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Where Taxpayers and Advisers Meet

Search found 108 matches

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by Jholm
Thu Sep 05, 2019 10:12 am
Forum: Income Tax
Topic: New Computer Tax Deductible?
Replies: 2
Views: 1058

Re: New Computer Tax Deductible?

Claim as capital allowances and put the full amount in as Annual Investment Allowances. It will give you the full deduction as if you claim as a regular expense.

This assumes you expect to use the PC and software for a number of years, which I imagine you would.
by Jholm
Thu Sep 05, 2019 9:17 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Variation of a will and inheritance tax
Replies: 4
Views: 5622

Re: Variation of a will and inheritance tax

To clarify, is it left to you at present and you wish to make a variation for it to go to him directly? The usual variance would be to make an asset pass to a spouse (thereby becoming an exempt transfer), then gifting to the other party as a PET, which would only become chargeable if death occurs wi...
by Jholm
Tue Sep 03, 2019 8:21 am
Forum: Capital Gains Tax, CGT
Topic: CGT on residential home
Replies: 6
Views: 7076

Re: CGT on residential home

Not 100% sure what your question is as there isn't one!

Research the following reliefs for CGT:

PPR Relief (actual and deemed occupancy)

Lettings Relief
by Jholm
Tue Sep 03, 2019 8:19 am
Forum: Income Tax
Topic: Both property and trading income
Replies: 5
Views: 1146

Re: Both property and trading income

Declared the income and then claim the allowance rather than omit entirely
by Jholm
Wed Aug 28, 2019 4:28 pm
Forum: Income Tax
Topic: Working for a Dutch company
Replies: 4
Views: 10634

Re: Working for a Dutch company

Taxation rules around residency can be complex but without the full facts, it is not possible to comment.
by Jholm
Wed Aug 28, 2019 1:46 pm
Forum: Income Tax
Topic: Working for a Dutch company
Replies: 4
Views: 10634

Re: Working for a Dutch company

As a UK resident, you would indeed be subject to UK tax. I assume they would pay you as an employee in the UK?
by Jholm
Wed Aug 28, 2019 11:42 am
Forum: Business Tax
Topic: How to deal with partnership accounts following death of partner
Replies: 3
Views: 19050

Re: How to deal with partnership accounts following death of partner

Essentially you are correct re: the partnership to sole-trader transition. Given the amount of potential tax/interest/penalties at stake, I would STRONGLY suggest that you appoint a professional immediately to deal with this. Partnership penalties are applied by partner so your mum and dad would bot...
by Jholm
Tue Aug 27, 2019 8:09 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT Gifts
Replies: 1
Views: 13899

Re: IHT Gifts

1. No 2. Domicile. A non-domiciled spouse has a limit of £325,000 being exempt. 3. Provided the amount given is regular and habitual (eg. monthly) and comes from 'excess income' (i.e. doesn't reduce your quality of living), then exempt. 4. No. If over £250, the whole amount becomes a PET. You have a...
by Jholm
Tue Aug 20, 2019 4:42 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Tax on compensation payment
Replies: 1
Views: 11395

Re: Tax on compensation payment

The first thing you need to do is establish the facts in great detail... What exactly is the compensation for? You say it relates to his employment but how so? If for example, it is for loss of earnings, then yes it would be taxable. If it was for injury whilst working, then no. There are lots of fa...
by Jholm
Tue Aug 20, 2019 8:14 am
Forum: General
Topic: I can’t get access to self assessment. HELP !
Replies: 1
Views: 11762

Re: I can’t get access to self assessment. HELP !

It often requests you enter a backup means of getting the code, which seems you are double-entering the details. Is there a tab at the bottom that says 'I can't do this now'? If so, click that and it should bypass.

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