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Where Taxpayers and Advisers Meet

Search found 20 matches

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by anjo56
Thu Aug 01, 2019 8:02 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT Gift - Quick query
Replies: 8
Views: 12278

Re: IHT Gift - Quick query

Many thanks. Much appreciated.
by anjo56
Fri Jul 26, 2019 6:52 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT Gift - Quick query
Replies: 8
Views: 12278

Re: IHT Gift - Quick query

Thank you Lee. Total about £900 for mortgage arrangement fee and property survey. When you mention annual exemptions, are you referring to the £3000 gift provision? Am just starting out on this journey.
by anjo56
Fri Jul 26, 2019 11:56 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT Gift - Quick query
Replies: 8
Views: 12278

IHT Gift - Quick query

I am gifting some money to my son for a property purchase. Some of the fees are payable by credit card only and he doesn't have one. I have made a couple of payments using my card on his behalf. Are these eligible to be counted as a gift as I am not asking for repayment? Thank you.
by anjo56
Tue Jan 08, 2019 2:38 pm
Forum: Capital Gains Tax, CGT
Topic: Sale of Property and Timing of CGT Liability
Replies: 3
Views: 537

Re: Sale of Property and Timing of CGT Liability

Thanks for the reply and sorry for delay in acknowledging. This is the first time I've been exposed to any CGT considerations but I thought once the taxable gain (after allowances etc) has been quantified that the whole amount would be subject to either 18% or 28%. Am I interpreting your reply corre...
by anjo56
Tue Jan 01, 2019 6:44 pm
Forum: Capital Gains Tax, CGT
Topic: Sale of Property and Timing of CGT Liability
Replies: 3
Views: 537

Sale of Property and Timing of CGT Liability

I have a flat bought in 1982 which was my main residence for almost 20 years. I moved out in 2001 and it has been variously tenanted and empty since that time. I saw in the last Budget that the Chancellor is considering changes to the various reliefs which would increase the tax bill from Apr 2020. ...
by anjo56
Sun Apr 01, 2018 7:43 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Gift without Reservation - mechanics any pitfalls?
Replies: 1
Views: 762

Gift without Reservation - mechanics any pitfalls?

My husband and I want to make a Gift without Reservation in the shape of a deposit for our son to buy his first property. We understand that if we survive 7 years from the date of transfer it will be exempt from IHT. We have written a letter to our son confirming that the property will be in his sol...
by anjo56
Tue Feb 13, 2018 10:18 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Keeping a Mortgage for IHT Purposes?
Replies: 4
Views: 654

Re: Keeping a Mortgage for IHT Purposes?

Thanks both.
someone, I don't actually understand your last question in brackets? Sorry, putting toe in the water with all this stuff.
by anjo56
Fri Feb 09, 2018 1:01 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Keeping a Mortgage for IHT Purposes?
Replies: 4
Views: 654

Keeping a Mortgage for IHT Purposes?

Probably a very basic question but is there any advantage in keeping an outstanding mortgage in later years in the hope of dying before it is paid off? Would that help reduce IHT? My husband and I have 2 x BTL with interest only mortgages totalling £524k. We are in our early 60s. Thanks for any thou...
by anjo56
Sat Jan 27, 2018 9:32 am
Forum: Property Taxation
Topic: Plan to get son on property ladder - will it work?
Replies: 5
Views: 709

Re: Plan to get son on property ladder - will it work?

Thanks for pointing out my misunderstanding - very helpful as we are in uncharted waters here. Ultimately, we are trying to get a place for him to live in. We can't capital-raise enough to buy a place for him but could sustain an interest-only mortgage, with a lump sum to reduce the loan when we ret...
by anjo56
Fri Jan 26, 2018 9:08 pm
Forum: Property Taxation
Topic: Plan to get son on property ladder - will it work?
Replies: 5
Views: 709

Re: Plan to get son on property ladder - will it work?

Hello again AGoodman Have looked at your reply more closely and realise I might not fully understand - sorry this is all new to me. So, how does the trigger work - is it £40k as an absolute amount or a % of the property value? I think at the end of the day, it is preferable to get him on the propert...

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