My client, who is UK resident, sold her Spanish flat last year. I am unsure as to how to treat the Plusvalia Municipal she paid. This is a local tax and, according to the DTA, local taxes on capital can be offset against UK CGT. So far, so good. However, on researching ... Continue Reading
My 92 year old mum has had to move into assisted living as she can no longer cope on her own. We are selling the house so she has money available to live. My question is.... When does she have to pay capital gains tax on the sale of the property, if its not sold, ... Continue Reading
Wr bought a proprerty and used it for our business for 10 years. We then built a flat above it, self build, 20 years ago. We are now selling it. How do we value the buying price? Continue Reading
My brother in law (UK domiciled) bought a ruin in Greece in 1994, restored it and in 2020 because of the risk that it might not pass on to his wife when he died, he transferred it into her ownership, retaining a right to use it for life. This is known as a Usufruct ... Continue Reading
Me and my ex-wife agreed informally (out of court) that I would take our savings and she would keep the apartment. We divorced five years ago. However, my ex-wife has not yet removed my name from the property deed. We also still have a joint mortgage, which she ... Continue Reading
Hello, My wife and I are currently UK tax residents. My wife is a US national. I am British. We jointly own a home in UK. We intend to move to Ireland where we will remit my wife's pension from USA. We will follow the necessary procedure to revoke our UK tax ... Continue Reading
Hi, Husband is UK resident and living in a UK property jointly owned with his non-UK resident wife. Wife is living abroad in a house owned solely by her. They are married, not separated, just temporarily living apart. UK house is to be sold. The property had ... Continue Reading
Hi, hope someone knows the answer to this. On paper we have enough surplus income to start sizeable gifting under the "gifts out of income" exemption (s21), but a chunk of this is ISA dividend income, and I'm trying to understand whether that income counts for ... Continue Reading
