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Where Taxpayers and Advisers Meet

Search found 7518 matches

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by maths
Fri Sep 20, 2019 9:20 pm
Forum: Income Tax
Topic: Disclaiming the Dividend Allowance and the Personal Savings Allowance
Replies: 6
Views: 207

Re: Disclaiming the Dividend Allowance and the Personal Savings Allowance

I don't believe so.

Perhaps others have a different interpretation.
by maths
Fri Sep 20, 2019 5:49 pm
Forum: Income Tax
Topic: Bank Interest
Replies: 2
Views: 166

Re: Bank Interest

On the basis that what is received is "interest" then it is taxable in the tax year of receipt.

In one case from the distant past I believe the judge said "receivability with receipt is nothing".... or some such phrase.
by maths
Fri Sep 20, 2019 5:46 pm
Forum: Income Tax
Topic: Disclaiming the Dividend Allowance and the Personal Savings Allowance
Replies: 6
Views: 207

Re: Disclaiming the Dividend Allowance and the Personal Savings Allowance

Not really my scene but there is a difference between Personal Allowances and Dividend/Personal savings allowances. It is correct that the former may be disclaimed; if not disclaimed it is deducted in Step 3 [ITA 2007 s.23]. However, neither the DA/PSA are "allowances" in the same manner as the PA a...
by maths
Wed Sep 11, 2019 11:46 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Trust moves abroad?
Replies: 6
Views: 245

Re: Trust moves abroad?

Where are the beneficiaries resident and does the trust deed expressly provide for an appointment of non-resident trustees?
by maths
Thu Sep 05, 2019 11:24 pm
Forum: Property Taxation
Topic: Private Residence Relief on second home
Replies: 1
Views: 166

Re: Private Residence Relief on second home

It is not possible to have two residences over the same time period for CGT purposes. Where there are two properties with each qualifying as a residence it I necessary to elect which of the two is to be the main residence; any such election must be made within 2 years of acquiring the second residen...
by maths
Thu Sep 05, 2019 1:10 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Variation of a will and inheritance tax
Replies: 4
Views: 158

Re: Variation of a will and inheritance tax

Generally speaking, it is advantageous for the first spouse to die to leave the estate to the surviving spouse. The surviving spouse then become in principle entitled to two lots of nil rate band (NRB) and two lots of residence nil rate band (RNRB). In a time of increasing NRB and RNRB the doubling ...
by maths
Sat Aug 31, 2019 10:59 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: My previous savings
Replies: 3
Views: 1655

Re: My previous savings

Are you UK domiciled or non-UK domiciled?
by maths
Sun Aug 25, 2019 4:46 pm
Forum: Capital Gains Tax, CGT
Topic: Selling Property rented for commercial use
Replies: 1
Views: 1361

Re: Selling Property rented for commercial use

As it would seem that the land included a dwelling the 18%/28% rates would I assume apply on sale.
by maths
Sun Aug 25, 2019 4:12 pm
Forum: Capital Gains Tax, CGT
Topic: CGT computation forms when half property was sold and repurchased
Replies: 4
Views: 1440

Re: CGT computation forms when half property was sold and repurchased

When you refer to "partner" do you mean married partner; civil partner or co-habitee?
by maths
Sun Aug 25, 2019 1:32 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Gift with benifits
Replies: 1
Views: 1210

Re: Gift with benifits

No. If this is your only "use" of the property it will not give rise to a so-called reservation of benefit for IHT.

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