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Where Taxpayers and Advisers Meet

Search found 228 matches

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by AdamS93
Sat Jan 13, 2018 4:12 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Inheritance/Gift Tax Help
Replies: 6
Views: 803

Re: Inheritance/Gift Tax Help

Hi Archerma, On the presumption that you (and your spouse) are neither UK resident nor UK domiciled only your assets situated in the UK will be subject to UK IHT. Therefore, if you are gifting cash from a bank in Canada to the UK then, if you where to pass in the 7 years from the date of the gift th...
by AdamS93
Sat Jan 13, 2018 3:24 pm
Forum: Company Taxation
Topic: CT on interest received in current account
Replies: 3
Views: 1217

Re: CT on interest received in current account

You can offset current year trade losses against total income CTA 2010 s.37 (3)(a) subject to restrictions which are very unlikely to apply
by AdamS93
Sat Nov 25, 2017 9:11 am
Forum: Income Tax
Topic: Company fuel card
Replies: 3
Views: 58114

Re: Company fuel card

Agree with bd, it is irrelevant how much you used it for personal use... you attract the benefit in kind if the car is available for use, whether you do 10 personal miles per annum or 100,000. The fuel benefit is the same, the only way you can reduce the fuel benefit is if you repay the cost of ALL ...
by AdamS93
Sat Nov 25, 2017 9:05 am
Forum: Income Tax
Topic: Property Income
Replies: 2
Views: 25276

Re: Property Income

There are ways to move income from one person to another and it involves changing the beneficial ownership of the properties in question. This will involve a declaration of trust. This will have all sorts of tax issues from SDLT, CGT and IHT... Without further information it is impossible to give an...
by AdamS93
Sat Nov 25, 2017 8:56 am
Forum: Income Tax
Topic: Why don't pension contributions reduce my income?
Replies: 2
Views: 41633

Re: Why don't pension contributions reduce my income?

Firstly, if I were you, I would pay for a meeting with a tax adviser, as an employee shouldn't cost an arm and a leg. Unfortunately, if you have received a 20% tax credit on your pension contributions, these are included in your taxable income for the purposes of the free childcare. Where you receiv...
by AdamS93
Thu Nov 23, 2017 7:05 pm
Forum: Property Taxation
Topic: Land transffering to Limited Company
Replies: 2
Views: 41806

Re: Land transffering to Limited Company

I can't see why there would be no SDLT payable since you are transferring the land to a limited company the surcharge is very likely to apply. Also, don't just assume it is CGT you will be subject to. Have a look at the transactions in land rules, you may be subject to income tax and national insura...
by AdamS93
Tue Sep 26, 2017 6:48 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp duty on a new property during divorce - Help
Replies: 3
Views: 30907

Re: Stamp duty on a new property during divorce - Help

It depends, if you own another property on the date of purchase you will be subject to the additional SDLT - however, if you sold/transferred the property within 18 months you could reclaim this additional SDLT. Married couples are treated as one for the purposes of the additional SDLT so therefore,...
by AdamS93
Tue Sep 26, 2017 6:37 pm
Forum: General
Topic: Company CAR
Replies: 2
Views: 3387

Re: Company CAR

As an employee, if you make contributions towards the private use of a company car, this can be used to reduce the taxable benefit that arises - see ITEPA 2003 s144

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