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Where Taxpayers and Advisers Meet

Search found 1831 matches

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by wamstax
Sun Apr 01, 2018 6:58 pm
Forum: Capital Gains Tax, CGT
Topic: interest on BLT mortgage
Replies: 2
Views: 409

Re: interest on BLT mortgage

Afraid not
by wamstax
Thu Mar 29, 2018 2:35 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on divorce
Replies: 6
Views: 568

Re: CGT on divorce

Maths
You also need to go to Specsavers as I am a nasty and cold hearted tax person (sad I know) with handle WAMSTAX not warmstax. Still it’s a lot better than wormstax
by wamstax
Thu Mar 29, 2018 2:16 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on divorce
Replies: 6
Views: 568

Re: CGT on divorce

Maths - Surely exempt amount is 16.5/19 x 59,500 = 51672 leaving 7828 chargeable which is under 11700 and therefore exempt if no other chargeable gains disposals in the year
by wamstax
Wed Mar 28, 2018 7:47 pm
Forum: Tax Investigations and Enquiries
Topic: Remittance basis prior to 2013 for Forex with UK trader
Replies: 4
Views: 12500

Re: Remittance basis prior to 2013 for Forex with UK trader

Unfortunately I would see the gross contract debt -settling U.K. debt - as being remitted to the U.K. This would be on the basis that the money was used or enjoyed in the U.K.
by wamstax
Tue Mar 27, 2018 7:31 pm
Forum: Business Tax
Topic: Recording transaction fees
Replies: 2
Views: 1667

Re: Recording transaction fees

Unfortunately my view would that you would have to record the gross sale and then also record as an expense the fees charged by the cc company
by wamstax
Tue Mar 27, 2018 6:43 pm
Forum: Capital Gains Tax, CGT
Topic: Stagecoach Shares - CGT implication of Return of "Value"
Replies: 3
Views: 416

Re: Stagecoach Shares - CGT implication of Return of "Value"

Yes there should be a share value detailed somewhere - hopefully in the paperwork you obtained re the changes in Stagecoach shares or failing that you might find it here>>> http://www.stagecoach.com/investors/share-info/historic-download.aspx
by wamstax
Tue Mar 27, 2018 5:33 pm
Forum: Capital Gains Tax, CGT
Topic: Stagecoach Shares - CGT implication of Return of "Value"
Replies: 3
Views: 416

Re: Stagecoach Shares - CGT implication of Return of "Value"

Technically the receipt of the £2k represented a part disposal of your holding and you would normally apportion your original cost into two parts. Part 2 would be to apportion the original £8k using the factor of “the value of the new shares that you held after the £2k distribution” divided by “ the...
by wamstax
Sun Mar 18, 2018 9:58 pm
Forum: Capital Gains Tax, CGT
Topic: Moving Back to Main Residence
Replies: 2
Views: 411

Re: Moving Back to Main Residence

As I understand the right to exemption as a main residence ceases on the date u decide you are not going to move back into Property but you would then have 18 months in which to dispose of it as your main residence
by wamstax
Fri Mar 16, 2018 9:23 pm
Forum: Tax Investigations and Enquiries
Topic: Help! Sole trader HMRC investigation
Replies: 47
Views: 50885

Re: Help! Sole trader HMRC investigation

Let’s smell the coffee... so you can’t explain £900 out of how much ? Surely they are arguing about more than £900 and how much (if anything ) have they proved you omitted from your accounts for the year?
by wamstax
Fri Mar 16, 2018 1:38 pm
Forum: Company Taxation
Topic: Tax timing on Property Development business
Replies: 1
Views: 1154

Re: Tax timing on Property Development business

Unfortunately the profit will be chargeable to Corporation Tax

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