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Where Taxpayers and Advisers Meet

Search found 3109 matches

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by bd6759
Sun Dec 01, 2019 9:12 pm
Forum: Capital Gains Tax, CGT
Topic: Is CGT Indexation Allowance Fully Dead?
Replies: 2
Views: 547

Re: Is CGT Indexation Allowance Fully Dead?

Indexation allowance was withdrawn and is not available.
by bd6759
Sun Nov 24, 2019 5:11 pm
Forum: Income Tax
Topic: Advice for freelancer re: sole trader/ltd company
Replies: 1
Views: 284

Re: Advice for freelancer re: sole trader/ltd company

1. Probably not. The principle is that travel to and from your home is not exclusively for the purposes if your business. 2. That depends on lots of things. You need to add up the pros and cons of the different tax rates and administrative costs. You cannot re-write history. Your customers would nee...
by bd6759
Sat Sep 28, 2019 10:17 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on House rented during part of ownership
Replies: 2
Views: 4975

Re: CGT on House rented during part of ownership

Have you read the SA108 notes

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/787347/sa108_notes_2019.pdf
by bd6759
Wed Sep 25, 2019 11:39 pm
Forum: General
Topic: Milage expense calculation
Replies: 5
Views: 6469

Re: Milage expense calculation

You don't need to reimburse yourself anything. On the other hand, you can draw out as much business profits as you wish. They are your profits and you will be taxed on them whether you draw them or not. You do not count the petrol or any other motor expenses as "expenses" in your profit and loss acc...
by bd6759
Wed Sep 25, 2019 11:25 pm
Forum: Tax Investigations and Enquiries
Topic: Tax query for 2013-2014 - overpaid
Replies: 7
Views: 12068

Re: Tax query for 2013-2014 - overpaid

You "Presume" it's for unpaid tax, but that may not be the case. It may be that you have found a sympathetic Inspector who has opened the enquiry to make sure you get your refund (I know I did this once or twice in my Revenue days). : That's nonsense. This isn't a s9A enquiry into a tax return. HMR...
by bd6759
Wed Sep 25, 2019 11:20 pm
Forum: Income Tax
Topic: tax on rental income
Replies: 16
Views: 11625

Re: tax on rental income

I think pawncob means that trusts over land must be in writing (although not necessarily by deed)
by bd6759
Wed Sep 25, 2019 11:17 pm
Forum: International Tax
Topic: Declaring income from foreign properties
Replies: 2
Views: 5453

Re: Declaring income from foreign properties

All expenditure incurred solely for the purpose of the letting business is allowed as long as it is not capital expenditure. Generally letting agents fees and repairs are allowed. You need to apportion the letting income so that it coincides with the tax year: 9/12ths of one calendar year plus 3/12t...
by bd6759
Tue Sep 24, 2019 11:26 pm
Forum: International Tax
Topic: Dual tax resident - selling a UK property... CGT!
Replies: 5
Views: 5901

Re: Dual tax resident - selling a UK property... CGT!

I should have read all of the question
by bd6759
Tue Sep 24, 2019 9:24 am
Forum: International Tax
Topic: Dual tax resident - selling a UK property... CGT!
Replies: 5
Views: 5901

Re: Dual tax resident - selling a UK property... CGT!

Article 13(6) does not apply.

This is immovable property referred to at 13(1), so will be taxed in UK even if you are resident in Spain.

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