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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
Declaration of Trust and land Registry
on 22/09/2021 14:57, by Yiannis17

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

non resident selling UK home
on 22/09/2021 14:52, by Brightonian

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

Dorumentation required for gift
on 22/09/2021 11:11, by sharpener

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

Cgt on sale of rental property below market value
on 21/09/2021 14:44, by Daver36

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

Hiring my own company?
on 21/09/2021 14:37, by brighton1986

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

P11D - Car repairs
on 21/09/2021 13:37, by LEE1981

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

siblings owning property
on 21/09/2021 13:22, by JamesBennett1981

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

Making Tax Digital
on 20/09/2021 05:44, by kanrent

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

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.