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Related UK Tax Questions
Question re Property and rental income.I have a client who
Hi Tony, question re Property and rental income.I have a client who is a 40% Tax payer & has just bought a 2 bedroom flat jointly with her husband (not a client at the moment). They wish to put their … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I am considering of selling my second home and buy a new property,
I am considering of selling my second home and buy a new property, I would appreciate some advice on the capital gain tax. I bought my first property in my sole name in London in September 2010 and th… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
Hi.We have 2 properties, a house and a flat. My wife has
Hi. We have 2 properties, a house and a flat. My wife has a flat in her maiden name which we were unable to sell due to negative equity when we were looking to buy our main home. We have subsequently … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Good morning. I wish to let our existing property; we have
Good morning. I wish to let our existing property; we have a mortgage of 137,000. We have owned it jointly as man and wife for 8 years. I am intending to take out a new buy to let mortgage of 282K of … read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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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
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
My husband has recenly died and we have another house, besides
My husband has recenly died and we have another house, besides the one we live in. My question is - Can we transfer this second home to our son, who lives there now, (and the house is within the nil r… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
Hallo, I believe that it is possible to elect for a second
Hallo, I believe that it is possible to elect for a second home to be designated as the principal private residence for, say, one month for capital gains tax purposes. Are you able to give any detail … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
My ex husband and I bought a flat 280,000 approx with a mortgage
My ex husband and I bought a flat £280,000 approx with a mortgage of £230k 7 years ago, we got divorced 5 years ago transferring the property to me at £280000. I have a mortgage of £226,000 and it is … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I have just sold my main home, where I have lived for 15 years
I have just sold my main home, where I have lived for 15 years and am planning to down size and move into my holiday flat, which I have owned for 5 years. It has never been rented out and throughout h… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
i have converted my terraced house into 2 separate flats, i
i have converted my terraced house into 2 separate flats, i would like to sell one of the flats, do i have to pay CGT and is there legal way of avoiding it?… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
I bought a flat for 57,000 and spent 20000 for improvements
I bought a flat for 57,000 and spent £20000 for improvements and fees, total £75,000, 8 years ago, then remorgaged 5 years later for 96 000 to help purchased the flat beneath which is clear of debt. T… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My mother-in-law is in a nursing home and we will be selling
My mother-in-law is in a nursing home and we will be selling her property to fund some of the nursing home fees. We are looking to purchase a flat for my daughter and would like to fund this with some… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I recently bought a house and now live there. When I purchased
I recently bought a house and now live there. When I purchased it, there was planning permission to build another dwelling at the side after demolishing some of the house in now live in. I have starte… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
Hi my situation is this. My husband and I moved into our property
Hi my situation is this. My husband and I moved into our property in 1993. We separated in January 2005 and divorced in 2007. I am now selling the house which is still in joint names (both in title an… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I recently asked a question about UK inheritance tax which
I recently asked a question about UK inheritance tax which was answered very well by Sam. I now know that I am unable to use any current legal way to avoid IHT but was wondering if I can use Equity Re… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
A victorian property purchased 5 years ago for 500,00o has
A victorian property purchased 5 years ago for £500,00o has a derelict sub basement used solely for storage. The area has in the last year been converted into a one bedroom flat at a cost of £50000 wi… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
Im married and share a home with my wife here in Edinburgh
I'm married and share a home with my wife here in Edinburgh UK. We have a 2nd home (1-bedroom flat) also in Edinburgh which is in my name. It is let to short term executive tenants through an agency. … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I own a flat in Ednburgh which has been rented out in the past
I own a flat in Ednburgh which has been rented out in the past but which, for the past 13 months has been my main residence to be close to my 95 years old mother. Recently I've decided to return south… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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