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Where Taxpayers and Advisers Meet

Search found 51 matches

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by dotto
Thu Oct 08, 2009 12:09 pm
Forum: Capital Gains Tax, CGT
Topic: Business outbuildings included in PPR
Replies: 5
Views: 863

Re: Business outbuildings included in PPR

I am therefore now assuming that because the vendor has used the outbuildings as a business, and they belong to him, HMRC would not now allow him to include these buildings in his PPR. Would this mean I would have to purchase this part separately, and he would incur capital gains tax on the building...
by dotto
Wed Oct 07, 2009 4:59 pm
Forum: Capital Gains Tax, CGT
Topic: Business outbuildings included in PPR
Replies: 5
Views: 863

Re: Business outbuildings included in PPR

Thank you for your response. Can I take it then that it is OK for the whole site to be taken as PPR for the vendor. The vendor and myself have been to see an accountant who is supposed to be letting us have this information but getting hold of him is nigh on impossible - although I appreciate this i...
by dotto
Wed Oct 07, 2009 11:14 am
Forum: Capital Gains Tax, CGT
Topic: Business outbuildings included in PPR
Replies: 5
Views: 863

Business outbuildings included in PPR

I am purchasing a property that stands in half an acre and which the vendor currently occupies. The vendor runs a small business from outbuildings at the entrance to the site, for which he has planning permission for his personal use only. When the sale is completed, the business will move elsewhere...
by dotto
Fri Aug 21, 2009 4:22 pm
Forum: Capital Gains Tax, CGT
Topic: Capital Gains on part of property sale
Replies: 7
Views: 996

Re: Capital Gains on part of property sale

Yes, I live in the property and have owned it since my mother's death in March 2008. The total probate was £500,000 - do I need to get a valuation for the third portion of land as at the time I became owner. Do HMRC accept an estate agent's valuation or should I employ some sort of surveyor. I have ...
by dotto
Fri Aug 21, 2009 2:25 pm
Forum: Capital Gains Tax, CGT
Topic: Capital Gains on part of property sale
Replies: 7
Views: 996

Re: Capital Gains on part of property sale

Sorry Peter, I dont know what SDLT is. The purchaser is a lady with a son. She would like to purchase the bungalow and her son the plot of land. I don't think she is trying to avoid paying anything - or is it me avoiding? Her son would like to self build eventually. Could you explain SDLT. We don't ...
by dotto
Fri Aug 21, 2009 1:47 pm
Forum: Capital Gains Tax, CGT
Topic: Capital Gains on part of property sale
Replies: 7
Views: 996

Re: Capital Gains on part of property sale

Thank you so much for responding. The land etc is in a conservation area in a village where there are cottages, new properties etc all jumbled up as you would expect in a village situation. The strip goes off the main road and starts with the hairdressing shop, which used to be the slaughterhouse!! ...
by dotto
Thu Aug 20, 2009 10:28 pm
Forum: Capital Gains Tax, CGT
Topic: Capital Gains on part of property sale
Replies: 7
Views: 996

Capital Gains on part of property sale

My property consists of a long strip of land on which sits a bungalow with a large garden and a further area on which sits commercial properties. The bungalow and plot take up two thirds of the area and I have a prospective for the bungalow and plot of land. From a previous thread I am aware that I ...
by dotto
Mon Mar 16, 2009 11:21 am
Forum: Capital Gains Tax, CGT
Topic: Splitting off plot of land on house sale
Replies: 2
Views: 453

Re: Splitting off plot of land on house sale

Thank you for your reply which was very helpful.

DC
by dotto
Thu Mar 12, 2009 4:52 pm
Forum: Capital Gains Tax, CGT
Topic: Splitting off plot of land on house sale
Replies: 2
Views: 453

Splitting off plot of land on house sale

Since my mother died, I have owned the family bungalow which stands within a fairly large plot. I still live in the bungalow but intend moving when I find a suitable alternative home. I would like to sell the bungalow and plot of land as two separate transactions - the plot is currently part of the ...
by dotto
Sun Apr 06, 2008 10:42 pm
Forum: Capital Gains Tax, CGT
Topic: Do I need to file a tax form
Replies: 1
Views: 539

<t>I sold a property 2007-2008 which had been rented out. This was sold at a loss because of last year's flooding. March 2008 I sold half of another property I rent out in order to take advantage of taper relief and also to claim the loss on the first property against the gain on the second property...

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