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Where Taxpayers and Advisers Meet

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by bd6759
Fri Jun 14, 2019 12:49 pm
Forum: Income Tax
Topic: Divide tax debt between spauses
Replies: 2
Views: 231

Re: Divide tax debt between spauses

This is a legal question rather than a tax one. From a tax perspective the debt is enforceable only on you, and HMRC can only chase you for payment. From a legal perspective it can be argued that this is a debt of the marriage in the same way as property is an asset of the marriage. Its for your sol...
by bd6759
Fri Jun 14, 2019 12:44 pm
Forum: Income Tax
Topic: seeking HMRC approval for claiming a capitalloss on the sale of apartments in Bulgaria in 2009
Replies: 2
Views: 244

Re: seeking HMRC approval for claiming a capitalloss on the sale of apartments in Bulgaria in 2009

You cannot do this. A loss is only an allowable loss if it has been notified to HMRC in the same way as you would make a claim. The time limit for making a claim is 4 years so you are now out of time. There are no provisions to extend the time limit. s16(2A) Taxation of Chargeable Gains Act 1992 say...
by bd6759
Thu Jun 13, 2019 10:22 pm
Forum: Property Taxation
Topic: selling a BTL and change of ownership
Replies: 10
Views: 2902

Re: selling a BTL and change of ownership

The question has been answered fully many times.

Your wife can gift you half the property. This does not need to be done at the land registry. A declaration of trust is sufficinet.

Repairs are not an allowable cost. It depends wat you mean by rennovations.
by bd6759
Thu Jun 13, 2019 10:16 pm
Forum: Company Taxation
Topic: use of home allowance
Replies: 2
Views: 1683

Re: use of home allowance

Are you employed or self employed?
by bd6759
Tue Jun 11, 2019 10:43 pm
Forum: Property Taxation
Topic: incorporating my properties into limited company
Replies: 5
Views: 1912

Re: incorporating my properties into limited company

Incorporation relief is a possibility for CGT, but difficult to get. It also means you get shares for the value of your assets rather than cash.

Can't think of any way to avoid SDLT, but MDR may be claimable to reduce the bill.

This shouldn't be a "do it yourself" transaction.
by bd6759
Tue Jun 11, 2019 7:51 am
Forum: Income Tax
Topic: Allowance/expenses
Replies: 10
Views: 417

Re: Allowance/expenses

I'm not sure how many different ways and say that.

YES!
by bd6759
Mon Jun 10, 2019 11:33 pm
Forum: Income Tax
Topic: Allowance/expenses
Replies: 10
Views: 417

Re: Allowance/expenses

You have personally paid the whole amount out of the income given to you. That is the amount you put in your accounts.
by bd6759
Mon Jun 10, 2019 11:30 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: BIK on salary sacrifice car
Replies: 2
Views: 1560

Re: BIK on salary sacrifice car

The car is not a company perk. Why do I have to pay the cash equivalent of GB BIK? You had a choice. Cash or a car. Both are taxable. If you were given more cash you would expect to the pay tax on that. Instead of cash, you are given a car. You pay tax on that instead. Payroll are saying this is in...
by bd6759
Mon Jun 10, 2019 11:22 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Refund
Replies: 8
Views: 2270

Re: Refund

No. The extra 3% is based on the situation when you bought the house, not the situation at a later date.
by bd6759
Mon Jun 10, 2019 11:19 pm
Forum: Income Tax
Topic: Allowance/expenses
Replies: 10
Views: 417

Re: Allowance/expenses

Thank you for responding. The 7 day one off trip was solely for trade purposes at the other end of the country so there was no commuting back and forth to home. I will include the allowance payment in my income. My query is can I claim the excess hotel expense that was over the allowance paid? Of c...

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