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Where Taxpayers and Advisers Meet

Search found 47 matches

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by ian.wright@beechams.
Fri Apr 08, 2005 3:27 am
Forum: Property Taxation
Topic: Incorporation of Sch D property development business
Replies: 0
Views: 948

<t>I have a client who rents properties and also buys&sells properties. I have separated these two distinctly as one which is SchA and the other as a trade SchD(the buying and selling).<br/> <br/> My client wants to incorporate his SchD business, put some current projects in, do a few more deals...
by ian.wright@beechams.
Tue Mar 01, 2005 2:36 am
Forum: Business Tax
Topic: Allowances for self employed
Replies: 1
Views: 4772

<t>Oh dear, I think you need a new accountant if he can not answer these questions. I can only give you brief answers as it would take too much of my unpaid time try to answer your queries.<br/> <br/> 1. You can claim pretty much everything relating to your business, from paper clips to a spare room...
by ian.wright@beechams.
Tue Mar 01, 2005 2:18 am
Forum: Capital Gains Tax, CGT
Topic: Tax on a lottery win "gift"
Replies: 5
Views: 6342

<t>It is a gift and the seven years you mention are correct, being a potentially exempt transfer.<br/> <br/> When the gift is made, you could treat £3000 of it out of the annual exemtion or double up to £6000 if lasts years one was not used.<br/> <br/> There is no CGT related to a gift of cash. Th...
by ian.wright@beechams.
Tue Mar 01, 2005 2:10 am
Forum: Capital Gains Tax, CGT
Topic: woodlands
Replies: 1
Views: 1272

Please read......
http://www.inlandrevenue.gov.uk/heritage/terms.htm

I chat with the Inland Revenue would be very helpful in your query.

Regards

Ian
by ian.wright@beechams.
Tue Mar 01, 2005 2:01 am
Forum: Income Tax
Topic: What and how can I get back tax?
Replies: 1
Views: 1009

<r>Hopefully you have kept all your P60, P45 & P11D forms since you stared working in the UK.<br/> <br/> If you bundle them all together and set off to your local inland revenue tax office, someone should be able to help you fill out either Self Assessment forms or for R40 (tax repayment claim f...
by ian.wright@beechams.
Tue Mar 01, 2005 1:53 am
Forum: International Tax
Topic: For non-resident investing in UK, what is tax at source?
Replies: 1
Views: 1138

UK Unit Trusts are deemed to have had tax deducted at 10%. This is the tax deducted at source.

When investing you should ask your financial adviser or representative of the company of the tax implications.
by ian.wright@beechams.
Tue Mar 01, 2005 1:46 am
Forum: Income Tax
Topic: company car or allowance
Replies: 1
Views: 1150

<t>Your question is more complext than you think with many variables and a long calculation.<br/> <br/> It would involve on the part of the company, the cost of petrol, insurance, tax relief, tax/nic due and all other cost and reliefs due.<br/> <br/> On the employee side you would have to way up cos...
by ian.wright@beechams.
Tue Mar 01, 2005 1:36 am
Forum: Capital Gains Tax, CGT
Topic: Records for Capital Gains Tax
Replies: 1
Views: 1174

They would have to accept your word as long as it is true and fair.
by ian.wright@beechams.
Tue Mar 01, 2005 1:31 am
Forum: Capital Gains Tax, CGT
Topic: Capital Gains Tax
Replies: 2
Views: 1399

A transfer to your wife (who lives with you) will be treated as though she had originally owned the shares back in 1986. She will take on the base cost and have use of indextaion to April 1998 and taper relief from there on.
by ian.wright@beechams.
Sun Jan 30, 2005 3:46 am
Forum: Property Taxation
Topic: Tax on renting my main Home, but its a joint venture - please help
Replies: 1
Views: 1013

<t>You are only allowed the interest element in your mortgage payments against your rental profits. I am assuming this mortgage payment include capital and therefore a profit is being made.<br/> <br/> There are other expenses of course, managment costs, repairs, advertising etc. Also if the property...

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