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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
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High School or GED
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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
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I own an apartment which is a buy to let property which I paid
I own an apartment which is a buy to let property which I paid for from my pension pot. I declare the income less expenses on my self assessment tax return each year. However my son has acquired a loc… read more
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My wife and I bought a house over 10 years ago and paid 2/3s
My wife and I bought a house over 10 years ago and paid 2/3s of the cost in cash but our son took a mortgage for the balance and his bank asked for house to be in his name, which we agreed. The house … read more
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I have just let the flat and the tenants money is going into
I have just let the flat and the tenant's money is going into the Trust Settlement. My son has paid out £55,000 for the conversion. If this can be set up as a loan to the Trust and the tenant's money … read more
taxadvisor.uk
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Got married in 2004 and bought a flat for £250K with my wife
Got married in 2004 and bought a flat for £250K with my wife round the corner from my house/place of work. We both put in £15K and both our names were on the mortgage. My wife sold her flat a year lat… read more
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My son bought a flat some 7 years ago on which he still pays
My son bought a flat some 7 years ago on which he still pays a mortgage. He lived in the property for some 5 years. Approximately 2 years ago because of a change in his circumstances this flat proved … read more
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Hi, Having had our endowment matured, we put down deposits
Hi, Having had our endowment matured, we put down deposits on a flat for our son who is at Uni. My wife and I have 50% interest in the flat, which is our son's main residence, but service 100% of the … read more
Tony Tax
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if we sell our home in Singapore, will we be liable for capital
if we sell our home in Singapore, will we be liable for capital gains tax in the Uk (we live and work in the UK)… read more
Sam
Sam
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I wish to buy a property for my 24 year old son costing about
I wish to buy a property for my 24 year old son costing about £180,000. If we put the house in his name can I assume that we will not pay stamp duty as he would be a first time buyer? Are their any sp… read more
Sam
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Hi, My wife and I bought a flat 15 years ago as a second
Hi, My wife and I bought a flat 15 years ago as a second property. During the last 15 years we have used the property ourselves for a few brief periods probably totaling 2 years. Our son has lived in … read more
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Hi, I have bought a rental property jointly with my wife,
Hi, I have bought a rental property jointly with my wife, by taking out a Mortgae for £57k and borrowing £38k from a flexible mortgage on my own home. I have bought it on a repayment basis. The combin… read more
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i am employed and pay taxes. i was living i a flat for which
i am employed and pay taxes. i was living i a flat for which i pay a mortgage,but 1 year ago i moved to a new city. now renting an unfurnished house. i did not manage to sell my previous flat yet. so … read more
Andrew Baker(baktax)
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We own a flat, bought with a mortgage, which has been occupied
We own a flat, bought with a mortgage, which has been occupied rent free by our student son for circa 3 years. As he has now graduated and moved out, we have let the flat on a conventional basis at th… read more
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I have a flat which is my only property. I now live in a grace
I have a flat which is my only property. I now live in a grace and favor house. Can I treat the flat under the rent a room allowance of £4250 before tax?… read more
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We are planning to purchase a property for our son to live
We are planning to purchase a property for our son to live in while at University. A friend of his will pay him to lodge with him. Would we become liable for income tax on the amounts the friend pays?… read more
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My wife and I rented out our flat last financial year (08/09)
My wife and I rented out our flat last financial year (08/09) but the rental income didn't cover the interest payments of our repayment mortgage. What tax assesment form do we or I need to fill in (re… read more
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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
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