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Where Taxpayers and Advisers Meet

Search found 7463 matches

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by maths
Wed Apr 24, 2019 3:01 pm
Forum: Capital Gains Tax, CGT
Topic: Transfer of property to children and loss in value
Replies: 3
Views: 54

Re: Transfer of property to children and loss in value

I'm not sure why you wish to make such a transfer?

It's likely that you would be better keeping it and leaving it in your will.
by maths
Fri Apr 19, 2019 1:06 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: First Time Buyer SDLT - Am I eligible?
Replies: 2
Views: 88

Re: First Time Buyer SDLT - Am I eligible?

I would suggest that you will qualify.
by maths
Fri Apr 19, 2019 1:04 pm
Forum: Capital Gains Tax, CGT
Topic: Calculating CGT on foreign currency balances & related transactions
Replies: 5
Views: 118

Re: Calculating CGT on foreign currency balances & related transactions

The matter is not straight forward. As you state gains in sterling on withdrawals from foreign currency bank accounts do not give rise to any CGT charge (post 2012). Where mon its are held in a brokerage account it becomes necessary to ascertain the nature of the relationship between you and the bro...
by maths
Fri Apr 19, 2019 12:57 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on rented property with Charges due on disposal
Replies: 3
Views: 71

Re: CGT on rented property with Charges due on disposal

I'm afraid your post is somewhat contradictory. It is in particular unclear whether each of your two relatives have each acquired a beneficial in the asset or whether you have retained beneficial ownership and have simply agreed that on a sale you will share out the proceeds. The CGT consequences wi...
by maths
Tue Apr 16, 2019 3:35 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Impact of P N Bewley Ltd v HMRC 2019
Replies: 1
Views: 152

Re: Impact of P N Bewley Ltd v HMRC 2019

It's always difficult to utilise a tax case decided for say income tax purposes to a case concerned with say capital gains tax.

Bewley was an SDLT case. I doubt it would have much authority when the matter is a council tax issue.
by maths
Tue Apr 16, 2019 3:32 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on sale of overseas property
Replies: 1
Views: 89

Re: CGT on sale of overseas property

Are they furnished holiday lettings?

How many properties are involved?

Which country is involved?
by maths
Tue Apr 16, 2019 3:15 pm
Forum: Capital Gains Tax, CGT
Topic: Calculating CGT on foreign currency balances & related transactions
Replies: 5
Views: 118

Re: Calculating CGT on foreign currency balances & related transactions

Foreign currency bank accounts no longer constitute chargeable assets for CGT purposes. Thus, withdrawals from such accounts (which technically constitute a disposal) do not give rise to any CGT charge open any sterling gain which arises. Foreign income (eg dividends) are subject to income tax on th...
by maths
Fri Apr 12, 2019 12:32 am
Forum: General
Topic: Do I need to pay tax on disposal of foreign carpark space?
Replies: 6
Views: 177

Re: Do I need to pay tax on disposal of foreign carpark space?

What was the gross sale proceeds?

Are you intending to claim remittance basis Treatment ?
by maths
Thu Apr 11, 2019 9:38 pm
Forum: General
Topic: Do I need to pay tax on disposal of foreign carpark space?
Replies: 6
Views: 177

Re: Do I need to pay tax on disposal of foreign carpark space?

On the basis the tax year 18/19 qualifies as a split year (possibly under Case 4) and as you exchanged contracts prior to the overseas part of 18/19 terminating no UK capital gains tax (CGT) should arise on the gain on a sale of car park B. So long as any sale proceeds are not remitted to the UK no ...
by maths
Tue Apr 09, 2019 2:22 pm
Forum: General
Topic: Do I need to pay tax on disposal of foreign carpark space?
Replies: 6
Views: 177

Re: Do I need to pay tax on disposal of foreign carpark space?

Was the rented car park space sold at the same time as sale of the apartment and the other car park space

OR

was the apartment and one car park space sold and then at a later date the other rented car park space was sold separately?

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