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Where Taxpayers and Advisers Meet

Search found 27 matches

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by 27Spots
Wed Feb 13, 2019 6:19 pm
Forum: Capital Gains Tax, CGT
Topic: Entrepreneurs Relief
Replies: 1
Views: 200

Entrepreneurs Relief

Evening, I’d be grateful for confirmation of my thinking here - holding company owned 50:50 by two shareholders. Holding company owns 100% of trading company. Holding company shareholders wish to ‘sell the business’ - ER is available on the disposal of their shares, isn’t it? (All ownership criteria...
by 27Spots
Wed Sep 26, 2018 11:35 am
Forum: Income Tax
Topic: Property business losses/CGT
Replies: 3
Views: 388

Re: Property business losses/CGT

Thanks... I know it was from 2011, hence me stating it wasn't something I'd seen in my more recent studies and asking for confirmation! I wouldn't want to assume that something is no longer relevant, just because I can't find more recent evidence that it is...the old assumption makes an ass out of u...
by 27Spots
Wed Sep 26, 2018 9:54 am
Forum: Income Tax
Topic: Property business losses/CGT
Replies: 3
Views: 388

Property business losses/CGT

Hi, Taxpayer has losses arising from single property rental business in the year in which the property was sold. Can the losses be used to reduce the chargeable gain? A note on "Tax Insider" says yes, but this isn't something I've seen in my more recent studies...could anyone confirm (with ref. to r...
by 27Spots
Thu Sep 20, 2018 10:27 am
Forum: Capital Gains Tax, CGT
Topic: Holdover relief on charge over property
Replies: 1
Views: 286

Holdover relief on charge over property

Hi, Can anyone advise whether holdover relief is available on a charge over property? Trust holds charge over property, trustees now want to appoint property out to beneficiaries by cancelling the charge. Is the cancellation of the charge a "gift" for holdover relief and if so, how is it valued and ...
by 27Spots
Thu Sep 06, 2018 12:49 pm
Forum: Capital Gains Tax, CGT
Topic: Gift relief - settlor interested trusts
Replies: 2
Views: 322

Gift relief - settlor interested trusts

Hi Can anyone confirm my assumption that gift relief is available on the appointment of assets out of a settlor interested trust, even if the assets are appointed to the settlor? The only restrictions I can find on s260 with respect to gifts to settlor interested trusts are those that apply when the...
by 27Spots
Fri Aug 24, 2018 3:47 pm
Forum: Capital Gains Tax, CGT
Topic: NRCGT - inherited property
Replies: 3
Views: 343

Re: NRCGT - inherited property

Yes - sorry, I completely missed the critical part of my question because I was in a rush earlier. The property has been sold in the U.K. on the beneficiary's behalf, hence me thinking he is liable to NRCGT.
by 27Spots
Fri Aug 24, 2018 11:31 am
Forum: Capital Gains Tax, CGT
Topic: NRCGT - inherited property
Replies: 3
Views: 343

NRCGT - inherited property

Hi, A beneficiary who has been permanently resident in Spain for c. 15 years is the sole beneficiary of an estate in the UK and has been advised that if the property in the estate is appropriated to him prior to being sold, he will have no UK liability to CGT. Non resident for UK tax purposes. Pleas...
by 27Spots
Fri Jul 27, 2018 9:56 am
Forum: Income Tax
Topic: Pre letting repairs
Replies: 3
Views: 358

Pre letting repairs

Hi, I have a situation where parent has moved out of their property and into nursing care. Child has done some minor maintenance work to the property prior to letting out the property. Upon reading what is allowable as a tax deduction, I have found entirely conflicting messages - first, any repairs ...
by 27Spots
Thu Jul 26, 2018 9:29 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: RNRB - unmarried couples
Replies: 3
Views: 575

Re: RNRB - unmarried couples

Thank you, both. Indeed, no ideal solutions!
by 27Spots
Fri Jul 20, 2018 11:40 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: RNRB - unmarried couples
Replies: 3
Views: 575

RNRB - unmarried couples

Hi I have a situation where elderly couple are unmarried and no intention to marry. He is significantly older and therefore likely to die first. Intention is to leave house (it's solely his) on life interest trust to her. My interpretation of rules on RNRB is that because they are unmarried, his RNR...

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