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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
Reclaim already paid CGT on house sale
on 25/01/2022 17:54, by sapstar

I have sold a property in the tax year 2021/22 and paid the CGT during this sale. Subsequently in the year I have made a loss in sale of shares. Would I be able to reclaim some of the CGT I have already paid. Continue Reading

Tax on cash gifts received from other countries
on 25/01/2022 17:42, by sapstar

Hi all, I am new to this forum. I have been living in the UK for many years and a tax resident of the UK. If I receive any cash gifts from my parents who live abroad and not UK citizens, will I be liable for any UK taxes? What are the limits for any such cash ... Continue Reading

Lifetime mortgage and tax liability
on 25/01/2022 05:01, by greenjersey

Hello, I was considering taking out a lifetime mortgage on my home so I can gift £80,000 each to my two daughters. This will enable them to upgrade their homes. However I have a terminal illness and there is no prospect of me surviving for seven years. If I transferred ... Continue Reading

UK resident with common shares
on 24/01/2022 21:28, by madbilly

Hi all, I've been granted some common shares in the company I work for. I'm currently UK resident and will be USA resident later this year. I believe I should file a 83(b) election and apply for an ITIN at the same time (I don't have one yet). Does that sound ... Continue Reading

UK tax liability from earnings abroad
on 24/01/2022 14:21, by qaboos5136

I am currently working in the Middle East, have been since August 2019. Prior to leaving UK, I decided to rent out my flat through a High Street estate agent. I receive rental income minus agents fees, minor maintenance costs (as when required) undertaken by estate ... Continue Reading

Deed of Variation- Discretionary Trust
on 24/01/2022 14:08, by umeshg1

The deceased left the residue in her will to a discretionary trust that she set-up during her lifetime The executors of her estate and the trustees of the trust are same. The beneficiaries of the Trust are the trustees and their adult children. The trust stipulates ... Continue Reading

ICPA Chairman Tony Margaritelli discusses 3 topics centred around October, including: 1. HMRC Furlough Fraud & Fighting For Your Clients, 2. Think About Yourself, 3. Are You a HMRC Customer.