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Where Taxpayers and Advisers Meet

Search found 633 matches

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by GlobalTaxAdviser
Sun Feb 15, 2015 7:00 pm
Forum: General
Topic: Buying a van and starting a ltd company
Replies: 6
Views: 3095

Re: Buying a van and starting a ltd company

Hi

Thats' fine for claiming AIA and also you can offset any interest payments which is used to finance the VAN

Yes you can offset subcontractor payments and any other payments that related to your business
by GlobalTaxAdviser
Sun Feb 15, 2015 2:36 pm
Forum: General
Topic: Buying a van and starting a ltd company
Replies: 6
Views: 3095

Re: Buying a van and starting a ltd company

If you buy the VAN outright or on HP you should be able to claim 100% annual investment allowance which can be offset against taxable profits. If its a finance lease it gets a little complex and you can offset certain costs on an annual basis You can easily transfer the assets to a limited company b...
by GlobalTaxAdviser
Thu Feb 12, 2015 5:29 pm
Forum: Business Tax
Topic: Entertaining and food Expenses
Replies: 2
Views: 1499

Re: Entertaining and food Expenses

It is rare for sole traders to claim subsistence and certainty not entertaining

To claim subsistence in a limited company it must be irregular. Journey to work must change significantly to claim.

Dispensation is going out of the window so wouldn't worry about that too much .
by GlobalTaxAdviser
Wed Feb 11, 2015 1:36 pm
Forum: International Tax
Topic: Loan from parents to buy house in UK
Replies: 3
Views: 972

Re: Loan from parents to buy house in UK

There isn't any tax implications for interest free loans

Sometimes best to have agreements on loans even with close family
by GlobalTaxAdviser
Wed Feb 11, 2015 12:21 pm
Forum: Capital Gains Tax, CGT
Topic: what would be considered as investment in your property?
Replies: 2
Views: 529

Re: what would be considered as investment in your property?

If it is revenue or capital expenditure depends if it was a direct replacement or an improvement assuming it it a buy to let property.
by GlobalTaxAdviser
Wed Feb 11, 2015 12:19 pm
Forum: General
Topic: What is a Suitable
Replies: 1
Views: 882

Re: What is a Suitable

Your accountant should be able to help you. If you are looking for a tax haven with decent weather then try Cayman Islands, Bermuda or British Virgin Islands For low tax closer to home - Ireland, Jersey, Isle of man, Luxembourg. I probably missed a couple of other places too. Technically you should ...
by GlobalTaxAdviser
Tue Feb 10, 2015 3:26 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on inherited house overseas
Replies: 1
Views: 499

Re: CGT on inherited house overseas

Hi If you domiciled in the UK and are selling a property then you will be liable for CGT in UK and India. You can get a foreign tax credit for any tax paid in India assuming you are tax resident in the UK under the double tax treaty If you are not domiciled then any gain on the property would be tax...
by GlobalTaxAdviser
Mon Feb 09, 2015 4:38 pm
Forum: International Tax
Topic: International Interest income repatriation
Replies: 1
Views: 741

Re: International Interest income repatriation

Hi You can claim on the arising basis and personal allowance will cover the interest income For this reason no tax return is required. Remember since you are resident world wide income is taxed so if it exceeds personal allowance then yes you should report the income Actually, you should get a Natio...
by GlobalTaxAdviser
Mon Feb 09, 2015 11:13 am
Forum: Tax Investigations and Enquiries
Topic: Client Evading VAT, Tax
Replies: 11
Views: 6884

Re: Client Evading VAT, Tax

The Job market is picking up so there should be more opportunities. You may also consider starting up on your own especially since you have "personally introduced" clients to the practice. Why not just take these clients that you have given to the practice and start up on your own. If you have a cli...
by GlobalTaxAdviser
Fri Feb 06, 2015 1:05 pm
Forum: Income Tax
Topic: Capital Allowances
Replies: 2
Views: 557

Re: Capital Allowances

You can claim the Annual Investment Allowance for the whole amount

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