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Where Taxpayers and Advisers Meet

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by someone
Thu Mar 30, 2017 9:01 am
Forum: Income Tax
Topic: Getting back my personal allowance
Replies: 4
Views: 1376

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: 1376

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: 1371

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...
by someone
Tue Mar 28, 2017 10:27 am
Forum: Capital Gains Tax, CGT
Topic: Capital Gains Tax payment from Estate
Replies: 3
Views: 1005

Re: Capital Gains Tax payment from Estate

See this: http://researchbriefings.files.parliament.uk/documents/SN05271/SN05271.pdf In particular section 3.2 on page 8. If the estate has the money to pay the CGT bill then the estate is not bankrupt and the CGT (and any other debts) must be paid from the estate before distributing the residue. If...
by someone
Wed Mar 22, 2017 3:21 pm
Forum: Capital Gains Tax, CGT
Topic: Capital Gains tax calculation
Replies: 7
Views: 1559

Re: Capital Gains tax calculation

It doesn't affect my thoughts (but as I said, they might be as worthless as her brothers estate) I have no idea what HMRCs options are with regards to his gift to your sister. One possibility is that they can go whistle - the estate is bankrupt. But another is that the 22.5K gift to your sister can ...
by someone
Wed Mar 22, 2017 2:14 pm
Forum: Capital Gains Tax, CGT
Topic: Capital Gains tax calculation
Replies: 7
Views: 1559

Re: Capital Gains tax calculation

Then I think it goes something like this (but when there's a comment saying that I'm talking absolute rubbish then heed that advice) Her base cost is 50% of 32K plus 50% of 85K. So the gain is 85K less 58K less 2.23K Her brothers gain is 50% of 85K less 50% of 32K (which I think should have been dec...
by someone
Wed Mar 22, 2017 1:11 pm
Forum: Capital Gains Tax, CGT
Topic: Capital Gains tax calculation
Replies: 7
Views: 1559

Re: Capital Gains tax calculation

This is all way out of my league but I suspect the answer depends on whether she bought it from her brother while he was still alive or bought it from his estate after death.
by someone
Tue Mar 21, 2017 7:49 pm
Forum: Property Taxation
Topic: BTL transfer to spouse
Replies: 18
Views: 6446

Re: BTL transfer to spouse

This seems to have chapter and verse:

http://www.accountingweb.co.uk/any-answ ... th-husband

See "By Portia Nina Levin 21st Nov 2014 16:29"
by someone
Tue Mar 21, 2017 1:44 pm
Forum: Property Taxation
Topic: BTL transfer to spouse
Replies: 18
Views: 6446

Re: BTL transfer to spouse

I also understood the situation to be as per that article. However, the comment above was that it was joint legal interest that triggered the automatic 50/50 split in income. In order to get clarification I've just run up the HMRC helpline and, I quote: "you can split the income in whatever proporti...
by someone
Tue Mar 21, 2017 9:07 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: inheritance in UK for a Belgian coming to live permenantly in UK
Replies: 6
Views: 1370

Re: inheritance in UK for a Belgian coming to live permenantly in UK

It's not obvious what you are trying to achieve here. I know absolutely nothing about Belgium tax law at all but I'm guessing that what you're trying to do is avoid any inheritance tax when the first of you dies (which is the usual case in the UK but presumably not in Belgium) and that you don't rea...

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