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Where Taxpayers and Advisers Meet

Search found 383 matches

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by someone
Sat Apr 01, 2017 9:54 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Extra 3% SDLT - Is this a way to legally reduce it?
Replies: 14
Views: 2812

Re: Extra 3% SDLT - Is this a way to legally reduce it?

He doesn't sell previous main home.
by someone
Sat Apr 01, 2017 9:18 pm
Forum: Property Taxation
Topic: Rental income
Replies: 9
Views: 1339

Re: Rental income

I'm guessing that the agreement re income with your father is pre april 2009. Assuming your mother inherited everything then I would expect she inherited the income stream. If not then it appears contentious whether the same arrangement can be created today. PIM1030 still exists but Transfers of inc...
by someone
Sat Apr 01, 2017 8:56 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Extra 3% SDLT - Is this a way to legally reduce it?
Replies: 14
Views: 2812

Re: Extra 3% SDLT - Is this a way to legally reduce it?

I have lost count of the number of times I have been told my interpretation of the meaning of the letter of the law bears no resemblance to what it actually means - so I'm certainly not going to try to change your mind! I am beginning to think that there might be a loophole in this legislation (if m...
by someone
Sat Apr 01, 2017 6:58 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Additional stamp duty
Replies: 2
Views: 633

Re: Additional stamp duty

you do not have to pay the higher rate stamp duty. in another land transaction (“the previous transaction”) whose effective date was during the period of three years ending with the effective date of the transaction concerned, the purchaser or the purchaser’s spouse or civil partner at the time disp...
by someone
Fri Mar 31, 2017 5:41 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Extra 3% SDLT - Is this a way to legally reduce it?
Replies: 14
Views: 2812

Re: Extra 3% SDLT - Is this a way to legally reduce it?

Maths, I really do hope you are correct! However... http://www.legislation.gov.uk/ukpga/2016/24/section/128/enacted Meaning of “higher rates transaction” etc (3)In the case of a transaction where there are two or more purchasers— (a)take one of the purchasers and determine, having regard to that pur...
by someone
Fri Mar 31, 2017 2:02 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Extra 3% SDLT - Is this a way to legally reduce it?
Replies: 14
Views: 2812

Re: Extra 3% SDLT - Is this a way to legally reduce it?

maths - you got me all excited! Unfortunately, I don't believe your answer is correct. http://www.shoosmiths.co.uk/client-resources/legal-updates/higher-rates-sdlt-purchase-additional-property-11109.aspx This check should be carried out by each partner in the case of a purchase by a married couple o...
by someone
Thu Mar 30, 2017 9:01 am
Forum: Income Tax
Topic: Getting back my personal allowance
Replies: 4
Views: 1230

Re: Getting back my personal allowance

The number you use for your pension contribution is the amount that ends up in your pension. If your 2552 was via net pay (probably but not definitely) then that's the amount that was added to your pension and that's the amount that your taxable income reduces by. If it was via relief at source then...
by someone
Wed Mar 29, 2017 12:59 pm
Forum: Income Tax
Topic: Getting back my personal allowance
Replies: 4
Views: 1230

Re: Getting back my personal allowance

I don't think the 8228 company contribution has any effect on your taxable income. However, it does count towards the maximum you can pay into your pension. By eye it looks like your total pension contribution will be around 50K - which will only be work if you have unused allowances from previous y...
by someone
Wed Mar 29, 2017 12:47 pm
Forum: Income Tax
Topic: Carrying back charitable donations to previous tax year to increase pension annual allowance
Replies: 1
Views: 1264

Carrying back charitable donations to previous tax year to increase pension annual allowance

I am very close to the maximum pension contributions I can make due to the tapering annual allowance. The pension contributions have already been made via salary sacrifice. I intend to make an extra charitable donation to reduce my income to the point where my annual allowance exactly matches what I...

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