Hi All... I have a bit of a situation with some builders who gave me a quote for a job stating 'Total for Works = £7000'. I accepted the quote and then 2 weeks later they asked for a holding deposit which was for '£500 + VAT' (because it clearly stated the ... Continue Reading
Hi, We loaned our daughter £115k to purchase a property 5 years ago, no mortgage on property. She has now moved to another part of the country and wants to transfer it back to us and buy one herself with mortgage. Property is now valued at £120k, how do we do ... Continue Reading
New client owns a building from which they used to trade. They now let it but have not yet opted to tax They have also made substantial repairs and, because they did not realise they needed to opt to tax the building once they were letting it if they wanted the ... Continue Reading
I am a Newby here and terminology may not be correct so please go easy on me! I have had a large BTL portfolio split 50/50 with my wife for circa 15 years. We are highly leveraged and the new tax rules (s24) are going to make life very difficult for us so time ... Continue Reading
I'm working in the UK on an assignment. The contract is for at least 2 years, and I receive my salary in Euros. I'm the only employee from my company in the UK and the company isn't registered in the UK, so I'm filing a self assessment tax return. I wondered what ... Continue Reading
I was thinking about CGT and the following scenario occured to me. It all happens in the same year: A person buys shares/ foreign currency. The price goes up a lot and they make £1 million. They then exchange a part of that holding for another share or currency. ... Continue Reading
1, If a gain is taxed using a percentage, is a loss also taxed that way? So if a person makes a gain of £10,000 then the personal allowance is removed and they must pay 20% GCT tax (depending on their rate) of what remains. But if they make a loss, can they use ... Continue Reading
I wonder if anyone might be able to help? I have been a director of a business for 19 years but it's time for me to leave now and it's amicable I have agreed a price for my shares to be bought (about £50k) but haven't agreed a notice period. I am going into ... Continue Reading
