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Where Taxpayers and Advisers Meet

Search found 38 matches

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by sandy2000
Thu Aug 15, 2019 9:31 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Re-mortgaging and adding spouse
Replies: 4
Views: 12451

Re: Re-mortgaging and adding spouse

thank yousomeone for clarifying my doubts
by sandy2000
Wed Aug 14, 2019 11:59 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp Duty Laws
Replies: 3
Views: 11609

Re: Stamp Duty Laws

Is that provided wife's share is more than 40k (in the first property) ? I mean will the 40k limit apply in this case?
by sandy2000
Wed Aug 14, 2019 11:46 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: taking a property in lieu of debt
Replies: 4
Views: 12338

Re: taking a property in lieu of debt

There may be other options..without exploiting the relative in a difficult situation ... eg placing a restriction RX1 to the tune of 280k, and or transferring a beneficial interest in 80% (= 280 / 350) of the property without transferring the legal title.. possibly zero SDLT for the new beneficiary ...
by sandy2000
Wed Aug 14, 2019 11:40 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: taking a property in lieu of debt
Replies: 4
Views: 12338

Re: taking a property in lieu of debt

additional possible CGT burden on the current owner.
by sandy2000
Wed Aug 14, 2019 11:38 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: taking a property in lieu of debt
Replies: 4
Views: 12338

Re: taking a property in lieu of debt

Possible SDLT assessed at full market value - the transferor being a family member.
by sandy2000
Wed Aug 14, 2019 9:19 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Re-mortgaging and adding spouse
Replies: 4
Views: 12451

Re: Re-mortgaging and adding spouse

It depends on the current mortgage and the proportion of beneficial interest your husband acquires. No current mortgage = no consideration = no sdlt. 300k current mortgage, 50% to H, sdlt on 150k consideration (no 3% surcharge though) 300k current mortgage, 99% to H, sdlt on 297k consideration (dit...
by sandy2000
Wed Aug 14, 2019 8:09 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT Gift - Quick query
Replies: 8
Views: 12285

Re: IHT Gift - Quick query

If the gift is more than 3000 -- say 7000 as one transfer, will only the additional 4000 be counted as potentially taxable or the the entire gift of 7000 could be included for the inheritance tax?
by sandy2000
Wed Aug 14, 2019 8:05 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT Gift - Quick query
Replies: 8
Views: 12285

Re: IHT Gift - Quick query

Yes I am. We can all give away £3000 per tax year and those gifts are immediately exempt from inheritance tax. If the gift is more than 3000 -- say 7000 as one transfer, will only the additional 4000 be counted as not potentially taxable or the the entire gift of 7000 could be included for the inhe...
by sandy2000
Fri Mar 16, 2018 7:57 pm
Forum: Property Taxation
Topic: Deducting mortgage arrangement fee
Replies: 5
Views: 3297

Re: Deducting mortgage arrangement fee


I can't find anything in the HMRC manual about this. Is my accountant correct please? Can anyone give me any pointers? Thanks
Did you manage to convince your accountant?
by sandy2000
Mon Mar 05, 2018 12:05 am
Forum: Income Tax
Topic: Rental funds
Replies: 2
Views: 1238

Re: Rental funds

from the question it doesnt seem like Cedric wants to take the burden of tax on the entire income. but Only for 2/3 of the income (wife and self), and son retaining entitlement on the 1/3 of the income (as it seems to be below 3k and under the allowance) Will Gifting not increase the tax for Cedric ...

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