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Where Taxpayers and Advisers Meet

Search found 60 matches

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by Jholm
Wed Jul 17, 2019 12:02 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT - Gifts
Replies: 1
Views: 3

Re: IHT - Gifts

Ignoring the specific bank account it is paid from, who is actually making the gift?
by Jholm
Tue Jul 09, 2019 9:30 am
Forum: Capital Gains Tax, CGT
Topic: Returning to main property to sell
Replies: 4
Views: 118

Re: Returning to main property to sell

In all honesty it is fairly basic stuff for a tax adviser so I wouldn't get too caught up hunting around. You should be able to find someone quite easily.
by Jholm
Mon Jul 08, 2019 1:07 pm
Forum: Capital Gains Tax, CGT
Topic: Returning to main property to sell
Replies: 4
Views: 118

Re: Returning to main property to sell

You have seemingly been misadvised and to be honest, a letting agent isn't best placed to give tax advice. It was your main residence from 1984 to 1993 and has not been since (certain reasonable assumptions made). You will get relief for the period it was your main residence. The relief is based on ...
by Jholm
Mon Jun 24, 2019 4:13 pm
Forum: Professionals in Practice & Industry
Topic: Professional fees vs. online tax self-assessment
Replies: 3
Views: 227

Re: Professional fees vs. online tax self-assessment

Employment pages, box 15 under 'other benefits' (no box specifically for subscriptions). HOWEVER.....!!! Both of those are on the following list: https://www.gov.uk/government/publications/professional-bodies-approved-for-tax-relief-list-3/approved-professional-organisations-and-learned-societies#m ...
by Jholm
Mon Jun 24, 2019 3:11 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT transferable residential Nil rate band
Replies: 1
Views: 93

Re: IHT transferable residential Nil rate band

Re: RNRB, 100% was unused at W's death in 2011 as the RNRB has only been in existence since 6 April 2017, therefore 100% uplift is available, provided the relevant conditions are met.
by Jholm
Fri Jun 14, 2019 12:51 pm
Forum: Income Tax
Topic: seeking HMRC approval for claiming a capitalloss on the sale of apartments in Bulgaria in 2009
Replies: 2
Views: 155

Re: seeking HMRC approval for claiming a capitalloss on the sale of apartments in Bulgaria in 2009

Surely your £9,000 gain is covered by the annual exemption anyway? Or do you mean taxable gain of £9,000?
by Jholm
Fri Jun 14, 2019 11:11 am
Forum: Property Taxation
Topic: selling a BTL and change of ownership
Replies: 10
Views: 322

Re: selling a BTL and change of ownership

Effective as of the date it is set up. Cannot be backdated, otherwise people would drastically manipulate past tax bills.
by Jholm
Fri Jun 14, 2019 9:12 am
Forum: General
Topic: SATR - Deduction in March but repair in May.
Replies: 8
Views: 238

Re: SATR - Deduction in March but repair in May.

Unless you have a particular reason not to do so, you could use the cash basis, meaning you would account for actual payments and deductions in the tax year (basically as per Apriol to March letting statements). This varies from the accruals basis, which unless you know what you are doing, can get m...
by Jholm
Thu Jun 13, 2019 9:03 am
Forum: Company Taxation
Topic: use of home allowance
Replies: 2
Views: 190

Re: use of home allowance

That allowance is for simplified expenses. You can choose to claim actual rates, proportioned to the element of business usage. Often this is hard to quantify accurately.
by Jholm
Wed Jun 12, 2019 5:29 pm
Forum: Business Tax
Topic: Rent Refund Tax Question
Replies: 2
Views: 146

Re: Rent Refund Tax Question

I would say to include it in this years turnover. If it was declared as an expense, you claimed tax relief on it. Therefore, the other side of the coin is to declare it within your turnover.

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