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Where Taxpayers and Advisers Meet

Search found 26 matches

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by rks2018
Sat Jan 04, 2020 7:57 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 705

Re: Private use adjustment

Has meant extra tax of around 1200 to be paid but rather now than later .
by rks2018
Sat Jan 04, 2020 7:55 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 705

Re: Private use adjustment

Hello yes all income and expenditure is split 50/50 . Only difference in change I made was to remove council tax and to add 1/3 to private use on sisters part of return
.
Thanks
by rks2018
Sat Jan 04, 2020 5:02 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 705

Re: Private use adjustment

Thanks for your info, sister does not get any beneficial at all , but as its shared ownership I just split the tax, earnings , costs ect 50/50 when doing our self assessment and pay the tax owed . Though just had to ammend last years and this years expenditure and private use as I didnt put any figu...
by rks2018
Tue Dec 31, 2019 7:59 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 705

Re: Private use adjustment

My sister name is on both properties , at the time I couldn't get mortgage without her being in mortgage , though all payments for bills and mortgage has always been made myself . we are shared owners , and she a lower tax payer than I . iv kept it like that bec If I change or transfer share of equi...
by rks2018
Tue Dec 31, 2019 7:37 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 705

Re: Private use adjustment

Hi I didnt think it did ? My sister is also named on property I live in , its only way I could get the property at the time , TMB suggested it , so I thought rent a room relief only applied to if u own 1 property ? Unless I'm mistaken The house my sister lives in is her main home . the house I live ...
by rks2018
Tue Dec 31, 2019 4:52 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 705

Re: Private use adjustment

2016/17 was about 7500 ,
2017/18 is £5700
I dont live there , just my sister with 2 lodgers ATM
Thanks
by rks2018
Tue Dec 31, 2019 4:50 pm
Forum: Property Taxation
Topic: Cgt before and after April 2020
Replies: 3
Views: 453

Re: Cgt before and after April 2020

Sorry yes 50/50 share owners
by rks2018
Tue Dec 31, 2019 4:49 pm
Forum: Property Taxation
Topic: Cgt before and after April 2020
Replies: 3
Views: 453

Re: Cgt before and after April 2020

Hi , my sister was between my parents and this house constantly due to my parents illness , until June 2015 , I calculated she spent around 120 months in total at this house up to june 2015 . since June 2015 shes had lodgers , and we registered for self assessment then , She occupies approx 40% of p...
by rks2018
Tue Dec 31, 2019 2:01 pm
Forum: Property Taxation
Topic: Cgt before and after April 2020
Replies: 3
Views: 453

Cgt before and after April 2020

Can anyone advise me what difference in cgt will be if I sell before April 2020 please . ? We are joint owners ,brother and sister Purchase price £11400 year 2000 Lived in for 24months main residence . Then sister lived in on and off total 12 years to date . I only lived there 1st 2 years Current va...
by rks2018
Mon Dec 30, 2019 2:53 pm
Forum: Property Taxation
Topic: Self Assessment return
Replies: 2
Views: 557

Re: Self Assessment return

Thanks

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