This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Search found 10 matches

Go to advanced search

by ohdearme
Mon Nov 11, 2019 5:54 pm
Forum: Income Tax
Topic: Is there a way to list my Income?
Replies: 2
Views: 2075

Re: Is there a way to list my Income?

Sorry for the delay, many thanks
by ohdearme
Thu Oct 31, 2019 11:59 am
Forum: Capital Gains Tax, CGT
Topic: The Higher the Price I Pay for a House, the Less CGT I pay?
Replies: 5
Views: 4505

Re: The Higher the Price I Pay for a House, the Less CGT I pay?

Thank you both. It seems that where I buy before 24th May next year, there is a deferral. Is this how it works? It seems that the more I pay, the less tax. What have I got wrong? If I buy no property: 1) Disposal: Net sale proceeds 430,335 + service charge £10.115 = £440,450. 2) cost of flat £39,000...
by ohdearme
Thu Oct 24, 2019 11:46 am
Forum: Capital Gains Tax, CGT
Topic: CGT One Year Rule, I am in Shock.
Replies: 15
Views: 19375

Re: CGT One Year Rule, I am in Shock.

Hello All

Thank for your help so far.

Trying to get my head around this. It seems that under Sec 22 and 23 of the tcga 1992 I coudl reduce the chargeable gain if I reinvest the proceeds of the sale.

Can any kind person put this in simple language for me please/
by ohdearme
Thu Oct 24, 2019 11:27 am
Forum: Capital Gains Tax, CGT
Topic: The Higher the Price I Pay for a House, the Less CGT I pay?
Replies: 5
Views: 4505

The Higher the Price I Pay for a House, the Less CGT I pay?

Please help I sold a flat for £440.000 , paying £39,000 for it in 1994. About £100,000 CGT to pay. Yet. I understand (if I have this correct) that if I buy another house within a year or so, CGT will be "deferred" and that the more I pay for the house the less CGT I pay. Is this correct, it seems od...
by ohdearme
Tue Aug 06, 2019 11:40 am
Forum: Capital Gains Tax, CGT
Topic: CGT One Year Rule, I am in Shock.
Replies: 15
Views: 19375

Re: CGT One Year Rule, I am in Shock.

Hello All

Answer to one of you , the flat was only for AST tenants.

Someone said that there was no "rollover " system, I have found however, that there is a CGT deferral relief called Sections 152-160.

I am still reading and reading and reading and grateful to you all.
by ohdearme
Fri Aug 02, 2019 1:51 pm
Forum: Capital Gains Tax, CGT
Topic: CGT One Year Rule, I am in Shock.
Replies: 15
Views: 19375

Re: CGT One Year Rule, I am in Shock.

Thank you everyone, Hello Darthblingbling, yes I bought it for £39,000. Hello Jholm, The flat was only let and only lived in by tenants. This flat was not held in a limited company True Wamstax I still have a substantial amount, but when you are retired and no other income, it is not so big. Nice we...
by ohdearme
Tue Jul 30, 2019 10:32 am
Forum: Capital Gains Tax, CGT
Topic: CGT One Year Rule, I am in Shock.
Replies: 15
Views: 19375

CGT One Year Rule, I am in Shock.

Hello All, I bought a flat to let for £39,0000 in October 1994 and have just sold it for £440,000. I am shocked to understand that I am likely pay about £100,000 in CGT. This money will be our only income apart from state pension. Can this be correct? My main question is that I understand that there...
by ohdearme
Fri Jun 09, 2017 4:53 pm
Forum: Income Tax
Topic: Calculate my Tax
Replies: 1
Views: 1753

Calculate my Tax

Hello All

I have a building society account and an income bond a flat that I let and some shares. I want to list them so that I can calculate my tax.

Do I list it all gross and calculate from there? Perhaps there is a web site that you could point me to please?

Regards
by ohdearme
Tue May 16, 2017 4:51 pm
Forum: Income Tax
Topic: Is there a way to list my Income?
Replies: 2
Views: 2075

Is there a way to list my Income?

Hello, I have just joined.

I have building society accounts, an income bond, a property that I let, an ISA and some shares and do not know how to effectively list them to be able to calculate my tax.

My problem is do I list them gross, net of tax or both? Please help.

Go to advanced search