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I am selling some land privately for £350,000 but will receive
I am selling some land privately for £350,000 but will receive the money in a £250,000 sale price and a £100,000 gift. Can I receive the gift money without any Capital Gains tax implications on this -… read more
Sam
Sam
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Higher Officer HMRC
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Hello, The purpose of this enquiry is to determine whether
Hello, The purpose of this enquiry is to determine whether the proposal set out below will expose me to any tax liabilities, including personal taxation, stamp duty and inheritance tax. The Proposal M… read more
TEAP007
TEAP007
Tax Preparer
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Hi My father in law owns and lives with his wife in a house
Hi My father in law owns and lives with his wife in a house valued at £700,000. He wants to sell the property for £350,000 to my wife and I and use the £350,000 to buy and move into a flat with his wi… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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Hi, Its Mark here again! My earlier question related
Hi, It's Mark here again! My earlier question related to selling my apartment in France, which we are considering doing in order to buy a house here in the UK. The other option which we are considerin… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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I purchased my principal property from April 2004 for £220,000.
I purchased my principal property from April 2004 for £220,000. I moved into rented accomodation in November 2008 and rented my property out between then and July 2010. I sold the property in October … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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I want to buy a smallholding with my wife as our sole residence,
I want to buy a smallholding with my wife as our sole residence, of about six acres, costing about £400,000. The plan is that when we are old and need care we can sell it for an annuity. I have just s… read more
Tony Tax
Tony Tax
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High School or GED
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My wife and I bought a second home in 1999 for 145,000 of
My wife and I bought a second home in 1999 for £145,000 of which £75,000 was raised through a mortgage. We might sell it for £350,000 ( we have an offer ) but the mortgage is now approx. £125,000. Thu… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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My partner and I bought a flat in London in 1999 for 157500,
My partner and I bought a flat in London in 1999 for £157500, which we lived in until 2002. We then went to live overseas until 2006. When we returned we moved to the Midlands due to work opportunitie… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,573 satisfied customers
UK Resident inherets 350,000 IRA (Pension account) from US
UK Resident inherets 350,000 IRA (Pension account) from US resident ( deceased is not a relative of person living in the UK . How is this treated by HMRC and will there be any tax to be paid?… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
MY PARENTS ARE PROPOSING TO SELL THEIR HOUSE(MAIN PRINCIPAL
MY PARENTS ARE PROPOSING TO SELL THEIR HOUSE(MAIN PRINCIPAL RESIDENCE) FOR £180,000 AND TO BUY A NEW HOUSE FOR £250,000 WITH MYSELF PAYING THE DIFFERENCE OF £70,000 IN CASH. IF THE NEW HOUSE IS PUT IN… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,573 satisfied customers
I have been approached by a property developer who wants to
I have been approached by a property developer who wants to buy half of my garden. Will I have to pay Capital Gains Tax and if so, what percentage? V Winchester… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
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I part own a house lived in by my mum. My name is on the deeds.
I part own a house lived in by my mum. My name is XXXXX XXXXX deeds. I "bought in" to the house 16 years ago. My mum is also part owner. There are no other owners. I live nearby, in my own home, so my… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
hello sam, i bought an old fishermans cottage in a semi derelict
hello sam, i bought an old fishermans cottage in a semi derelict state in July 2007 (I am a self employed builder) for £250k. I spent about 40k on repairs + labour. It was left empty for the first 12m… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,573 satisfied customers
I AM SELF EMPLOYED.BOUGHT A HOUSE AS BUY TO LET IN MAY 2003
I AM SELF EMPLOYED.BOUGHT A HOUSE AS BUY TO LET IN MAY 2003 IT WAS LETTED OUT FROM THAT DATE UP UNTIL APRIL 2009 WHEN WE MOVED IN AND MADE IT AS OUR MAIN RESIDENCES. BOUGHT IT FOR £90000.00 IN MAY 200… read more
Louise
Louise
Master's Degree
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Hi We moved from the UK to Perth in April 2004 and left
Hi We moved from the UK to Perth in April 2004 and left behind a house in London which has been rented continuously since then. We have not bought any other property either in the Uk or Australia sinc… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,573 satisfied customers
I have three properties in total 2 rented out and 1 I AM LIVING
I have three properties in total 2 rented out and 1 I AM LIVING IN MYSELF WITH MY FAMILY. I FIND IN DIFFICULT TO PAY THE MORTGAGE ON THE RENTED PROPERTIES SO I WOULD LIKE TO SELL MY LIVING HOME TO RED… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
Hello, We bought a house in France in August 2007 and moved
Hello, We bought a house in France in August 2007 and moved in permanently in july 2008 We still have our first home in england which we tried to sell prior to the move but couldn't.We are currently r… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,573 satisfied customers
My parents have made separate wills and jointly own their house. In
My parents have made separate wills and jointly own their house. In the terms of each of their wills, when one of them dies their half of the house will be passed to my sister and me, therefore, I wil… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,062 satisfied customers
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