Hello IHT forum Prior to death, the deceased had entered into a legally binding contract to purchase. In this case the deceased had agreed to buy a residential property. I have read some of HMRC guidance on binding contracts and BR relief. For the IHT calculation Does ... Continue Reading
Hi I have been trawling the web for some clarity. I want to demolish and rebuild a house , but keep a detached garage. I was assuming that it would be eligible for a VAT reclaim. For more clarity, i currently have planning permission for an extension, but not ... Continue Reading
One can make a cash gift up to £3,000 per tax year tax free. One can also transfer money to his child via "gifts out of surplus income" . Can you do this parallel i.e. you give your wife £3,000 per year and £500 monthly to your child out of surplus income ? Continue Reading
Seeking to understand what SDLT is applicable for ex spouse and I when we both buy new homes post divorce and post sale of family home. We also continue to own 50% share in some rental flats and a holiday let Continue Reading
Hi, can someone please untangle this for me : 1)First accounting priod per CH : 30.01.2024 - 31.01.2025 - ( request for submission extension to 31.01.2026 - accepted) - accounts Submitted 29.1.2026. OK 2) Accounts for HMRC for the period 30.01.2024-31.01.2025 ... Continue Reading
I'm a UK national who returned to the UK in 2024 after living/working in USA for 25 years. I worked for a US company, 100% in the US, and retired from there in 2022. However, this year I will receive some deferred compensation (cash and shares) that will taxed ... Continue Reading
I think this is a fairly basic question, but I am struggling to find a clear answer to it: My son, who is 17 and in full-time education, has created something that he wants to sell over the internet. Given his age, payment intermediaries (through which customers ... Continue Reading
Hi. I was born and have lived my whole life in England. I inherited a share of a relative's house in Portugal several years ago and it sold in August 2024. I have paid capital gains tax in Portugal. Do I need to declare the gain and pay tax in the UK as well or ... Continue Reading
