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Where Taxpayers and Advisers Meet

Search found 22 matches

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by NickPrice
Thu Jul 18, 2019 11:09 am
Forum: Income Tax
Topic: Charitable giving. How to account for
Replies: 2
Views: 5692

Re: Charitable giving. How to account for

Thanks. It was from taxed income, so first scenario.
by NickPrice
Wed Jul 17, 2019 7:52 pm
Forum: Income Tax
Topic: Charitable giving. How to account for
Replies: 2
Views: 5692

Charitable giving. How to account for

Hi all, I'm working on my 18-19 Self-assessment. I have a salary and rental income. Combined it puts me slightly into the HR tax bracket by a couple of hundred. However, I had £1100 worth of donations to a charity. How do I account for this, and what impact does this have? Could any kind soul explai...
by NickPrice
Mon Dec 03, 2018 3:55 pm
Forum: Company Taxation
Topic: Company miles in own car
Replies: 1
Views: 619

Company miles in own car

Hello, I'm considering setting up a Ltd co to manage rental property, including my own portfolio. At present I do business miles as a landlord and my accountant uses that as expense. If I set up the Ltd Co. how would the mileage be accounted for? Would the company need to buy a car, or can I use my ...
by NickPrice
Sun Dec 02, 2018 7:44 pm
Forum: Property Taxation
Topic: BTL Transfer of Equity to Daughter
Replies: 5
Views: 976

Re: BTL Transfer of Equity to Daughter

Hi,

Thanks for the reply. I have a portfolio mortgage across a set of properties and the combined LTV is very low, so the bank is not a problem. I was more asking about the HMRC and whether they have any rules.
by NickPrice
Sun Dec 02, 2018 6:30 pm
Forum: Property Taxation
Topic: BTL Transfer of Equity to Daughter
Replies: 5
Views: 976

BTL Transfer of Equity to Daughter

Hi, I own a rental property with a 70%LTV mortgage on a property worth less than 150K. Via a trust deed I intend to transfer equity to my daughter such that she owns and receives income on 45% of the property. Mortgage liabilities are not to be transferred. I understand such a transfer to be stamp d...
by NickPrice
Wed Apr 11, 2018 2:56 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Will Stamp Duty be Payable?
Replies: 1
Views: 1589

Will Stamp Duty be Payable?

Hello, A situation of 4 rental properties, each valued £140-180K. I wish to transfer 20% equity from each property to my daughter by way of trust deed. We want to do individual trust deeds for each property, whereby the 20% value assigned from each property will be less than £40K. If they all fall i...
by NickPrice
Tue Mar 13, 2018 6:21 pm
Forum: International Tax
Topic: Basics about double taxation and split year
Replies: 3
Views: 1278

Re: Basics about double taxation and split year

Thanks for the previous reply. The situation is now leaning towards a single 5 months visit to work in Poland. Under 183 days, I should thus not be liable to worldwide income in Poland, and only on my earned income there. Is that correct? Also when I return, would I need to declare the Polish income...
by NickPrice
Thu Mar 08, 2018 3:50 pm
Forum: International Tax
Topic: Basics about double taxation and split year
Replies: 3
Views: 1278

Re: Basics about double taxation and split year

I guess I need to be more explicit with my questions. First, I wonder if I pay tax on the UK-earned income in the UK, and the Polish tax on the Polish income, do I need to do more by way of the annual self-assessment. Second, what is the Polish tax year?
by NickPrice
Wed Mar 07, 2018 11:30 pm
Forum: International Tax
Topic: Basics about double taxation and split year
Replies: 3
Views: 1278

Basics about double taxation and split year

Hello, I've been offered a job in Poland, while having one in the UK. I have the option of spending 6 months each place per year for a 3-year period (in which case the UK salary would be £25K, and the Polish Euro 20K) or to spend 12-18 months in Poland and then return. From the vantage point of tax ...
by NickPrice
Tue Feb 27, 2018 3:45 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Changes in Stamp Duty with interspouse transfer of equity
Replies: 3
Views: 1312

Re: Changes in Stamp Duty with interspouse transfer of equity

Thank you: that is most helpful. Does that mean that a stamp duty threshold of £125K applies?

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