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Where Taxpayers and Advisers Meet

Search found 99 matches

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by Brightonian
Wed Nov 09, 2011 10:41 am
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

I realise that the nomination would not be valid. We are visiting the client later this week and will inspect all the documentation. But, having spoken to a CGT specialist just now, I do not expect this approach to work. My feeling is that the transfer stands and we will simply have to bite the bull...
by Brightonian
Tue Nov 08, 2011 9:23 pm
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

I think I have been misunderstood. I was not proposing anything dodgy simply asking for opinions. An election can be backdated. If done within the proper time limits, it can be effective if the property elected is regarded as a 'residence'. I was simply asking if the property could be regarded as a ...
by Brightonian
Tue Nov 08, 2011 4:06 pm
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

Thank you, Maths. You have been very helpful and I apologise for my initial hasty response. I agree about 'there but for the grace of God' - I've been in tax long enough (27 years) to know that it is very easy to slip up.
by Brightonian
Tue Nov 08, 2011 3:04 pm
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

I am not proposing anything dishonest. I'm shocked that you think that. I will take advice on whether the facts of the case would support such a view. And I would certainly not risk my livelihood for something that the PI insurers will pay. you may feel you're not gloating but there's a definite whi...
by Brightonian
Tue Nov 08, 2011 2:40 pm
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

I'm glad Incredulum is enjoying a good laugh. I'm afraid I'm not. And I don't thimnk it's very fair to gloat. Date of marriage was Feb 2008 so my only hope is arguing that W was holding the property on trust for H or that the gift was a sham. Thanks to those who have taken my enquiry seriously and t...
by Brightonian
Tue Nov 08, 2011 10:37 am
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

Thank you, Peter. I haven't run the numbers in detail as I am still waiting for some figures. But my draft indicates it would be better if the disposal were just in the husband's name. I will speak to the clients later today to find out how they effected the transfer. Anotehr thought occurs - probab...
by Brightonian
Tue Nov 08, 2011 6:09 am
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

I may be clutching at straws here but is there any mileage in the view that, as all proceeds of sale went to the husband and were invested in his sole name, he retained the beneficial interest throughout and the inter spouse transfer was a sham?
by Brightonian
Mon Nov 07, 2011 5:49 pm
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

Thanks to everyone who has replied. I have read the legislation and see that my understanding was incorrect. Yes, I did used to write in the Telegraph but they have now changed their property section.
by Brightonian
Mon Nov 07, 2011 4:57 pm
Forum: Capital Gains Tax, CGT
Topic: PPR extended relief
Replies: 21
Views: 2852

Re: PPR extended relief

Thanky ou for replying, Maths, but I don't accept that no 'mainstream' PPR is due to W. S.222(7)(b) states taht on a disposal the transferee spouse can count any period of residential occupation by the transferor spouse as though it were his/her own, regardless of the true position. I am uncertain a...
by Brightonian
Mon Nov 07, 2011 3:43 pm
Forum: Income Tax
Topic: State pension arrears
Replies: 4
Views: 1004

State pension arrears

If someone claims their pension late and receives the arrears after the end of the tax year, are they taxed in the year that the pension relates to or the year in which it was paid?

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