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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 wife and I bought a property in her sole name on 18th July
My wife and I bought a property in her sole name on 18th July 2000 which we have used as a second home. The first property was bought for £65,000 by increasing our joint One Account mortgage by that a… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
I am non resident in the UK and plan to purchase a flat in
I am non resident in the UK and plan to purchase a flat in London ( buy to let). Would it be more tax efficient to set up a company in UK to purchase the property? What are the costs and how long woul… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,573 satisfied customers
I earn around £40k gross and pay tax via PAYE on this. I have
I earn around £40k gross and pay tax via PAYE on this. I have recently started to rent out a property. The rent is £475 per month. My monthly mortgage repayments are £355.00. How do I go about arrangi… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
I have a client who runs a limited company and for many years
I have a client who runs a limited company and for many years has overdrawn on his directors loan account. This has resulted in his having to pay S419 corporation tax for each of the last four years. … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
Hi there, My wife and I own to Buy-To-Let properties, both
Hi there, My wife and I own to Buy-To-Let properties, both of which are mortgaged on an interest-only basis. Unfortunately, the Rental income, not-to-mention the ground rent, insurance and maintenance… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
I have paid margin interest on USA Stocks I hold ina margin
I have paid margin interest on USA Stocks I hold ina margin account. Is the interest allowable deduction against capital gains? I have also Recived Dividends on these stocks. I am a Higher rate UK Tax… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
My daughter has bought a small house with a repayment mortgage
My daughter has bought a small house with a repayment mortgage of about £100 000. Her monthly repayments are about £600 per month. She is working away and not living in the house for the next 6 months… read more
Anne T
Anne T
Bachelor's Degree
146 satisfied customers
If I raise 171K mortgaging my own home (which doesnt currently
If I raise £171K mortgaging my own home (which doesn't currently have a mortgage) to purchase a Buy-To-Let property for that value can I offset the interest on that mortgage against the rental income?… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,573 satisfied customers
Hi. I was wondering if somebody could help me. My wife and
Hi. I was wondering if somebody could help me. My wife and i live in a property with no mortgage (Property A) and are looking to buy a house (Property B). We will need to take out a mortgage to do thi… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
On a buy to let investment, in order to offset the mortgage
On a buy to let investment, in order to offset the mortgage payments against the rental income to reduce tax liability, does the mortgage have to be taken on the buy to let property, or can it be take… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
i have two morgages and three properties, one residential morgage
i have two morgages and three properties, one residential morgage and one buy to let.i have reduced my residential morgage by 10% as any more would incurr a penaltly.i would also like to reduce the bu… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
Ive inherited a house with a mortgage (interest-only). My
I've inherited a house with a mortgage (interest-only). My options are to sell or rent it out. Would the mortgage be treated as a buy-to-let mortgage in terms of getting tax relief on its interest? I … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
Hi, I have two houses. One has a 90k mortgage, which i plan
Hi, I have two houses. One has a 90k mortgage, which i plan to rent out. The other has a 150k mortgage which i live in. I also have about 100k in savings. I am thinking of paying off my 90k mortgage a… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
I have 6 buy to lets. i am filling in my tax return and I see
I have 6 buy to lets. i am filling in my tax return and I see on the IR website the expenses that are allowed. Property 1 I have bought, renovated and sold but not received rental income. Can I use al… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
I own a property in Hillingdon which I am renting out at #800n
I own a property in Hillingdon which I am renting out at #800n per month so am in receipt of rental income. I am employed by Jobcentre Plus earning 15,150 per year. I have been told that I will receiv… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I recently sold a buy to let flat on which capital gains tax
I recently sold a buy to let flat on which capital gains tax is applicable. The IR will allow legal costs on purchase and sale, estate agents costs on sale, taper relief (the flat was owned for more t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 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
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