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Where Taxpayers and Advisers Meet

Search found 377 matches

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by someone
Wed Mar 08, 2017 7:17 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT
Replies: 2
Views: 619

Re: SDLT

I'm no expert on this but I think you will not have to pay the additional 3% As you are married you and your wife can only have one main residence and it sounds like you only have one residence therefore it is your main residence. (If you also live in the other property then it could be complicated)...
by someone
Wed Mar 08, 2017 6:33 pm
Forum: Income Tax
Topic: Charitable giving and Higher Rate tax
Replies: 3
Views: 1237

Re: Charitable giving and Higher Rate tax

"100000 contribution to charity" should, of course, have been "100000 contribution to their pension"
by someone
Wed Mar 08, 2017 6:31 pm
Forum: Income Tax
Topic: Charitable giving and Higher Rate tax
Replies: 3
Views: 1237

Re: Charitable giving and Higher Rate tax

Yes, you get your basic rate allowance back. Your charitable gift reduces your income. So if you earn 100005 and give £4 (net) to charity then the charity gets £5 which reduces your income to 100000. You get the £2.50 of allowance back and your tax bill goes down by £2. (60% of £5 less the £1 that t...
by someone
Wed Mar 08, 2017 2:35 pm
Forum: Capital Gains Tax, CGT
Topic: CGT advice on main residence (let for period)
Replies: 5
Views: 1108

Re: CGT advice on main residence (let for period)

I suspect you will have no tax to pay assuming it was your PPR for the period from purchase to letting. Doing this in my head so might have got the numbers wrong but: 6.5 years PPR plus last 1.5 years = 8 years PPR Total time owned is 9.3 years. (which I'll call 10) 80% PRR. 60K gain - reduces to 12...
by someone
Wed Mar 08, 2017 1:08 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Could postponing a marriage be considered tax avoidance?
Replies: 3
Views: 837

Could postponing a marriage be considered tax avoidance?

My girlfriend has been looking for a flat to buy for a considerable time after selling her house and moving in with me. We'd given up waiting and are due to get married in about 8 weeks. It's possible that a suitable flat is now available. From experience it's 50/50 (or less) that she could complete...
by someone
Wed Mar 08, 2017 9:59 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Missing liability
Replies: 1
Views: 487

Re: Missing liability

Don't know. But see this: http://www.icaew.com/-/media/corporate/files/members/regulations-standards-and-guidance/reserved-legal-services/14-ethical-considerations-for-probate-practitioners.ashx?la=en Page 2: An insolvent estate must be administered in the best interests of the creditors, not the be...
by someone
Wed Mar 08, 2017 8:44 am
Forum: Property Taxation
Topic: BTL transfer to spouse
Replies: 18
Views: 5327

Re: BTL transfer to spouse

Isn't there a possible issue with stamp duty, including the extra 3% as the property is mortgaged?

Can the OP give a beneficial interest in the income to the spouse without giving an interest in the property?

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