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Where Taxpayers and Advisers Meet

Search found 69 matches

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by Herbs16
Fri Nov 01, 2019 12:44 pm
Forum: Company Taxation
Topic: Credit union interest
Replies: 1
Views: 724

Credit union interest

Hi
Can anyone help if a Credit Union has National Savings Certificates, which are free from UK income tax & capital gains, do we have to pay Corporation Tax on the index linked return & interest?
thanks
by Herbs16
Thu Sep 12, 2019 2:02 pm
Forum: Property Taxation
Topic: Termination of lease
Replies: 1
Views: 4601

Termination of lease

Hi
My friend owns a company which owns a property, this property leases to a shop who has terminated the 10 year lease early and they have paid a large sum to settle.

Is this whole sum taxable at 19% CT? any reliefs?
Thanks
by Herbs16
Wed Jun 05, 2019 2:28 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: New buildings allowance
Replies: 0
Views: 7991

New buildings allowance

Hi all
Is this worth claiming anymore?
If it reduces your properties base cost, is there any point?
Any advice or explanations would be appreciated.
Thanks very much
by Herbs16
Thu Apr 18, 2019 9:48 am
Forum: Company Taxation
Topic: Buildings allowance
Replies: 0
Views: 9250

Buildings allowance

Hi all
Is this worth claiming anymore?
If it reduces your properties base cost, is there any point?
Any advice or explanations would be appreciated.
Thanks very much
by Herbs16
Wed Oct 31, 2018 3:34 pm
Forum: Capital Gains Tax, CGT
Topic: Entrepreneurs relief
Replies: 1
Views: 319

Entrepreneurs relief

Hi An individual owns some land which he trades as a dirt track and the income goes through a limited company, no rent is charged by the individual If the land is sold can he claim entrepreneurs relief or should he put the land in the companies name? Any help or reference to legislation would be a b...
by Herbs16
Fri Oct 26, 2018 10:44 am
Forum: VAT & Excise Duties
Topic: Vat on building purchase
Replies: 3
Views: 769

Re: Vat on building purchase

But if we don’t opt to tax it, then we can’t claim the vat on the land invoice and also the construction itself?

It won’t be rented out for many years, it is for us to trade out of.

thanks
by Herbs16
Wed Oct 24, 2018 4:36 pm
Forum: VAT & Excise Duties
Topic: Vat on building purchase
Replies: 3
Views: 769

Vat on building purchase

I am buying land as a limited company and putting a building on it solely for the limited company to use. To claim back the vat relating to the land and building, do I need to complete an option to tax form for the land and buildings? Its from a developer who is charging vat

Many thanks
by Herbs16
Mon Oct 15, 2018 11:57 am
Forum: Income Tax
Topic: CGT query
Replies: 1
Views: 336

CGT query

Mr L owns a rental property, cost £32k in 1996

Transferred 50% to spouse and jointly owned from 2011, value then was circa £110k

now valued at £130k, always rented out

Mr £35k income, Mrs £33k

CGT please?
by Herbs16
Fri Aug 17, 2018 9:38 am
Forum: Capital Gains Tax, CGT
Topic: Gain on shares sale
Replies: 2
Views: 792

Gain on shares sale

Can someone help please

My friend has a company, husband and wife 50/50 set up they are separating and the company is buying back the shares from the wife, she earns £100k, will she pay 28% cgt on the gain or can she claim entrepreneurs relief and pay 10%, she will not trade again.
Thanks
by Herbs16
Fri Aug 17, 2018 9:35 am
Forum: Capital Gains Tax, CGT
Topic: CGT calc help please
Replies: 2
Views: 396

CGT calc help please

Morning Forum
Can someone help on my numbers please to calculate the gain

Property jointly owned, husband and wife, rented throughout.

Purchased October 2007 for £90000
Purchase and selling fees £2908

Sold October 2017 for £125000

Thanks

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