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Where Taxpayers and Advisers Meet

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by darthblingbling
Sun Jan 05, 2020 1:13 am
Forum: Income Tax
Topic: Tax code issues with self assessment - help
Replies: 19
Views: 1862

Re: Tax code issues with self assessment - help

You may be able to see the breakdown of your code on your online HMRC account.
by darthblingbling
Sat Jan 04, 2020 9:23 pm
Forum: Income Tax
Topic: Tax code issues with self assessment - help
Replies: 19
Views: 1862

Re: Tax code issues with self assessment - help

Depends why the tax code is 1222L

You'd need to see a breakdown of the code. Has HMRC sent you anything?
by darthblingbling
Sat Jan 04, 2020 6:20 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 1244

Re: Private use adjustment

So you split the income from the lodger 50:50?
by darthblingbling
Sat Jan 04, 2020 4:53 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 1244

Re: Private use adjustment

As long as it's her main residence and it's furnished lodgings it should be fine.

With regards to joint ownership, seems beneficial ownership is wholly with your sister and she's getting all the income? If so she should get the full allowance
by darthblingbling
Sat Jan 04, 2020 4:39 pm
Forum: Capital Gains Tax, CGT
Topic: CGT status of UK citizen not in living in the UK
Replies: 5
Views: 818

Re: CGT status of UK citizen not in living in the UK

The anti avoidance provisions mentioned above will apply. However, if you were given the shares during the period of non residency and you subsequently dispose of the shares while non resident then this will remain outside the scope of the above provision. However, you will likely remain subject to ...
by darthblingbling
Tue Dec 31, 2019 7:13 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 1244

Re: Private use adjustment

Does this not qualify for rent a room relief?
by darthblingbling
Tue Dec 31, 2019 4:13 pm
Forum: Property Taxation
Topic: Private use adjustment
Replies: 10
Views: 1244

Re: Private use adjustment

Quick question, how much income does she generate annually from renting out the rooms?
by darthblingbling
Tue Dec 31, 2019 4:11 pm
Forum: Property Taxation
Topic: Cgt before and after April 2020
Replies: 3
Views: 682

Re: Cgt before and after April 2020

Slightly higher annual exempt allowance but less principal private residence relief available as from April 2020 you'll only get 9 months deemed occupancy at the end as opposed to 18 months. I assume £11400 is a typo and you meant £114000? (If not, you got a bargain!) Where else did your sister live...

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