the past 6 years has gone to a new accountant and he is asking for all the paperwork back for the past 6 years from me. I have given him the latest 12 months (4 Quarters VAT paperwork) ... Continue Reading

Minister of Religion purchasing property
on 12/04/2024 14:11, by M&S2024

I'm a Minister of Religion (Church of England) recognised as such by HMRC and required to live in the accommodation provided by the church. I hope to purchase a property this year that I will occupy on retirement in a year or so. I do not own a property at present. ... Continue Reading