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Where Taxpayers and Advisers Meet

Search found 92 matches

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by riccardob
Thu Jul 25, 2019 9:18 pm
Forum: Tax Investigations and Enquiries
Topic: letter about foreign income and gains
Replies: 11
Views: 16815

Re: letter about foreign income and gains

Told them not to. The letter we had said only to reply if there is anything to disclose. They were just casting their hook without being able to see below the surface. this letter i have today states that i should also tell them that i have no tax liabilities if this is the case. can i just write a...
by riccardob
Thu Jul 25, 2019 4:21 pm
Forum: Tax Investigations and Enquiries
Topic: letter about foreign income and gains
Replies: 11
Views: 16815

Re: letter about foreign income and gains

I have seen clients receive them when they have no overseas affairs whatsoever. did you advise your clients to respond to the letter? I have seen articles on the web which state that there is no requirement for someonone to reply. Personally I would rather play by the book and reply to their letter.
by riccardob
Thu Jul 25, 2019 3:22 pm
Forum: Tax Investigations and Enquiries
Topic: letter about foreign income and gains
Replies: 11
Views: 16815

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 riccardob
Thu Jul 25, 2019 3:19 pm
Forum: Tax Investigations and Enquiries
Topic: letter about foreign income and gains
Replies: 11
Views: 16815

Re: letter about foreign income and gains

HMRC have sent a lot of letters like this to people who either have or who they believe have foreign income. If you have declared everything that would be taxable, then no action required. Thanks Jolhm. I guess my question is would they send this letter to anyone or do they send it because they kno...
by riccardob
Thu Jul 25, 2019 1:57 pm
Forum: Tax Investigations and Enquiries
Topic: letter about foreign income and gains
Replies: 11
Views: 16815

letter about foreign income and gains

Hello, I have received a letter asking me to declare one of two things: a) either declare now foreign income and gains under the disclosure regimen. a tax adviser can advise. or b) I don't have to declare anything new as I have already taken care of this. The letter also refers to revised guidance P...
by riccardob
Wed Jul 03, 2019 11:59 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Corbyn IHT grab
Replies: 3
Views: 5855

Re: Corbyn IHT grab

I was only quoting reports in the press. It isn' t something I made up.
Today's news is that Mc Donnell is already planning for the head of HMRC.
by riccardob
Tue Jul 02, 2019 11:19 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Corbyn IHT grab
Replies: 3
Views: 5855

Corbyn IHT grab

Hello, I have read articles in the press explaining Corbyn's plans for IHT above a lifetime treshold of 125k and the rest taxed at income tax rates every year. I don't understand the concept, how can a house be taxed at income tax rates every year if its value fluctuates? I am not an expert but his ...
by riccardob
Fri Jun 07, 2019 1:58 pm
Forum: Capital Gains Tax, CGT
Topic: bought new house and now selling current home
Replies: 5
Views: 1041

Re: bought new house and now selling current home

In its' simplest form, if it has always been your main residence, then it will be covered entirely by Principle Private Residence Relief. Details as below: https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet thanks. do i need to send a nomination form...
by riccardob
Thu Jun 06, 2019 9:13 pm
Forum: Capital Gains Tax, CGT
Topic: bought new house and now selling current home
Replies: 5
Views: 1041

bought new house and now selling current home

hello,

we bought a house and we are now selling
our current home of 12 years. the house we just bought
is being renovated and we will move into it once the current home is sold.

could we be liable for capital gains or is there
any relief we could apply for?

regards
by riccardob
Thu May 16, 2019 6:14 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: corbyn and his plans for iht...
Replies: 3
Views: 643

Re: corbyn and his plans for iht...

I'm not sure anyone (Corbyn included) knows what his plans are - however you can rest assured that if you are worried about IHT now it's likely to be worse under his rule. In theory under his socialist government you can really just expect a 100% IHT with no reliefs, that way on death all assets re...

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