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Where Taxpayers and Advisers Meet

Search found 433 matches

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by RMC
Fri Mar 02, 2018 6:58 am
Forum: Income Tax
Topic: Tax Free Allowance
Replies: 3
Views: 1602

Re: Tax Free Allowance

Yes, as Cyprus is in the EU, the Personal Allowance should be applied to your UK income. There are very likely also other grounds for that.

Presumably you submit your UK tax returns on not-tax-resident basis, i.e. declare only your UK income and mention your Cypriot tax residency in the White Space?
by RMC
Thu Mar 01, 2018 10:05 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on selling the Marital Home
Replies: 2
Views: 700

Re: CGT on selling the Marital Home

HMRC advice on CGT when selling your home or former home is at:
https://www.gov.uk/tax-sell-home
by RMC
Thu Mar 01, 2018 10:18 am
Forum: Savings & Investments, Pensions & Retirement
Topic: Inheritance in Italy transfer to the UK: what documentation?
Replies: 4
Views: 2017

Re: Inheritance in Italy transfer to the UK: what documentation?

Capital Gains pages MUST be filed where chargeable assets sold or disposed of were worth more than £44,400. It will also stop you being quizzed about the source of money at a later stage under the Money Laundering Regs. So do keep your documentation.
by RMC
Wed Feb 28, 2018 9:08 pm
Forum: International Tax
Topic: Statutory Residence Test - UK Work question
Replies: 1
Views: 893

Re: Statutory Residence Test - UK Work question

Where are you going? What country do you come from? Do you also work / pay taxes there?
by RMC
Wed Feb 28, 2018 9:01 pm
Forum: Property Taxation
Topic: Can I offset rent I pay against rental income on a property I rent out?
Replies: 1
Views: 1554

Re: Can I offset rent I pay against rental income on a property I rent out?

No. But the individual could start letting business by renting a part of the house to the other person.
by RMC
Wed Feb 28, 2018 8:50 pm
Forum: Income Tax
Topic: Fuel tax
Replies: 2
Views: 1214

Re: Fuel tax

The deduction from your wages was probably re both your car and fuel benefit. You coughing up would save them having to submit forms P11D and you to report the benefit on your tax return. You have probably signed an agreement to the effect when the company card was first provided to you, ask the HR ...
by RMC
Wed Feb 28, 2018 10:05 am
Forum: Property Taxation
Topic: Any Tax applied when I replace my name on my house with my 2 daughters' name (18 Years and 14 years old)
Replies: 4
Views: 1154

Re: Any Tax applied when I replace my name on my house with my 2 daughters' name (18 Years and 14 years old)

1. Inheritance tax: If you die within 7 years after the transfer, the value of the gifts could use up a part of your exempt amounts. 2. Stamp Duty: n/a assuming there is no mortgage. Not easy to gift mortgaged property – your are unlikely to get the mortgagee’s permission. 3. CGT: gifts are liable t...
by RMC
Tue Feb 27, 2018 9:54 pm
Forum: Company Taxation
Topic: Old capital allowances
Replies: 2
Views: 1882

Re: Old capital allowances

Ensure that the client pays your fees in advance.
by RMC
Tue Feb 27, 2018 9:52 pm
Forum: Income Tax
Topic: Van purchase problem on SA
Replies: 1
Views: 1563

Re: Van purchase problem on SA

Having in effect disclaimed the 100% Annual Investment Allowance in 2015/16, you can claim on your amended tax return 2016/17 and in the following tax years the 18% Writing Down Allowance on reducing basis.

When you sell or scrap the van, there will be a balancing charge or a balancing allowance.

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