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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
PPR / CGT Query
on 07/03/2021 11:10, by ssmyth

I have a query relating to PPR relief. To summarise the relevant facts: - I purchased an investment property 5 years ago in my own name as part of my personal investment property portfolio, that has been rented out since (both the house with it's large garden ... Continue Reading

LISAs and the Lifetime Allowance
on 06/03/2021 15:04, by JOHNRE

Quite a simple question, really, but have been unable to find the answer savings in a Lifetime ISA count towards your Lifetime Pension Allowance? Cheers. John Continue Reading

£3000 Annual gift
on 06/03/2021 10:27, by sptiht

4 years ago my elderly father transfered £120,000 to me as a gift to invest in a small business. Despite it being a gift I wanted to pay it back and over the next year repaid £6,500. Things got a little tight financially and my father reiterated that he didn't ... Continue Reading

Opening remote company, tax implications
on 06/03/2021 09:43, by forcedout

With IR35 reforms coming in on the 6th April my company will no longer be able to trade. Unfortunately all my clients and potential clients have decided that they will deem all contractors inside IR35 (They don't want to risk long and costly battles with HMRC) ... Continue Reading

Investment Property CGT Scenario
on 06/03/2021 01:37, by ssmyth

In 2013 I purchased a residential investment property in my own name that has been rented out since. I shall shortly be terminating the tenancy as the time has come to sell the property with vacant possession. When the tenants have moved out and before putting ... Continue Reading

How to reduce IIP Trust Exit Charges?
on 05/03/2021 15:35, by mrbluesky

My late father created an IIP Trust in November 2015, and passed away last October. He settled his half of the marital home (as Tenant-in-Common) into it when it was created, plus some cash in 2016, total value was about £227,000 (£102k cash + £125k valuation ... Continue Reading

Report sale of property to HMRC
on 05/03/2021 10:04, by Yiannis17

Morning I have a situation where someone has sold a property that they both lived in and also rented out. There is no gain tax because of capital costs incurred and also exempt portion when they lived in the property. I know that non residents still need to report ... Continue Reading

probate and deed of variation application
on 04/03/2021 18:22, by riccardob

Hello, If a parent (called a) is a beneficiary of a will but wishes to direct the inherited assets to his son (called b) but b is also executor, do the assets need to be passed by b as executor to a first and the back from a to b to implement the dov or can b ... 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.