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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
Capital Introduced
on 07/12/2023 19:14, by Markp9631

I have a Partnership just me and the wife ,we introduced funds to start the business,we have had a good year and profits are good ,can we take out some of the money we put in as capital so we can reduce our tax bill for year 2022-23 Any advise helps Thank you Continue Reading

Club enquiries
on 07/12/2023 12:55, by Donkeychopper540

We are members of a club that has some 140 members, all members pay a subscription annually, this covers the costs of running the club. Rent of the meeting place and guest speakers and such. We are thinking of setting up a competition and attract entries to it ... Continue Reading

Residence Nil Rate Band
on 04/12/2023 20:17, by Kevinm

Hi I had hoped last week Mr Hunt might have saved me needing to ask this question ! As I understand for estates over £2m the extra £175,000 nil rate band starts to be lost. Looks like for a married couple this is £175,000 each & it is carried forward to ... Continue Reading

Tax on UK State Pension overseas resident
on 04/12/2023 20:01, by Kevinm

My brother is resident in Portugal (NHR status). He is in receipt of UK state pension since Oct 2022 & UK Teachers pension. He fills in self assessment on line as he has rental income in the UK from one house. He has given his Portugal address to HMRC. He has ... Continue Reading

Reclaiming ADS when selling to LTD company
on 04/12/2023 19:43, by JBern

Good evening all, I am looking to purchase a house and retain my current house as a rental property. The new house is bigger and as a result we are ending up paying £18,000 ADS, my question is if I was to put my current house into a LTD company which has to ... Continue Reading

Reverting back to 50/50 ownership on BTL property
on 01/12/2023 11:08, by anders35

Hi, A number of years ago my spouse and I changed our ownership percentage to unequal shares for our BTL property. Back then, we created a declaration of trust and sent in form 17 to HMRC. Now, we would like to revert back to 50/50 ownership. It seems that form ... Continue Reading

NICs on UK income received after leaving the UK
on 30/11/2023 14:13, by anders35

Hi, I left the UK a few years ago to start full time employment in an EU country. Recently, I received a deferred bonus payment from my former UK employer. I understand that it should be liable to UK income tax as it was in fact "earned" while living in the UK. ... Continue Reading

Is interest chargeable when...........
on 29/11/2023 11:09, by Fasteddie

Is interest chargeable when the previous year the payments on account were reduced to almost nil as it was known a large capital allowance AIA would be claimed, and taxable income was indeed nil for the year once the AIA was claimed. But the following year taxable ... Continue Reading