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my questions are regarding UK: (i) do you pay captial gains
my questions are regarding UK: (i) do you pay captial gains tax if you rent out a single room, with single lodger under the rent a room scheme, if you decide to sell your house? (ii) if you own one ho… read more
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hi,i have been employed by the same company for 14 years,
hi, i have been employed by the same company for 14 years, and during that period i have obtained share "options" from the owners. they put 20% of the total shares in a trust many years ago for distri… read more
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what is the tax rate for a Capital Gains Distribution from
I have a Capital Gains distrubution from a mutual fund held in the USA. What is the UK tax rate for this please? And where is it entered in my UK tax return? many thanks, David… read more
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Hi, My father left a modest amount of money in a discretionary
Hi, My father left a modest amount of money in a discretionary offshore trust fund (over 7 years before he died). As the fund is so small, the trustees have advised that their charges outweigh any ben… read more
UKSolicitorJA
UKSolicitorJA
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Question concerning my UK tax obligation. I am resident
Question concerning my UK tax obligation. I am resident of UK, but domisiled from the US Under this status, I understand that any 'US investment income' that I import to the UK will be subject to UK t… read more
UKSolicitorJA
UKSolicitorJA
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My son is two years old. My husband and I own two houses (one
My son is two years old. My husband and I own two houses (one has a very small mortgage but it will soon be paid off. the other one is fully mortgaged). With the aim of minimising tax inpact in case w… read more
Joshua
Joshua
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Discretionary Trusts I am a beneficiary under a Discretionary
Discretionary Trusts I am a beneficiary under a Discretionary Trust. My Uncle died leaving £162,500 in Trust for myself and a similar amount to my brother. The Joint Trustee has now decided not to go … read more
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Will you tell me the benefits and problems associated with
Will you tell me the benefits and problems associated with elderly parents placing a house In Trust for their children? Thank you.… read more
Joshua
Joshua
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A life interest trust that was established overseas, has now
A life interest trust that was established overseas, has now acquired UK trust status on account of the settlor and trustees becoming UK resident. In order to re-export the trust overseas, is it suffi… read more
Joshua
Joshua
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I am 59 years of age with 2 children age 21 and 23. I am buying
I am 59 years of age with 2 children age 21 and 23. I am buying a house, for my own use, although my children will use it from time to time, for £2.55m. It will be a cash purchase and I have plenty of… read more
UK-Justice
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I own an earn income from a property and I pay tax 0f 40% -
I own an earn income from a property and I pay tax 0f 40% - is there any way that ,I can divert this income to my children who do not pay tax - without making them joint owners of the property.… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
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My aunt is beneficiary of an interest in possesion trust whereby
My aunt is beneficiary of an interest in possesion trust whereby she has a life interest in the trust, receiving all trust income, with the capital in the trust going to her step children after her de… read more
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Joshua
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My wife bought a property for her mother to live in rent free
My wife bought a property for her mother to live in rent free on 01/05/1998 for £65000. Her mother lived there until her death on 15/11/09. The property remained empty until it was sold on 03/08/2010 … read more
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I would like to set up a trust whereby the income generated
I would like to set up a trust whereby the income generated would help pay for their school uniforms and/or non academic activities during their schooling. The trust to be responsible for any tax liab… read more
Joshua
Joshua
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Good morning I own a property worth approximately 220,000
Good morning I own a property worth approximately £220,000 which is let out. I have a £150,000 buy to let mortgage. I purchased this for £225,000 2 years ago. Could I, whilst continuing with the buy t… read more
Claire D
Claire D
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Bachelor's Degree
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Hi. I bought a buy to let flat with my wife in 2000 for 75k
Hi. I bought a buy to let flat with my wife in 2000 for £75k and we sold it in 2007 for £175k. I calculate my Capital Gains Tax to be £75k after the tapper of 75%. I earnt £19k in 2007/8 and my wife e… read more
Expert
Expert
My parents want to transfer a 50% interest in their house in
My parents want to transfer a 50% interest in their house in recognition of the support I have given them over the last 12 years. I have given them money to maintain/improve their house as well as my … read more
Expert
Expert
my father died in 1970 and my mother remarried in 1985 living
my father died in 1970 and my mother remarried in 1985 living in my fathers and her house with her new husband. She rewrote her will in 1999 leaving the house in trust to myself and her cash and share… read more
PTS Law Ltd
PTS Law Ltd
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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