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Where Taxpayers and Advisers Meet

Search found 36 matches

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by DCF
Tue Nov 17, 2015 8:46 am
Forum: Property Taxation
Topic: Marrying a foreigner who owns a property in their country
Replies: 5
Views: 749

Re: Marrying a foreigner who owns a property in their country

The DTA with China states the gains may be taxed in China. Not will be taxed. This forum concerns UK taxes.
by DCF
Mon Nov 16, 2015 12:02 pm
Forum: Property Taxation
Topic: Marrying a foreigner who owns a property in their country
Replies: 5
Views: 749

Re: Marrying a foreigner who owns a property in their country

I assume you live in the UK. How long has your wife lived in the UK? If she sells the house what does she intend to do with the money?
by DCF
Tue Nov 10, 2015 4:40 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on gifted property
Replies: 7
Views: 799

Re: CGT on gifted property

Survey fees yes but not valuation.
by DCF
Tue Nov 10, 2015 3:59 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on gifted property
Replies: 7
Views: 799

Re: CGT on gifted property

Method looks okay. Legal fees on transfer to the children is a cost of disposal. Valuation fees should not be an allowable cost.
by DCF
Tue Nov 10, 2015 3:19 pm
Forum: Property Taxation
Topic: Stop and Restart
Replies: 4
Views: 869

Re: Stop and Restart

Where a rental business consists of letting property it will normally cease when the taxpayer disposes of the last of the properties they are renting out or, alternatively, they begin to use all the properties for a non-business purpose. For example, if the business only consisted of letting a singl...
by DCF
Mon Nov 09, 2015 9:03 am
Forum: Property Taxation
Topic: Disclosure
Replies: 14
Views: 2492

Re: Disclosure

If the amounts are significant a disclosure facility might be the better route.
by DCF
Sun Nov 08, 2015 9:36 am
Forum: Property Taxation
Topic: Disclosure
Replies: 14
Views: 2492

Re: Disclosure

The fixed penalties are for late filing. These are not tax geared. There are fixed surcharges for late paid tax. Is the amount involved significant?
by DCF
Fri Nov 06, 2015 11:14 am
Forum: Capital Gains Tax, CGT
Topic: PPR and intention of living in the property
Replies: 6
Views: 973

Re: PPR and intention of living in the property

Most unlikely. To qualify as PPR the owner does need to actually live in the property at some time during the period of ownership.
by DCF
Fri Nov 06, 2015 11:11 am
Forum: Property Taxation
Topic: Disclosure
Replies: 14
Views: 2492

Re: Disclosure

Or the error might be significant and regarded as deliberate. General Practitioners often do not have the experience in dealing with HMRC enquires. I have seen this too many times. I am not fishing for business. I am retired. If OP wants to post the exact issue with the tax error, it would be much e...
by DCF
Fri Nov 06, 2015 10:57 am
Forum: Property Taxation
Topic: Loans in Excess of Purchase Price
Replies: 4
Views: 1165

Re: Loans in Excess of Purchase Price

interest paid on loan used to purchase property Is currently deductible but new rules come in from April 2017. Product fee would be tax deductible but since you have technically borrowed the product fee, you cannot claim a deduction for the product fee until you have paid it. Interest paid on the pr...

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