Afternoon Does a declaration of trust need to be reflected on the land registry? I know that with a deed of assignment this does? The wills have also been updated to incorporate the declaration of trust. Thank you Continue Reading
Does anyone know if the HMRC CGT on property calculator is reliable? I have been trying to calculate the gain using the default method, where the client had PPR for a period after April 2015 (as he did not become non-resident until 2018) and I cannot see how it ... Continue Reading
M, 35, is buying a house for £1.04M (with a mortgage of £432k). To facilitate this his mother S, 69, is proposing to gift M. £100k, and lend him a further £300k to be repaid from the eventual sale of his current flat. Question 1: how does the gift need to ... Continue Reading
Hi I recently sold a rental property I owned for £60,000 to my son, which was 50% of the market value at the time. I actually paid £84,000, 7 years ago. My question is, do I have to pay CGT on the transaction? I contacted hmrc but was told I did not. I believe ... Continue Reading
Hello, I am working to set up a small furniture making business as part of a limited company that I run. The company has already bought some tools and some stock of materials. At the same time, I need to make a few items of furniture for family's personal use. ... Continue Reading
Hi I have an invoice which we have paid on behalf of the business owner for repair works to one of his personal cars. It amounts to £3k plus VAT. Do we recover the input tax on this and the VAT inclusive value go on his P11D? The invoice is made out to himself ... Continue Reading
Hi all - I have a client who purchased a property with their sibling. They subsequently moved out of the property and sibling lives there with their family. Are there any tax implication for the self-assessment with one of the siblings living in the property ... Continue Reading
Hi I'm a retired British non resident landlord with 1 property and pension total income about £20,000 a year will I have to by law sign up for "Making Tax Digital" ? at the moment I complete a paper self assessment every year and my tax affairs are up to date. I'm ... Continue Reading
