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Where Taxpayers and Advisers Meet

Search found 11 matches

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by billypiper
Mon Apr 29, 2019 3:46 pm
Forum: Capital Gains Tax, CGT
Topic: Property disposal CGT
Replies: 3
Views: 516

Re: Property disposal CGT

Did you have the property as your main residence before you rented it out?


Where you required to work abroad as part on your employment contract?

Dennis@taxesclear.co.uk
by billypiper
Mon Apr 29, 2019 1:12 pm
Forum: Company Taxation
Topic: Future ER in relation to buyback of company shares
Replies: 1
Views: 9484

Re: Future ER in relation to buyback of company shares

The shares owned by the company will be cancelled completely

Your shares have passed the 5% test for 10 years and have not changed so no new period will apply

Dennis
by billypiper
Mon Apr 29, 2019 1:06 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: My Pension plan
Replies: 2
Views: 9919

Re: My Pension plan

You really need to speak to an IFA on this as the transfer to a contribution scheme is serious to warrant it.

Regards


Dennis
by billypiper
Mon Apr 29, 2019 12:43 pm
Forum: Capital Gains Tax, CGT
Topic: Dual Dwelling under a single title
Replies: 5
Views: 504

Re: Dual Dwelling under a single title

So the second dwelling would be charged to CGT on the eventual selling of the house.

Plus with all the legal issues changing on tenancy, you may wish to take the hit now on the basis that it would make life simpler.

Even if you did not rent it out then CGT will apply.
by billypiper
Mon Apr 29, 2019 12:12 pm
Forum: Capital Gains Tax, CGT
Topic: Dual Dwelling under a single title
Replies: 5
Views: 504

Re: Dual Dwelling under a single title

Dual Dwelling relief is more commonly known as multiple dwelling relief. a dwelling is “a building or part of a building which is suitable for use as a single dwelling or is in the process of being constructed or adapted for such use”. So does your new property consist of one or more dwellings. |If ...
by billypiper
Mon Apr 29, 2019 10:46 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Theory planning with England winning world cup
Replies: 3
Views: 571

Re: Theory planning with England winning world cup

Thanks


This was an old post so say it is current.

I dont think the 5 to 1 odds are relevant as these were just used to illustrate the approach, the spread is the cost of the deal.

Just a theory thought ignoring anti abuse rules
by billypiper
Tue Apr 23, 2019 4:37 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Theory planning with England winning world cup
Replies: 3
Views: 571

Theory planning with England winning world cup

Non domicile resident over 7 years who has accumulated rental profits abroad of £300,000 in one tax year 2009/2010. I want to pay the £30,000 RBC charge, so do not have to declare this in the UK. One thought arises, is that I could wash it through as a spread bet where I would make a gift of the £20...
by billypiper
Thu Feb 20, 2014 2:48 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT and Mother
Replies: 6
Views: 786

Re: IHT and Mother

Thanks section 44

If the purchase price was say £600,000

Could I lend the money to my Mother to buy the property.

Then she would have no IHT to pay on death.

No PET for me

IS GROB still a problem?
by billypiper
Thu Feb 20, 2014 10:42 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT and Mother
Replies: 6
Views: 786

IHT and Mother

Property given to me by my Mother 12 years ago the value was 600,000 at that time. She continues to live in the property . She pays me market rent to avoid the Gift with reservation rules. I want to sell the property and buy a smaller property in my name for £320,000 for her to occupy. I am aware of...
by billypiper
Mon Jul 14, 2008 7:58 am
Forum: Capital Gains Tax, CGT
Topic: Main Residence
Replies: 2
Views: 502

The date of the split was 6 years ago

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