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Where Taxpayers and Advisers Meet

Search found 112 matches

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by Brightonian
Mon Jul 17, 2017 4:23 pm
Forum: International Tax
Topic: Gardening leave
Replies: 6
Views: 1765

Re: Gardening leave

Thank you, Maths. So, if he is not resident in UK for 17/18, which I think likely, the gardening leave for the 90 days he spent in UK will not be taxed in UK at all? I did look at the DTA with Kazakhstan and it seemed that employment income could be taxed in UK if the employer is resident here - whi...
by Brightonian
Mon Jul 17, 2017 10:37 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Complex estate?
Replies: 3
Views: 1723

Complex estate?

A client has asked me to prepare income tax returns for her deceased brother. This is not something I do often and, in the past, I have simply prepared the return for the deceased and also a trusts and estates return for the period from the date of death to 5 April. I have usually sent a 64-8 signed...
by Brightonian
Mon Jul 17, 2017 10:28 am
Forum: International Tax
Topic: Gardening leave
Replies: 6
Views: 1765

Gardening leave

My client has worked abroad for a number of years in the Middle East. He has now been made redundant. He came back to the UK at the end of March and is now on gardening leave until the end of September. He was in the UK from 31 March until 5 July but has now moved to Kazakhstan where he and his wife...
by Brightonian
Thu Jun 01, 2017 9:32 am
Forum: Income Tax
Topic: Interest on tax return
Replies: 6
Views: 3082

Re: Interest on tax return

Thank you to everyone who has taken the time to reply. Your responses have been extremely helpful and I am very grateful. In tax, I often find that it's the apparently simple stuff that is the most difficult!
by Brightonian
Wed May 31, 2017 9:45 am
Forum: Income Tax
Topic: Interest on tax return
Replies: 6
Views: 3082

Re: Interest on tax return

I have just spoken to HMRC and they say personal loan interest DOES count for the PSA. I am a little reluctant to take them at their word but. . . .
by Brightonian
Fri May 26, 2017 2:37 pm
Forum: Income Tax
Topic: Interest on tax return
Replies: 6
Views: 3082

Re: Interest on tax return

Thank you. It just never occurred to me, but of course it must be the case. I'll check out the link you have given. Peer to peer lending seems to go on the AI pages, so that must count.
by Brightonian
Wed May 24, 2017 2:14 pm
Forum: Income Tax
Topic: Interest on tax return
Replies: 6
Views: 3082

Interest on tax return

Can anyone tell me where interest earned on a personal loan should go on the tax return please? If I make a loan to a family member and they pay me interest, does it go in the section for bank and building society interest or on the additional information section for interest from gilts. I used to p...
by Brightonian
Wed Apr 12, 2017 3:57 pm
Forum: Capital Gains Tax, CGT
Topic: NRCGT
Replies: 3
Views: 947

Re: NRCGT

Thank you for your help. Having looked at the numbers, I agree that this is the easiest approach and also the best in terms of tax unless he can either reoccupy the property - difficult with his ex-wife living there - or else take a job in (say) Edinburgh and avail himself of the ESC D4. If he were ...
by Brightonian
Wed Apr 12, 2017 11:00 am
Forum: Capital Gains Tax, CGT
Topic: NRCGT
Replies: 3
Views: 947

NRCGT

I have a client who was non resident from September 2010 until 1 April 2017. In August 2010, he and his wife bought a London flat with 67 years remaining on the lease. This was intended as their PPR. The following month, my client went to work full-time abroad, which he has done until earlier this m...
by Brightonian
Tue Jan 17, 2017 5:35 pm
Forum: Income Tax
Topic: Interest on personal loans
Replies: 0
Views: 1048

Interest on personal loans

I am wondering if anyone can throw some light on this. I have a client who has made several loans in the past to friends. He charges interest and I have always shown the interest on the tax return as 'other income'. Previously it has not mattered where it was returned. However, with the changes to t...

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