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I am selling my property in the UK for £475k and incurred
Hi I am selling my property in the UK for £475k and incurred legal fees and capital costs etc of £30k, purchase price of £54k then brought freehold of £10k (included in the 30k). I lived in the proper… read more
bigduckontax
bigduckontax
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When buying company car or van does it make any difference
hi, when buying company car or van does it make any difference for tax purpose if it is on higher purchase , lees finance or contract hire? Can all the repayments be set off against corporation tax? M… read more
bigduckontax
bigduckontax
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Someone acquires a 10 year(short lease)with a right to renew,and
Someone acquires a 10 year(short lease)with a right to renew,and spends over £100,000 on improvements most of them of a capital nature(Partitions,floors etc).Should these expenses be capitalised or tr… read more
bigduckontax
bigduckontax
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I am selling my house in Africa to a Bulgarian gentleman. If
I am selling my house in Africa to a Bulgarian gentleman. If he sends the money from Bulgaria to me in th UK will I have to pay any UK tax on the sum received. The sale price is $282,000… read more
bigduckontax
bigduckontax
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Hello, My question is do Leasehold Improvements qualify for
Hello, My question is do Leasehold Improvements qualify for Annual Investment Allowance? The Commercial Property Rental Lease is for five years. If they do not qualify for AIA, what Capital allowances… read more
taxadvisor.uk
taxadvisor.uk
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This is a query for an accountant.My client has carried
This is a query for an accountant. My client has carried out 'refurbishment' on his leased office which is for installing a kitchen and fixed cupboards. Would this be classed as 'Amortisation' or 'Dep… read more
SoftwareVince
SoftwareVince
Senior Accountant
Master's Degree
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I share the freehold on a second property. In 2011-12 two leases
I share the freehold on a second property. In 2011-12 two leases were extended earning me c. £13K income. I made no other capital gains last year, receive no rental income from the property, and (othe… read more
taxadvisor.uk
taxadvisor.uk
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Two part question 1. How does one deal with Goodwill in the
Two part question 1. How does one deal with Goodwill in the accounts 2. How does one deal with Lease property in accounts?… read more
taxadvisor.uk
taxadvisor.uk
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Purchased the freehold of my Flat several years ago. Now wish
Purchased the freehold of my Flat several years ago. Now wish to surrender present lease and take extended lease for 999years. Advised that it may create a corporate tax liability in the Nominee Freeh… read more
berduchwal
berduchwal
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How is the amount a leaseholder in an RTE company pays to buy
How is the amount a leaseholder in an RTE company pays to buy the freehold treated for tax purposes?… read more
berduchwal
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My property is empty now, and I have a prospective tenant that
My property is empty now, and I have a prospective tenant that cannot take on a lease or rent the whole property. I have agreed to rent it out by the room (there are 2 therapy rooms), to this tenant a… read more
CDF Tax
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I am a book-keeper, some tax knowledge. Have put legal fees
I am a book-keeper, some tax knowledge. Have put legal fees for 3 year business property lease to balance sheet and amortised to profit and loss over a 3 year period in equal instalments. This amount … read more
mark25551
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Question relates to charity accounts. The charity has a building
Question relates to charity accounts. The charity has a building that they do not own rather the local authority own. The building has had substantial work on it. This is to be capitalised, i assume. … read more
mark25551
mark25551
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Hi - I purchased and now own a 25 year leasehold commercial
Hi - I purchased and now own a 25 year leasehold commercial property, and receive rent from a sub tenant; obviously this investment will be worth zero in 25 years, so, am I allowed to write off 1/25 t… read more
TonyTax
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I have a rental property and I am currently in the process
I have a rental property and I am currently in the process of purchasing an extension to the leasehold or buying the freehold. Cna I offset any legal costs and the marriage value of the lease extensio… read more
TonyTax
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do i need to pay tax when i sell my shop on a sublease im
do i need to pay tax when i sell my shop on a sublease? i'm selling it for £35k, goodwill- £25k and fixtures and fittings £10k Lease £0 Bought for £280k long leasehold £89k goodwill, £10k fixtures and… read more
Julie Kingham
Julie Kingham
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We are a limited company. This year we sold a small piece
We are a limited company. This year we sold a small piece of land for £22,500 to help offset the cost of buying the freehold of our five flats. We each paid £9,000 x 5 to find the rest of the £60,000 … read more
AnthonyL
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Can I offset the cost of extending my leasehold against tax
Can I offset the cost of extending my leasehold against tax on rental income received from the property?… read more
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