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Dear XXXXX I am preparing accounts for a client who rents out
Dear XXXXX I am preparing accounts for a client who rents out property. While I appreciate that solicitor fees for the aquistion of the property are capital expenditure and therefore not allowable aga… read more
Sam
Sam
Accountant
Higher Officer HMRC
16,052 satisfied customers
We sold our Company in 2010. The Buyer bought the shares but
We sold our Company in 2010. The Buyer bought the shares but not the retained profits. This was clearly set out in the SPA. The proceeds from the sale of the shares were declared as a capital distribu… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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Hi, I am in the process of selling my house in the following
Hi, I am in the process of selling my house in the following situation. We bought the house in 2006 and lived there until Apr 2010 when we moved to Australia. We rented the house out until December 20… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
We have completed on our buy to let property on April 15 2011,
We have completed on our buy to let property on April 15 2011, but buying, insurance and advertising and buying household stuff was mainly completed before april 5 2011. We had no other buy to let pro… read more
Sam
Sam
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Higher Officer HMRC
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Dear XXXXX (if you are still there), May I refer you to my
Dear XXXXX (if you are still there), May I refer you to my original question and your reply given to me last year on 15.06.10.? (There was some kind of reference no. : 40344.6567327199) The time has c… read more
Tony Tax
Tony Tax
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High School or GED
7,089 satisfied customers
What will the Capital Gains Tax on a second property be?
A question about UK Capital Gains tax on a second property. The property was never rented and never lived in as a main residence. My dad is selling his second home that he has owned for about 7 years.… read more
Sam
Sam
Accountant
Higher Officer HMRC
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Please could you give me an indication of my CAPITAL GAINS
Please could you give me an indication of my CAPITAL GAINS commitment. I have recently sold a flat and need to know how much money to put aside, many thanks Jill Rock On 11th April 1995 I bought a 50%… read more
TEAP007
TEAP007
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Fully Trained Inspector of Taxes B1
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UK Tax Self Assessment Hi I am filling my self assessment
UK Tax Self Assessment Hi I am filling my self assessment on line and want to know if I have to fill in the capital gains section or can I leave it blank? Details; I bought my flat in July 1998 I move… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
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My partner has a property which he purchased with his previous
My partner has a property which he purchased with his previous partner 10 years ago. Earlier this year he bought her out of the property and is now the sole owner. He lives with me. If we were to buy … read more
Sam
Sam
Accountant
Higher Officer HMRC
16,052 satisfied customers
I bought a flat for 44,000 on 19/08/92 and lived in it until
I bought a flat for £44,000 on 19/08/92 and lived in it until I rented it out 01/08/05 to 31/12/09. Over the period I stayed in the flat I put in a new, bathroom, kitchen, windows etc. which totaled £… read more
Sam
Sam
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Higher Officer HMRC
16,052 satisfied customers
My parents owned a property for over 20 years before renting
My parents owned a property for over 20 years before renting it due to ill health for the last 8 years (they moved in with us). The rental has just about covered the mortgage payments so there has bee… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
I have rented out a flat for the last 6 years but up to now
I have rented out a flat for the last 6 years but up to now haven't declared the income. Previously the rent has been about 50pm above the interest on the mortgage and apart from a new boiler, radiato… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hello Can you please give me any advice you can on this.
Hello Can you please give me any advice you can on this. In 2006 I inherited a small property in Crete from a friend. I paid all outstanding taxes that had been unpaid by my friend, EKA that he had no… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
Capital Gains tax on property I am selling my flat. bought
Capital Gains tax on property I am selling my flat. bought in July 1998, lived in the flat as my home until February 23rd 2007 I have let the flat from 24th February 2007 until 9th February 2010 with … read more
Tony Tax
Tony Tax
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High School or GED
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My partner inherited a house is 1991. The house was in her
My partner inherited a house is 1991. The house was in her name only. We lived there until her death in 2003. My name was added to the house deed in 2000/01. When my partner died the house was worth £… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I have a second property which i have just sold and my question
I have a second property which i have just sold and my question relates to Capital Gains Tax. The property is jointly owned We owned the property approximately for 8 years. We lived in the property as… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
Hi Again, 1. I moved out of my old property on 30/11/08
Hi Again, 1. I moved out of my old property on 30/11/08 and began renting it on 1/12/08. However, I began incurring expenses before 1/12/08 that relate to the business (e.g. insurance, bank fee, adver… read more
Sam
Sam
Accountant
Higher Officer HMRC
16,052 satisfied customers
I sold a flat in Dec 2007 for 104k that I bought in Dec 2002
I sold a flat in Dec 2007 for £104k that I bought in Dec 2002 for £44,500. I held the flat for 5 years. I never lived there but my mother lived in the flat for over 4 years and paid rent. How can I re… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
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