Bought a property, rented out, Scottish Highlands, cheap, £32k in 2000. Sold this tax year, Date of entry 21/02/2020, £105k (3 beds, views of sea lochs, mountains, within 50 mtrs of stream). Various buying and selling expenses: 1st time ever selling a house ... Continue Reading

Morning, Is it possible to transfer rental income to spouse via a declaration of trust?. If so any suggestion how one should read & how is it defined for how long my partner would be entitled to the rent. Would we be able to state this I.e 12 months, 18 ... Continue Reading

I understand the rules around BPR for IHT. However you can't claim Business Relief if the business or company mainly deals with securities, stocks or shares, land or buildings, or in making or holding investments. My late father had a significant holding in an ... Continue Reading

I am an executor for my father's estate, which consists of a house and a substantial amount of shares, mostly in unlisted companies. For probate we are valuing everything (with expert help when needed).  However the time it has taken meant that some of these ... Continue Reading

Good evening everyone, I intend to become a sole trader (side hustle) soon but before that, I would like to educate myself in taxes, the company running cost etc. For the reason that I am here. First and for most, I have to purchase my own car. The questions ... Continue Reading

Husband and Wife settled a joint second death life policy onto discretionary trust with their children (who are all adults) as the discretionary beneficiaries in 2010 and paid premiums jointly until wife died in 2015. Husband died in 2019 and pay out received. ... Continue Reading

My daughter was born in USA and has USA citizenship. Lived in UK since age 1 and has British Citizenship (certificate). Now has the tax residency letter to complete from her bank. Will she have to pay US tax on her UK earnings even though she is not US resident ... Continue Reading

Hmrc website says information correct as of 21/02/2020 On my tax return when I click on it and today is the 25/02/2020 I’m just wondering if there’s a certain time hmrc will update the website to today’s date? So I can see the progress on my acount. Than ... Continue Reading