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Related UK Tax Questions
I have an Offset mortgage ( one) guranteed against
I have an Offset mortgage ( virgin one) guranteed against my current residential home which is largley paid off. I I plan to use the facility to buy a second home to let. Can I use the interest i will… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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My daughter borrowed £106K from me to buy a flat. She is paying
My daughter borrowed £106K from me to buy a flat. She is paying me back at the rate of £9600 per year. She now rents out two rooms for a total of £9600 per year. This is above the Rent a Room tax allo… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Hi I have a property that my wife and I rent out. The property
Hi I have a property that my wife and I rent out. The property is in joint names and we are both registered with the local council as landlords. For the first 7 months we allowed our niece to stay in … read more
Tony Tax
Tony Tax
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High School or GED
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I am a trustee of a trust which has converted a flat costing
I am a trustee of a trust which has converted a flat costing around £45,000 and also has borrowed £25,000. The rent will be about £18,000. Can the rent be used to pay off the loan and offset the addit… read more
Mrs-Tax
Mrs-Tax
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Bachelor's Degree
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Hi, I need to ask a question: I will explain my situation
Hi, I need to ask a question: I will explain my situation first: I am currently a normal PAYE on the 40% tax band; I initially lived with my parents and bought their house of them as they were plannin… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi, i have a property which i own but is not my main residence.
Hi, i have a property which i own but is not my main residence. I let other family live there rent free - however i do have a mortgage on this property - can i offset the interest i pay against anothe… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
During the last tax year I was fully employed, had an income
During the last tax year I was fully employed, had an income from a rental company and also started up my own company. I invested quite a bit of money into the company during set up (£50k). Am I able … read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,152 satisfied customers
If I borrow money informally from a friend to build a house
If I borrow money informally from a friend to build a house and let it and share some of the rent with the friend can I claim this money as an expense on may tax return Many Thanks… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Three years ago we bought a second home with a new mortgage,
Three years ago we bought a second home with a new mortgage, moved into this and let out our original property, for which we set up a new buy to let mortgage to replace the previous residential mortga… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi Sam; a further question we martgaged our residential home
Hi Sam; a further question: we martgaged our residential home to raise money to buy a property we now let. We do not have a mortgage on our residential home other than to fund the rental: can we 'cros… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
i am about to purchase a small retirement flat for my eighty
i am about to purchase a small retirement flat for my eighty year old mother using a mortgage in the most part , i wondered if i would be able to use the tax relief on mortgages as a tax break on the … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi Tony You answered a query of mine a while back 11-20-09
Hi Tony You answered a query of mine a while back 11-20-09 and were very helpful . A summary of our situation is as follows: - I am 62 I do not work following a bad back injury and have a small pensio… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Im in the process of buying a second property in the city
I'm in the process of buying a second property in the city where my son has just started uni so he and some of his friends can rent it next year (ie BTL). To raise the capital to purchase this second … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi I am 62 I do not work following a bad back injury and have
Hi I am 62 I do not work following a bad back injury and have a small pension as a result. With an inheritance we bought a couple of properties including one in Scotland, plus 2 abroad. I know that ca… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
we want to buy a rental property and have paid off the mortgge
we want to buy a rental property and have paid off the mortgge on our own house so we intended to borrow enough money on our own house and then use that to buy a rental property. However, we were not … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
We bought a property in France in 2005 and have received rent
We bought a property in France in 2005 and have received rent income (from a lease back scheme) of about €5,000 pa. Our french accountants "do what ever they do" as far as the french tax authorities a… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,700 satisfied customers
Hi - i am looking at buying a UK property to let as a holiday
Hi - i am looking at buying a UK property to let as a holiday rental. I want to set mortgage interest off against rental income for tax purposes. Are there any limitations on what mortgage i can choos… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Im looking into buying a flat to rent out as an investment
I'm looking into buying a flat to rent out as an investment for my young children. Having looked at the "buy to let" mortgages availible I'm now considering raising the capital by re mortgaging my hou… read more
Mrs-Tax
Mrs-Tax
Tax Adviser
Bachelor's Degree
59 satisfied customers
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