This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Search found 57 matches

Go to advanced search

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: 71

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: 54

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: 116

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: 245

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: 181

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: 156

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: 111

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.
by Jholm
Tue Jun 11, 2019 8:16 am
Forum: Income Tax
Topic: Contributions to my daughter
Replies: 5
Views: 131

Re: Contributions to my daughter

Your daughter will not declare it in self-assessment either. Nor is there a limit to how much you can give.
by Jholm
Tue Jun 11, 2019 8:15 am
Forum: Income Tax
Topic: Contributions to my daughter
Replies: 5
Views: 131

Re: Contributions to my daughter

Only chargeable transfers need declaring. A lifetime gift becomes chargeable on death if within the 7 year window.

If that were not the case, imagine the volume of declarations HMRC would receive every time someone moved money into someone else's account.....
by Jholm
Fri Jun 07, 2019 1:32 pm
Forum: Capital Gains Tax, CGT
Topic: bought new house and now selling current home
Replies: 5
Views: 158

Re: bought new house and now selling current home

In its' simplest form, if it has always been your main residence, then it will be covered entirely by Principle Private Residence Relief.

Details as below:

https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet

Go to advanced search