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Where Taxpayers and Advisers Meet

Search found 10667 matches

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by Peter D
Mon Feb 04, 2019 4:18 pm
Forum: Capital Gains Tax, CGT
Topic: removing joint ownership
Replies: 9
Views: 408

Re: removing joint ownership

Is her name on the deeds at the registray office. Regards Peter
by Peter D
Tue Jan 22, 2019 11:24 pm
Forum: Property Taxation
Topic: When you sell your property, how long do you have to let HMRC know
Replies: 4
Views: 366

Re: When you sell your property, how long do you have to let HMRC know

Was this a BTL property of did you live there as you home. Regards Peter
by Peter D
Fri Dec 14, 2018 5:13 pm
Forum: Capital Gains Tax, CGT
Topic: Property CGT
Replies: 2
Views: 248

Re: Property CGT

Yes a conservatory is a capital expense and is deductible in the calculation of CGT. Regards Peter
by Peter D
Thu Sep 06, 2018 1:25 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on BTL that was previously main residence
Replies: 1
Views: 269

Re: CGT on BTL that was previously main residence

And - Letting Relief.
Please provide dates, at least mm/yyyy and the costs of the capital additions. And the cost of purchase fees, and legal fees of sale. Regards Peter
by Peter D
Sun Aug 19, 2018 10:21 am
Forum: Capital Gains Tax, CGT
Topic: CGT rate - easy? query!
Replies: 2
Views: 351

Re: CGT rate - easy? query!

IT and CGT are not interchangeable. Regards Peter
by Peter D
Sat Aug 18, 2018 9:47 am
Forum: Capital Gains Tax, CGT
Topic: CGT calc help please
Replies: 2
Views: 341

Re: CGT calc help please

Read this.
https://www.gov.uk/tax-sell-property/work-out-your-gain

This may apply to you.

Regards Peter
by Peter D
Fri Aug 17, 2018 11:16 am
Forum: Capital Gains Tax, CGT
Topic: CGT calc help please
Replies: 2
Views: 341

Re: CGT calc help please

I need more accurate dates and you individual income in the FY of disposal but it looks like this.
Purchase 90,000
Disposal 125,000
Total Gain 32,092
PRR 0 0
Capital Gain 32,092
Lett Relief 0 Qual Days
Net Gain 32,092
CG Allow 22,600
CGT 854 0
CGT 854 0

CGT Bill 1,709

Regards Peter
by Peter D
Thu Aug 09, 2018 10:43 am
Forum: Property Taxation
Topic: Property Sale
Replies: 4
Views: 441

Re: Property Sale

Letting Relief will not be available to you so just your un-used Capital Gains Allowance presently £11,700. Minus acquisition and selling costs. The rate of CGT depends on you total Income in the year of disposal. Regards Peter
by Peter D
Wed Aug 08, 2018 8:07 pm
Forum: Property Taxation
Topic: Property Sale
Replies: 4
Views: 441

Re: Property Sale

Have you lived in the property since you purchased it as your only home. ?

Regards Peter
by Peter D
Thu Jun 21, 2018 7:18 pm
Forum: Capital Gains Tax, CGT
Topic: CGT CALC ON RENTED PROPERTY
Replies: 11
Views: 1347

Re: CGT CALC ON RENTED PROPERTY

My Mistake:

Purchase 117,555 21/05/2002
Disposal 369,000 11/12/2017
Total Gain 242,432
PRR 165,532 127 186
Capital Gain 76,900
Lett Relief 40,000 Qual Days 1807
Net Gain 36,900
CG Allow 11,300
CGT 1,908 4,201
CGT 0 0

CGT Bill 6,108


Regards Peter

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