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Showing results for tags 'deductible'.
Please can someone help! I am in the process of buying my first property through my new ltd company. My guess is it will complete in 6 weeks or so. It is a 3 bed property that will be a single let. The property is perfectly habitable now and could easily be rented out as it is, however I want to do a fairly big refurb. E.g. replacing the kitchen and bathroom, new carpets, redecorate etc. This will mostly be a like-for-like refurb and I don't think the majority of it will count as a capital expense. If I do this work before I first put tenants in, am I right in understanding th
Hi all, I'm moving to Sweden so am in the process of renting out my property. Some repairs and maintenance work will need to be done on the property over the next year, which I understand I can deduct from the tax I will need to pay on the property, and I'm sure that this will amount to more than the tax owed. My question is, can you carry tax deductions from previous years over to new tax years? If this is possible, how many years can you carry this over for? Appreciate any tips on the matter, Eadon
I will give a short summary and eager to hear your thoughts about how to be smart about how to fund my company. I am a Swedish citizen (living in Sweden) setting up my UK LTD and have understood that expeses can be deductible even if the occured prior to the launch of my company. BUT if I have had eligable and deductible expeses of 1000 pounds (personal and taxed money), that 1000 can only be deducted against revenues to reduce my corporation tax. Which means I "save" 19% (190 pounds). Still that 190 pounds will have to be taxed (personal income or similar based on our Swedish rules)
I have a float of cash in my property SPV. I intend to invest some of this into peer to peer lending schemes, specifically in property. Question is whether the interest earned on these deposits are treated as normal income for the company or whether they are treated differently (as interest income is treated for individuals). As always, I will discuss with my accountant, but I wanted to see if there are any comments from hubbers. Thanks!