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Where Taxpayers and Advisers Meet

Search found 103 matches

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by simpsonite
Wed Nov 06, 2019 3:58 pm
Forum: Capital Gains Tax, CGT
Topic: Probate market value uplift
Replies: 5
Views: 763

Re: Probate market value uplift

Your client is correct, her base cost will broadly be 50% of the original purchase price plus 50% of the 2010 probate value. If it's a working farm, then there may be hold over claim in point. Hold over relief available on the farm land & outbuildings but it would not apply to the remaining gain af...
by simpsonite
Wed Nov 06, 2019 3:35 pm
Forum: Capital Gains Tax, CGT
Topic: Probate market value uplift
Replies: 5
Views: 763

Re: Probate market value uplift

Your client is correct, her base cost will broadly be 50% of the original purchase price plus 50% of the 2010 probate value. If it's a working farm, then there may be hold over claim in point. So the fact she acquired the half share back from her husband at probate in 2010 will not affect her havin...
by simpsonite
Wed Nov 06, 2019 1:20 pm
Forum: Capital Gains Tax, CGT
Topic: Probate market value uplift
Replies: 5
Views: 763

Re: Probate market value uplift

I would also add that the farm house was not habitable in 1997. It has been valued at £15,000 She renovated the farm house and was able to move in Oct 99. My client has not retained the renovation invoices!! Would HMRC accept a surveyor valuation report of the property at Oct 99 when the renovation ...
by simpsonite
Wed Nov 06, 2019 11:11 am
Forum: Capital Gains Tax, CGT
Topic: Probate market value uplift
Replies: 5
Views: 763

Probate market value uplift

Hi All, My client bought a farm back in 1997 which was in her sole name - I have the land & farmhouse valuations at that time. She married in 2004 and the farm was put into joint names with her husband. Her husband died in 2010 ( I have probate value for the farm). The farm was then reverted back to...
by simpsonite
Mon Oct 07, 2019 11:06 am
Forum: VAT & Excise Duties
Topic: Storage firm selling space & offeriing ince cover
Replies: 3
Views: 6362

Re: Storage firm selling space & offeriing ince cover

Hi Trevor,
Thanks, your input much appreciated. :D

simpsonite
by simpsonite
Sat Oct 05, 2019 9:39 am
Forum: VAT & Excise Duties
Topic: Storage firm selling space & offeriing ince cover
Replies: 3
Views: 6362

Re: Storage firm selling space & offeriing ince cover

In addition it did occur to me whether the ince element could be deemed a disbursement and therefore exempt. However , my client insures the whole storage commercial building . So I feel my client could In no way argue that the ince monies she is billing separately on their sales invoices could be s...
by simpsonite
Fri Oct 04, 2019 2:58 pm
Forum: VAT & Excise Duties
Topic: Storage firm selling space & offeriing ince cover
Replies: 3
Views: 6362

Storage firm selling space & offeriing ince cover

Hi all, My client is a removal & storage business. As part of the service they provide to customers they offer ince cover for customer possessions in addition to their unit storage space fees. My client was treating the insurance element as exempt on her invoicing. I feel this is incorrect as she is...
by simpsonite
Wed Jul 31, 2019 8:36 am
Forum: VAT & Excise Duties
Topic: Working dog/sheep dog
Replies: 4
Views: 12150

Re: Working dog/sheep dog

Hi robbob,
Thanks for your response.
I suppose the dogs could be eaten but i feel that is not the intent here :D

I was not aware of the differing vat treatment regarding the honey bee & bumble bee :shock:
by simpsonite
Wed Jul 31, 2019 8:29 am
Forum: VAT & Excise Duties
Topic: Working dog/sheep dog
Replies: 4
Views: 12150

Re: Working dog/sheep dog

PAYE as it's an employee. Plus an hour for lunch :D

:lol: :lol: :lol:
by simpsonite
Tue Jul 30, 2019 8:26 am
Forum: VAT & Excise Duties
Topic: Working dog/sheep dog
Replies: 4
Views: 12150

Working dog/sheep dog

Hi all,
Could someone clarify whether a sheep dog/working dog is exempt/zero or standard rated for VAT?

Thanks,
simpsonite

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