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Where Taxpayers and Advisers Meet

Search found 49 matches

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by DJ314159
Sat Jan 04, 2020 2:16 pm
Forum: Income Tax
Topic: Primary NI threshold for 2020/21
Replies: 2
Views: 745

Re: Primary NI threshold for 2020/21

Thanks for your input robbob.
by DJ314159
Sat Jan 04, 2020 10:39 am
Forum: Income Tax
Topic: Primary NI threshold for 2020/21
Replies: 2
Views: 745

Primary NI threshold for 2020/21

Anyone know the primary NI threshold for 2020/21? (i.e the equivalent of the £8,632 figure for 2019/20). Thanks.
by DJ314159
Sun Jun 23, 2019 9:53 pm
Forum: Capital Gains Tax, CGT
Topic: Transfer of Capital Losses to spouse on death
Replies: 2
Views: 1150

Re: Transfer of Capital Losses to spouse on death

Thanks for the reply.
by DJ314159
Sun Jun 23, 2019 6:27 pm
Forum: Capital Gains Tax, CGT
Topic: Transfer of Capital Losses to spouse on death
Replies: 2
Views: 1150

Transfer of Capital Losses to spouse on death

If someone's been carrying forward capital losses and they die are the losses transferable to the surviving spouse? Thanks.
by DJ314159
Tue Apr 30, 2019 8:05 pm
Forum: Income Tax
Topic: Should I set up as a ltd business or remain as sole trader
Replies: 4
Views: 624

Re: Should I set up as a ltd business or remain as sole trader

On £55k gross profit you will pay 20.34% in tax with the limited company option (taking a salary of £8,632 - not £12,500, as you will be a close company) With the sole trader option you pay 24.51% tax ( https://www.uktaxcalculators.co.uk/dividend-vs-salary.php ) Some of what you save will be eaten u...
by DJ314159
Sun Mar 31, 2019 1:39 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: sorting out parents estate UK and foreign property
Replies: 5
Views: 812

Re: sorting out parents estate UK and foreign property

Hi AGoodman, did you mean £250k when you said there is a double additional nil rate band up to £350k? We are still in 2018-2019, for which the RNRB is £125k (2x£125k=£250k). The £175k figure is for the year 2020-2021.
by DJ314159
Mon Mar 25, 2019 5:07 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Filling out C4 - Corrective Account Form
Replies: 3
Views: 634

Re: Filling out C4 - Corrective Account Form

Knew it was optimistic to want relief for the costs of sale and was intending to put the £740 figure (actual sale value achieved) on the C4 form. Can't see a problem reducing the value of a chattel to actual value achieved as I'm sure HMRC would be interested to know of an increase, but I suppose it...
by DJ314159
Mon Mar 25, 2019 9:31 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Immediate gifting of an inheritance
Replies: 7
Views: 944

Re: Immediate gifting of an inheritance

I assumed the personal representatives and the legatees were one and the same, in this case, as I got the impression that the original poster was seeking assurance that CGT would not at some point be calculated from the point of acquisition of the assets. Surely, when the assets are passed to the pe...
by DJ314159
Sun Mar 24, 2019 5:25 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Immediate gifting of an inheritance
Replies: 7
Views: 944

Re: Immediate gifting of an inheritance

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg22240
by DJ314159
Sun Mar 24, 2019 5:05 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Immediate gifting of an inheritance
Replies: 7
Views: 944

Re: Immediate gifting of an inheritance

For inter spouse disposals, the cost of acquisition, when calculating the subsequent gain, is the original transferor's base cost. So when he disposes of the shares CGT will be calculated according to the original cost to his wife and NOT their value on the day of transfer. His transfer does not alt...

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