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Where Taxpayers and Advisers Meet

Search found 1831 matches

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by wamstax
Sat Apr 14, 2018 6:00 pm
Forum: Tax Investigations and Enquiries
Topic: Discovery beyond 6 years
Replies: 3
Views: 11591

Re: Discovery beyond 6 years

Requests for documents etc more than 6 years old are restricted to situations where fraud is suspected. When you get your request please give me a call for specialist advice
by wamstax
Thu Apr 12, 2018 3:11 pm
Forum: Company Taxation
Topic: Ppoperty in Limited Co Transfer to New Co
Replies: 2
Views: 1385

Re: Ppoperty in Limited Co Transfer to New Co

If you do something to cause the company to avoid your creditors I would imagine that all things being equal HMRC will object to the striking off of the old company and you could be seen as guilty of misfeasance. You would be best to engage the services of an expert in VAT who might be able to assist
by wamstax
Fri Apr 06, 2018 5:28 pm
Forum: Capital Gains Tax, CGT
Topic: CTG on ex marital home when splitting profits with wife / ex wife
Replies: 4
Views: 492

Re: CTG on ex marital home when splitting profits with wife / ex wife

Sorry posted at same time but after Good....
no disagreement here then
by wamstax
Fri Apr 06, 2018 5:23 pm
Forum: Capital Gains Tax, CGT
Topic: CTG on ex marital home when splitting profits with wife / ex wife
Replies: 4
Views: 492

Re: CTG on ex marital home when splitting profits with wife / ex wife

You’ve got a bit of a problem as the house is 100% yours and therefore the chargeable gain will be 100% yours as things stand at the present moment. Additionally however as you have presumably lived in it at some point as your main residence ( thereby entitling you to Main Residence Relef -MRR) you ...
by wamstax
Wed Apr 04, 2018 6:07 pm
Forum: Capital Gains Tax, CGT
Topic: CGT query - divorce transfer
Replies: 5
Views: 562

Re: CGT query - divorce transfer

Maths - agreed with your comments but is he sensible in arguing for another method of calculation and he presumably knows better than HMRC and people like us who have some experience in dealing with main residence etc relief. Nae wonder there was a divorce
by wamstax
Wed Apr 04, 2018 5:01 pm
Forum: Capital Gains Tax, CGT
Topic: CGT query - divorce transfer
Replies: 5
Views: 562

Re: CGT query - divorce transfer

The only question that could affect him is the market value of th 50% transferred to him as it would be relevant for his future disposal calculations. As maths says the market value of your 50% could be depressed as your husband being in occupation or more correctly interested could affect the salea...
by wamstax
Wed Apr 04, 2018 4:56 pm
Forum: Capital Gains Tax, CGT
Topic: CGT query - divorce transfer
Replies: 5
Views: 562

Re: CGT query - divorce transfer

It is really irrelevant what your husband thinks as unless he has sold the property he will have no current CGT liability and of course your gain is on your 50% only. His Cgt calculation will be calculated according to his disposal of the Property whoever that happens.
by wamstax
Wed Apr 04, 2018 12:46 pm
Forum: Capital Gains Tax, CGT
Topic: selling second home
Replies: 9
Views: 834

Re: selling second home

;) also confirm that you declared any rental profits made over the years to HMRC
by wamstax
Mon Apr 02, 2018 8:49 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on sale of property
Replies: 4
Views: 578

Re: CGT on sale of property

Sorry to put a spanner in the works. If HMRC become/became aware of your selling or letting the property then how might it look without the necessary legal paperwork to back up your story that it was your uncles property. Worst scenario might think it was your funds -and possibly even tax evaded fun...
by wamstax
Sun Apr 01, 2018 7:00 pm
Forum: Capital Gains Tax, CGT
Topic: interest on BLT mortgage
Replies: 2
Views: 407

Re: interest on BLT mortgage

Given that it was a buy to let I have to ask whether you have returned the rents received and if so was the mortgage interest not used to reduce the taxable property income .

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