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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
gifts
on 05/06/2020 08:51, by riccardob

Hello, If gifts are made from a donor when he is not domiciled in uk for tax purposes but then said donor becomes uk domiciled and dies within seven years of said gifts, are those gifts exempt from IHT as when they were made the donor was not domiciled? Many ... Continue Reading

Gift valuation
on 05/06/2020 00:40, by Bill31

Hi My father gifted part of the property we live in together. We have decided to stay together jointly and i want to make sure everything is in line. When the gift was made we had to provide a value of the house to be entered on land registry. We did not get ... Continue Reading

2nd property gift
on 04/06/2020 22:19, by Bill31

I thought this question best asked here. In 2010 i bought a buy to let property my first ever purchase. Me and my father have always lived in his house. He owns only 1 property. In 2016 he gifted that to me making us joint owners. The gift was for no money and ... Continue Reading

Emergency Tax and a UFPLS Payment
on 04/06/2020 22:11, by R1200GS

Can someone clear the fog of this income tax/ pension payment question please? I am a retired person who has recently submitted a claim for the cashing-in of one of my pension policies. This has been done as a UFPLS payment and I have received both the net figure ... Continue Reading

Gifts
on 04/06/2020 20:26, by Jackson45

Why does form IHT 400 ask about gifts made in 1986 ,many more than 7 years ago? Continue Reading

SDLT on Purchase
on 04/06/2020 17:01, by businessmind

My unmarried friend sold her primary residence 12 months ago, which was her only property. She is now buying a property to rent out, which will be her only property. Am I correct in saying she will not be liable for the 3% higher rate SDLT on the purchase? Many ... Continue Reading

Capital allowance on FHL cash basis
on 04/06/2020 15:12, by etf

The following response can be found on HMRC's Income from property forum: [b]I believe that capital allowances are not relevant for FHL tax calculations when using the Cash Basis (except cars etc) However some documentation (may just be out of date) eg PIM ... Continue Reading

Tony Margaritelli gives us an update following the recent government announcement about easing lockdown.