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Where Taxpayers and Advisers Meet

Search found 431 matches

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by RMC
Sun Mar 03, 2019 4:01 pm
Forum: Business Tax
Topic: Property developer – input VAT recovery, furniture etc.
Replies: 1
Views: 226

Property developer – input VAT recovery, furniture etc.

A property developer purchases some land and builds upon it houses intended for re-sale. He considers construction services incl. materials to be VAT zero-rated and accordingly construction companies do not charge VAT. However a contractor supplying carpentry services insists on charging VAT on item...
by RMC
Thu Jan 31, 2019 11:34 pm
Forum: Income Tax
Topic: Part time job abroad
Replies: 1
Views: 173

Re: Part time job abroad

What funds will you be receiving in your UK bank account - UC or JSA? Will that be enough to pay for your travelling to your part-time job?
by RMC
Wed Dec 05, 2018 8:34 pm
Forum: Income Tax
Topic: Tax in new job after redundancy and gap
Replies: 1
Views: 241

Re: Tax in new job after redundancy and gap

Give them your P45 or P45U and you'll get your allowances in full and pay correct amount of tax.
by RMC
Mon Nov 19, 2018 1:42 pm
Forum: VAT & Excise Duties
Topic: VAT QUESTION
Replies: 1
Views: 426

Re: VAT QUESTION

yes the landlords are correct - for VAT purposes Guernsey is not a part of UK or EU. The place of supply is in Guernsey and outside scope of UK VAT.
by RMC
Mon Nov 19, 2018 1:29 pm
Forum: Business Tax
Topic: soletrader to ltd
Replies: 4
Views: 455

Re: soletrader to ltd

So, assuming that the accounting year-end is 5 April, maybe best to buy the van (& similar) before 5.4.2019 and incorporate say on 7.4.2019?
by RMC
Sun Nov 18, 2018 8:32 pm
Forum: Property Taxation
Topic: I own a student property with my daughter - can she live there rent free
Replies: 3
Views: 472

Re: I own a student property with my daughter - can she live there rent free

Under the arrangement you describe your student daughter will owner-occupy 1/4 of the house and cannot pay rent to herself. Rent from the remaining 3 tenants should go 50% to you, 25% to your other daughter. If anybody’s rental income exceeds £1,000, they will have to register for self-assessment an...
by RMC
Sun Nov 18, 2018 5:56 pm
Forum: General
Topic: Self Assessment - Commercial and Residential Mortgage
Replies: 1
Views: 370

Re: Self Assessment - Commercial and Residential Mortgage

My question is, are you now renting the property to a third party, having closed down the restaurant business?
by RMC
Sun Nov 18, 2018 5:51 pm
Forum: Business Tax
Topic: soletrader to ltd
Replies: 4
Views: 455

Re: soletrader to ltd

The van should be transferred to the company at its market value, with corresponding credit in your Director’s Loan Account, viz. the Ltd pays you its full market value. For income tax / corporation tax purposes probably best that you and the company make an election to treat the van as transferred ...
by RMC
Sat Nov 10, 2018 12:00 pm
Forum: Income Tax
Topic: Work from home abroad rules
Replies: 6
Views: 466

Re: Work from home abroad rules

Generally, residency rules in UK-Jordan DTA can overrule those in DRD3. Both available online.
by RMC
Wed Nov 07, 2018 11:50 pm
Forum: Income Tax
Topic: Work from home abroad rules
Replies: 6
Views: 466

Re: Work from home abroad rules

You can elect to pay Class 2 - but only if you worked in the UK immediately before leaving, and you’ve previously lived in the UK for 3 years in a row and paid 3 years of contributions. This may help with your State Pension entitlement if you have fewer than full 35 years of UK NIC. See www.gov.uk/v...

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