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Where Taxpayers and Advisers Meet

Search found 109 matches

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by Brightonian
Fri Jul 17, 2020 9:06 am
Forum: Capital Gains Tax, CGT
Topic: non resident selling UK home
Replies: 5
Views: 660

Re: non resident selling UK home

Thank you bd6759. I may have missed a trick on the nomination front but, as he did change employment several times without ever reoccupying the property, it does look as though it doesn't matter.
by Brightonian
Fri Jul 17, 2020 9:01 am
Forum: Capital Gains Tax, CGT
Topic: Capital losses
Replies: 2
Views: 311

Re: Capital losses

Thank you very much. Oddly enough, I couldn't find that.
by Brightonian
Thu Jul 16, 2020 8:05 am
Forum: Capital Gains Tax, CGT
Topic: Capital losses
Replies: 2
Views: 311

Capital losses

Is it possible to disclaim brought forward capital losses for a particular year? My client will have a capital gain this year and has losses brought forward from the early 2000s. However, any UK tax paid by him can be offset against tax he has to pay overseas on the same gain. Therefore it would be ...
by Brightonian
Wed Jul 15, 2020 3:39 pm
Forum: Capital Gains Tax, CGT
Topic: non resident selling UK home
Replies: 5
Views: 660

Re: non resident selling UK home

Thank you both for taking the time to respond. I see that there are several pitfalls here. He worked for several different employers during his period of absence but there was never a substantial gap between any of them. I did not think that the number of employments made a difference. He did buy a ...
by Brightonian
Tue Jul 14, 2020 5:15 pm
Forum: Capital Gains Tax, CGT
Topic: non resident selling UK home
Replies: 5
Views: 660

non resident selling UK home

I am wondering if I am being a little naive here.A foreign national buys a house in the UK and lives in it, as his main residence, for some years before going to work abroad in various countries. He has no intention of ever returning to the UK. He lets the UK property out. Finally, in 2020 he decide...
by Brightonian
Tue Jun 23, 2020 3:17 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: dividends declared but not paid at death of life tenant
Replies: 0
Views: 520

dividends declared but not paid at death of life tenant

The life tenant died on 8 April, at which time there were several dividends that were xd. There was also a unit trust income distribution declared but not paid. The trust funds now go into an existing discretionary trust for the settlor's grandchildren. I am preparing the IHT400 etc. I am assuming t...
by Brightonian
Mon Jun 01, 2020 4:48 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Memorial service
Replies: 2
Views: 614

Re: Memorial service

Thank you, Maths. I appreciate your advice. It is not a huge estate and does seem disproportionate. I will see what they say.
by Brightonian
Mon Jun 01, 2020 3:18 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Memorial service
Replies: 2
Views: 614

Memorial service

I am preparing an IHT400 where the executors want to claim the costs of a future memorial service. I realise that, because of coronavirus, the funeral was not what the family would have wished. However, the costs of the actual funeral came to £4,500. They estimate the proposed memorial service costs...
by Brightonian
Fri Apr 24, 2020 3:47 pm
Forum: Capital Gains Tax, CGT
Topic: S.279A TCGA 1992 election
Replies: 1
Views: 612

Re: S.279A TCGA 1992 election

It has been suggested to me that a simple amendment of the 2016/17 tax return might be possible under the overpayment relief rules. Does anyone agree?
by Brightonian
Thu Apr 23, 2020 4:15 pm
Forum: Capital Gains Tax, CGT
Topic: S.279A TCGA 1992 election
Replies: 1
Views: 612

S.279A TCGA 1992 election

I am trying to compose an election and am struggling to understand the legislation. My client sold shares in a company in 2016/17 and, as part of the deal, received deferred cash consideration - both ascertainable and unascertainable. This was all taxed in 2016/17 in order to obtain the ER 10% rate....

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