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Where Taxpayers and Advisers Meet

Search found 38 matches

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by sandy2000
Thu Feb 15, 2018 12:59 am
Forum: Property Taxation
Topic: Deducting mortgage arrangement fee
Replies: 5
Views: 4112

Re: Deducting mortgage arrangement fee

had come across this some time ago ... http://www.fyldetaxaccountants.co.uk/property-articles/are-lender-arrangement-fees-tax-deductible-for-landlords/ --QUOTE.... But my accountant told me that I have to spread the cost of the arrangement fee over the length of the mortgage … is that right? No! You...
by sandy2000
Thu Feb 15, 2018 12:49 am
Forum: Property Taxation
Topic: Deducting mortgage arrangement fee
Replies: 5
Views: 4112

Re: Deducting mortgage arrangement fee

When a fee has been charged the expense has been made. Whether the fee has been paid by "another loan" or not - that whole amount is a "finance" expense at the time it was added to the loan. The loan arraignment fees usually have no bearing on the term of the loan - unless it is some kind of special...
by sandy2000
Thu May 17, 2007 6:05 am
Forum: Income Tax
Topic: Tax liability on Sharing cost of rental with buisness
Replies: 0
Views: 477

<t>I rent my main residence as a tenant on AST. I am a director of my company buisness based at my home. How much can my company contribute towards the rental without me becoming liable for further tax or benefit in kind. I use more that a quarter of the home for buisness use. Alternatively if I mak...
by sandy2000
Sat Jan 21, 2006 5:33 pm
Forum: Capital Gains Tax, CGT
Topic: Co owned property sold
Replies: 2
Views: 1044

<t>Ann<br/> <br/> My understanding is that signing over the house like that to children (or part of it) is a potentially exempt transfer. God forbid if father dies before 7 yrs there is IHT payable on a sliding scale not CGT - as the assset will be revalued at the time of death.<br/> But in your cas...
by sandy2000
Sat Jan 21, 2006 5:02 am
Forum: General
Topic: Is valuation fee allowable tax expense
Replies: 3
Views: 2021

Hi Lambs

Thanks for your reply - much appreciated.

I'll start with one small BTL for now and see how it goes.

Regards
by sandy2000
Sat Jan 21, 2006 3:57 am
Forum: Property Taxation
Topic: My Dad bought me an investment property - SDLT or CGT
Replies: 2
Views: 1028

<t>Adelante<br/> <br/> yes, he was not on the title originally (Dec 2002), but when he became the guarantor of mortgage (may 2004), the lender wanted his name PUT on the title as well as on the loan. So from last 1 1/2 years three names are on the title. My sister and I were in full time education, ...
by sandy2000
Fri Jan 20, 2006 8:34 am
Forum: General
Topic: Is valuation fee allowable tax expense
Replies: 3
Views: 2021

<t>I have been told that it could be , but can someone please confirm if valuation fee and brokers fee is an allowable tax expense in raising funds on own residence, to release equity to to buy an investment property with on a BTL mortgage (which will incur another val fee and broker fee) where, I u...
by sandy2000
Fri Jan 20, 2006 6:31 am
Forum: Property Taxation
Topic: My Dad bought me an investment property - SDLT or CGT
Replies: 2
Views: 1028

<t>Hi,<br/> <br/> About 4 years ago, my father sold his home, and bought an investment property for my sister and me on "joint tenancy" from the proceeds of the house. It was an informal part-loan part-gift from him in case we couldn't pay him back. A year later when he needed some money, we applied...

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