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Where Taxpayers and Advisers Meet

Search found 42 matches

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by mill
Fri Jul 10, 2020 10:24 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp duty holiday
Replies: 2
Views: 758

Stamp duty holiday

We have a main home (a detached house) and in addition a small buy to let flat purchased many year ago and in which we have never lived . We would like to take advantage of the stamp duty holiday to sell our main home (a house) and replace it with a new main home (a large flat) The purchase price of...
by mill
Mon May 04, 2020 9:37 pm
Forum: General
Topic: General
Replies: 3
Views: 1159

Re: General

Thank you Jerome.lane, but my efforts to date to locate a pension advisor who is really expert in this complex field has so far been costly but quite fruitless. I am not seeking free advice and am happy to pay for it, if I can locate a pension adviser who is really expert. Any referral would be grea...
by mill
Sun Apr 26, 2020 5:00 pm
Forum: General
Topic: General
Replies: 3
Views: 1159

General

I have a final salary occupational pension and also put some of my ISA into a SIPP which has a current value around £65,000. My total pension pot is in excess of the current lifetime allowance and I will have a tax charge on the excess once I take my pension. I have been advised to take my SIPP befo...
by mill
Sun Apr 19, 2020 11:30 am
Forum: Capital Gains Tax, CGT
Topic: CGT
Replies: 4
Views: 959

CGT

Some years ago my sister and I purchased a house for the use of our parents who lived in it rent free. One parent has recently died and the other has moved into a care home. My sister would now like to move into the house and make it her permanent home. I am prepared to gift my half to my sister but...
by mill
Wed Aug 21, 2019 12:22 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: stamp duty
Replies: 1
Views: 13790

stamp duty

Several years ago my husband and I purchased a holiday home. At the time we drew up a declaration of trust in the names of myself, my husband and our two adult children which specified that the property was held in trust by the four for the benefit of only myself and my husband. The purpose at the t...
by mill
Fri Jan 25, 2019 2:00 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: RNRB allowance
Replies: 1
Views: 655

RNRB allowance

On the assumption that the second to die of a couple (the first to die having left everything to the second to die) then the second to die has a current exemption of £900,000 on condition that the family home is left to the children or grandchildren. 1) If the family home is valued at less than the ...
by mill
Tue Jan 15, 2019 1:03 pm
Forum: Capital Gains Tax, CGT
Topic: CGT liability
Replies: 1
Views: 534

CGT liability

On the recent demise of my spouse our home, which was registered as joint tenants, automatically passed to my sole ownership. Prior to our moving in (as a downsizing action some 3 years ago) the property had been rented out for many years, and thereby carried a significant GCT liability. In that inh...
by mill
Fri Jun 22, 2018 11:50 am
Forum: Capital Gains Tax, CGT
Topic: CGT liaability
Replies: 3
Views: 789

Re: CGT liaability

Thank you both I response to bd6759 we have both lived in the flat since our original purchase. If there is no UK CGT liability resulting from the transfer to me, then we would like to process the transfer prior to my uncles departure for the United States to avoid any future involvement of the IRS ...
by mill
Thu Jun 21, 2018 6:41 pm
Forum: Capital Gains Tax, CGT
Topic: CGT liaability
Replies: 3
Views: 789

CGT liaability

My uncle and I bought a flat together about 4 years ago. This is the only property we own and it is therefore our primary home. Should we sell it we have been informed that it is therefore exempt from any capital gains tax on its substantial increase in value My uncle is moving to the United States ...
by mill
Mon Apr 02, 2018 12:45 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Life interest trust
Replies: 1
Views: 618

Re: Life interest trust

In the event of your untimely demise the parents could find themselves homeless. Take appropriate action without delay.

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