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Where Taxpayers and Advisers Meet

Search found 1858 matches

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by wamstax
Tue Jul 30, 2019 11:28 am
Forum: Capital Gains Tax, CGT
Topic: CGT One Year Rule, I am in Shock.
Replies: 15
Views: 21543

Re: CGT One Year Rule, I am in Shock.

Unfortunately unless the gain is not £400k you are likely to be paying around £100k in tax with little opportunity to reduce that unless during your ownership you carried out capital improvements ( not claimed against the tax on letting income) that were reflected in the state or nature of the prope...
by wamstax
Thu Jul 25, 2019 2:31 pm
Forum: Tax Investigations and Enquiries
Topic: letter about foreign income and gains
Replies: 11
Views: 19362

Re: letter about foreign income and gains

Hi There Does it have a certificate requiring you to certify that your tax returns are correct and that you have nothing to disclose? If so it could be a generic letter based on information received by HMRC under the "global" common reporting standards. You would also have to check that you did not ...
by wamstax
Mon Jul 08, 2019 1:16 pm
Forum: Capital Gains Tax, CGT
Topic: Returning to main property to sell
Replies: 4
Views: 3698

Re: Returning to main property to sell

As JHolm says pay somebody reliable to get advice you rely on. Unlikely Main Residence election will be possible given your stated facts and letting agent is hardly proper place to get tax advice. Tell them to stick to letting as from what you say more likely to lead you into deliberate tax evasion....
by wamstax
Mon Jun 24, 2019 8:24 pm
Forum: Business Tax
Topic: What steps to find NI number online. . . as a new Self Assessment gateway user
Replies: 9
Views: 15669

Re: What steps to find NI number online. . . as a new Self Assessment gateway user

Haven’t tested it out but if it’s on your account you might get it by starting to complete your next tax return on the front cover
by wamstax
Thu Jun 20, 2019 7:08 am
Forum: Tax Investigations and Enquiries
Topic: Form SA100 - confirming it's been rec'vd at HMRC by post
Replies: 3
Views: 13074

Re: Form SA100 - confirming it's been rec'vd at HMRC by post

You could always send the item by “to be signed for” -assuming that you can get this from abroad- and then you will be able to track receipt.
by wamstax
Wed Jun 12, 2019 10:07 pm
Forum: Business Tax
Topic: Rent Refund Tax Question
Replies: 2
Views: 11845

Re: Rent Refund Tax Question

As opposed to turnover I would treat it as a receipt against rents in the current year as received
by wamstax
Thu May 23, 2019 3:28 pm
Forum: Business Tax
Topic: Property business tax
Replies: 3
Views: 11911

Re: Property business tax

Afraid not
by wamstax
Thu May 02, 2019 3:00 pm
Forum: Tax Investigations and Enquiries
Topic: Not paid tax or filed tax return in 20 years. Help!
Replies: 12
Views: 20874

Re: Not paid tax or filed tax return in 20 years. Help!

As Jholm says you need to seek professionals advice as things aren’t always as bad as you fear. Best get the latest lease/ agreements and also the last 6 years bank account statements; mortgage statements and as much paperwork as you can gather for income and expenses for the letting and get a suita...
by wamstax
Mon Apr 08, 2019 4:50 pm
Forum: Business Tax
Topic: Flight training
Replies: 1
Views: 6738

Re: Flight training

No as it would potentially be seen as a personal cost or at the least a capital payment to acquire further personal skills
by wamstax
Wed Apr 03, 2019 8:26 pm
Forum: Capital Gains Tax, CGT
Topic: CGT Sale of UK Property & Purchase of Spanish Property
Replies: 7
Views: 849

Re: CGT Sale of UK Property & Purchase of Spanish Property

Please detail the uses (e.g. personal occupation; business use etcthe property was put to from acquisition to the present date. If any personal occupation please say if any other properties owned at the same time and their use during the periods owned

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