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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
Drawing money from Ltd company as interest
on 19/10/2018 16:30, by RMC

H&W company’s DLA was almost £100,000 in credit. They wish to benefit from the savings allowance and receive interest on the loan. The loan is not really needed – money is parked in the company bank account. What interest rate can they pay without fear ... Continue Reading

VAT sole trader reselling to EU
on 19/10/2018 11:22, by CJ77

Hi everyone! I have recently become a UK sole trader and was wondering if anyone could help me a query I have:- If I buy some products from a UK Ltd company as a sole trader( without VAT registration to date), with the sole purpose of reselling to the EU would ... Continue Reading

Claim business Mileage Relief or not?
on 19/10/2018 11:11, by James Robinson

Hi all, Would welcome some guidance and expert opinion on a issue I am querying at work. My employer provides a fuel card for my private car, which I use to pay for both business mileage fuel (est. 20k miles per annum) and personal fuel (est. 10k miles per annum). However ... Continue Reading

UK tax on overseas income
on 19/10/2018 08:08, by jimclark1904

Hi I have been working in India for the past 12 years and have only spent approx 20 days in the UK each year up until 2017-18 tax year so have not paid UK taxes. Last year I bought a house in the UK and my family moved back to the UK while I continued to work ... Continue Reading

Dividends Personal Allowance in Tax Returns
on 18/10/2018 12:37, by Lextar

So I noticed in my previous year's tax return that I included my ISA dividends in with the none ISA dividends when asked how much I got. 1) dividends from a Shares ISA don't need to be included in tax return? 2) Is the personal allowance for dividends automatically ... Continue Reading

Company CGT
on 18/10/2018 00:20, by antalya

I am the sole director/99% shareholder in an investment company whose sole asset is a freehold property comprising of a lock-up shop and a self contained flat above both let separately. The flat has always been let on a AST basis and the shop on commercial leases ... Continue Reading

Capital gains queries and yearly gift allowance
on 17/10/2018 22:13, by Jaytee73

In 2006, I was gifted the sum of £150,000.00 which with the 7 year rule would have been exempt from tax in 2013. Unfortunately for an income reason, I gave the money back in 2011 but received it back in the same year and therefore I am led to believe that the ... Continue Reading

Renovate property before Inheritance tax / probate?
on 17/10/2018 17:54, by David_60

Hello, there will be a large inheritance tax bill on an estate, much of it on a property. However it is in poor condition. It would need painting, new kitchen carpets etc. At least 3 or 4 months work. Would the estate be allowed to renovate the property, using ... Continue Reading

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