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Where Taxpayers and Advisers Meet

Search found 51 matches

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by Dev_1
Tue Mar 17, 2020 6:22 pm
Forum: Capital Gains Tax, CGT
Topic: Letting relief and PPR change
Replies: 7
Views: 851

Re: Letting relief and PPR change

Hello,

Would someone please able to clarify for me as this is starting to worry me.

Any help as always greatly appreciated.
Thanks
by Dev_1
Tue Mar 17, 2020 4:41 pm
Forum: Capital Gains Tax, CGT
Topic: Letting relief and PPR change
Replies: 7
Views: 851

Re: Letting relief and PPR change

Hi maths,

Thank you for hot reply.

But in relation to my query any advice in relation to that?.

We just want to make sure we are not caught by whether completion takes place or if land registry would also need to be updated prior to 6th April.

Thanks
Anil
by Dev_1
Tue Mar 17, 2020 3:51 pm
Forum: Capital Gains Tax, CGT
Topic: Letting relief and PPR change
Replies: 7
Views: 851

Re: Letting relief and PPR change

Hello, Thank you for your comments. I should have explained better. My mother is gifting her remaining 50% share or her former home which is now let. This property concerned we both currently own as tenants in common. She is simply gifting her remaining share to me. Solicitor are in the process of t...
by Dev_1
Tue Mar 17, 2020 1:55 pm
Forum: Capital Gains Tax, CGT
Topic: Letting relief and PPR change
Replies: 7
Views: 851

Letting relief and PPR change

Good afternoon, I would be grateful if someone can confirm the following. I am due to receive a 50% share of a property with no consideration, gift. This transfer will make me sole owner after the transfer is completed. To ensure that this takes place prior to letting relief and PPR changes. Would t...
by Dev_1
Wed Mar 11, 2020 8:05 pm
Forum: Property Taxation
Topic: Property Tax
Replies: 3
Views: 614

Re: Property Tax

Thank you for your reply. I was reading my own question back not sure if I put it right. 5: - Would I be able to transfer a 1% of a rental property which is currently in my sole name to partner, and I retain 99% ownership. If the above is possible then would I be able to split the rental income from...
by Dev_1
Wed Mar 11, 2020 3:14 pm
Forum: Property Taxation
Topic: Property Tax
Replies: 3
Views: 614

Property Tax

Good afternoon, I am in the process of a property transaction which will ultimately mean i become the owner of a buy to let property in my sole name. I am currently a basic rate tax payer, however by receiving the rental income from the buy to let in the near future it will push me in the higher rat...
by Dev_1
Mon Mar 09, 2020 7:05 pm
Forum: Capital Gains Tax, CGT
Topic: CGT- Help
Replies: 5
Views: 635

Re: CGT- Help

Hi Maths,

You are a true gentleman, thank you. Your assistance is very much appreciated.

I am sure this does not concern us but would stamp duty be an issue.

It’s a gift, a buy to let, no money exchanging hands, no mortgage?.

Thanks
by Dev_1
Sat Mar 07, 2020 8:19 pm
Forum: Capital Gains Tax, CGT
Topic: CGT- Help
Replies: 5
Views: 635

Re: CGT- Help

Hi Maths, I really can’t thank you enough you are a star. Just to confirm the first gift of 50% in 2010 to son (me). Would we need to determine the value of the property at that point i.e the 50% value of what was gifted to me and in fact the value of the entire property or would you say that would ...
by Dev_1
Sat Mar 07, 2020 3:04 pm
Forum: Capital Gains Tax, CGT
Topic: CGT- Help
Replies: 5
Views: 635

CGT- Help

Hello, First of all I appreciate all the help people have given in relation to my position i am just trying to figure everything out with the figures i now have which are final. 1: - Property purchase price £72,000 (1986) My mother & father 2: - Probate value of property £250,000 as of (2007) passed...
by Dev_1
Fri Mar 06, 2020 9:08 pm
Forum: Capital Gains Tax, CGT
Topic: PPR & Letting relief
Replies: 0
Views: 457

PPR & Letting relief

Hello. I was wondering if someone can assist. We have received a formal valuation for a property which is currently held as tenants in common 50/50 (Mother & son) Concerned property was my mother’s principal residence from 1986. She owned this property as joint tenants with my father. She inherited ...

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