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 28 matches

Go to advanced search

by mike.hayes@firstcapi
Fri Aug 06, 2004 2:21 am
Forum: Capital Gains Tax, CGT
Topic: 31.3.1982 valuation of a property used for private and business lettings
Replies: 2
Views: 2989

<t>Schiff,<br/> <br/> No the Inland Revenue will no accept a guess. They will almost certainly ask the district valuer (who also values for Council Tax) to provide a value.<br/> <br/> The 1993 balance sheet value, i.e. cost plus enhancement expenditure would be OK but only if it can be backed up by ...
by mike.hayes@firstcapi
Fri Aug 06, 2004 2:01 am
Forum: Capital Gains Tax, CGT
Topic: CGT. Transfer house proceeds to wife?
Replies: 2
Views: 1472

<t>Swift,<br/> <br/> The short answer is no, transfering the proceeds does not transfer the gain. If you were to transfer the property into your non-working wife's name prior to sale, it might reduce the tax, but it depends on the size of the gain and the level of your income. <br/> <br/> Without fi...
by mike.hayes@firstcapi
Wed Aug 04, 2004 3:49 am
Forum: Income Tax
Topic: Self Employed? help?!
Replies: 4
Views: 2007

<t>'The Inland Revenue are likely to consider you an employee' - You can't know this without knowing what the terms and conditions are. The worst that could happen is that he is treated as an employee, and either he or his 'employer' has to deduct PAYE. If he has to, then i'm sure this forum can hel...
by mike.hayes@firstcapi
Wed Aug 04, 2004 3:34 am
Forum: International Tax
Topic: Wish to move abroad but have tax problems at home ...
Replies: 6
Views: 2198

<t>This is a site for giving advice, not for selling services 'I would be happy to represent you for both UK and US taxes' is the latter not the former.<br/> <br/> Before you add your comment/reply, please read the following:<br/> <br/> We are trying to discourage what looks like blatant advertising...
by mike.hayes@firstcapi
Wed Aug 04, 2004 1:50 am
Forum: Income Tax
Topic: Time of yearfor Early retirement
Replies: 1
Views: 1171

<t>Dear Roy,<br/> <br/> From where i am sitting, the best time of year is yesterday!<br/> <br/> There is no real answer to this one, it depends on your income pre and post retirement. At the end of the day you only pay tax based on your income, reducing your income to save tax is like letting 'the t...
by mike.hayes@firstcapi
Wed Aug 04, 2004 1:37 am
Forum: International Tax
Topic: Wish to move abroad but have tax problems at home ...
Replies: 6
Views: 2198

<t>Meditation,<br/> <br/> Firstly I know nothing about visa applications, but in the twenty or so years i have been dealing with clients many of them have gone to live abroad, and i have continued to deal with their UK tax.<br/> <br/> I have heard of people being arrested by US immigration because t...
by mike.hayes@firstcapi
Wed Aug 04, 2004 1:02 am
Forum: Income Tax
Topic: Self Employed? help?!
Replies: 4
Views: 2007

<r>dear Joe,<br/> <br/> The best starting point is the Inland Revenue booklet IR56, this is available on their website:-<br/> <br/> <URL url="http://www.inlandrevenue.gov.uk/pdfs/ir56.pdf">http://www.inlandrevenue.gov.uk/pdfs/ir56.pdf</URL><br/> <br/> In general 'employers' check these things fairly...
by mike.hayes@firstcapi
Tue Aug 03, 2004 1:06 am
Forum: Income Tax
Topic: income tax on remortgaging a BTL portfolio
Replies: 3
Views: 1476

<t>Dear Nick,<br/> <br/> a) No, the loan must be to purchase the property, in fact it's debateable if a remortgage on one property would be allowable against a new property. So it's probably better to take out a new loan for each new property, using the others as security.<br/> b) How good is your c...
by mike.hayes@firstcapi
Tue Aug 03, 2004 12:48 am
Forum: Capital Gains Tax, CGT
Topic: An investment for mother & daughter at what tax liability?
Replies: 1
Views: 1059

<t>Dear Prishita,<br/> <br/> Before you consider the tax, you need to look at your legal position. If mum were to die owning the property, who would it pass to? is your father still alive, do you have brothers & sisters, other relatives? <br/> <br/> If you are lending mum the money, and you aren...
by mike.hayes@firstcapi
Tue Aug 03, 2004 12:35 am
Forum: Income Tax
Topic: income tax payments on account
Replies: 1
Views: 1133

<t>Dear Smithee,<br/> <br/> Pay the lesser of the payments on account as originally estimated and your estimate of the tax due based on the accounts. You will have been accruing interest on the unpaid amount from 31 January and/or 31 July.<br/> <br/> No penalties are due as a result of not paying th...

Go to advanced search