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Found 12 results

  1. Hi guys, I am setting up a portfolio using a ltd company - I have been quoted £300 + £95 for each additional property for reporting to HMRC and then an additional £125 for companies house reporting. Is this a normal price? Thanks!
  2. Hi Hubbers, I'm looking to submit my CT600 and I hope to use TaxCalc to do so. However when looking at the supplementary pages offered the site offers CT600A to CT600K. Could someone please advise what supplementary page covers a UK Property Rental Ltd Company? Thanks a lot! Jordan
  3. I'm looking for a bit of guidance on filing my first accounts to HMRC, without an accountant. I've had a good look through this forum and haven't found the answers I was hoping for so... I'm keen to do as much as possible myself, including my accounts. I've kept all the books but now It's time to file my first company accounts. Where do I start?! Below are a list of problems I encountered once I logged onto HMRC: 1. It's saying I can only file my Companies House accounts and that I need tax software to upload my HMRC accounts - why is this and ho
  4. Hi all, This post is to see if anybody has had a similar problem to me this year, and if so to seek mutual solace that we are not alone!! I submitted my return in October, online. The amount was low enough to be paid through PAYE, which I opted for. At the start of 2018 I was getting text messages from HMRC reminding me to pay. I logged in and my account said "You have nothing to pay" which I took as confirmation it would be taken through PAYE. However by yesterday this was still niggling me so I logged in. My account was now saying I had to pay
  5. Hi, I have a loss of about £50k in capital gains losses. Am I right in understanding that HMRC no longer allow losses to be carried forward indefinitely and I will just have to kiss that money goodbye? One option is to sell other properties which would allow me to use the loss before it "expires", but doesn't seem like a very smart idea in general... Are there any other options that I'm missing? This is a pretty bitter pill to swallow if I can't use the losses as and when I wish to sell up in future. Many thanks!
  6. For those with individual properties worth more than £500k held within a Ltd. Company you may wish to read this article in The Telegraph: http://www.telegraph.co.uk/tax/news/hidden-mansion-tax-could-cost-buy-to-let-investors-thousands/ Another great reason to be investing in the Northern Powerhouse and especially Gods County - Yorkshire! Where investment properties don't tend to exceed £500k ;o)
  7. Hello I'm hoping someone might be able to help with the following: I help my brother with his VAT, we registered him six months ago and he submits his return quarterly. He buys and sells a small amount of machinery and has bought 10 items recently paying VAT, each approx £1k each (inc VAT). He has only sold about 5 of the machines and charged VAT selling them. We have stated this in the two quarterly returns filled out. Our recent claim back for VAT was approx £1k. The HMRC have contacted us asking for more information and have said that they wou
  8. Hi all, You may already have seen the Law Society's comments and subsequent news coverage of the latest amendment to the Finance Bill 2016. Clauses 77 and 78 give rise to an income tax liability for property disposals in the United Kingdom. The Law Society was concerned that: the clauses were introduced hastily and with no formal public consultation; and the wording of the clauses implies that buy-to-let investors could be affected If so, property disposals could attract income tax bills as high as 45%, rather than capital gains tax bills of 28%. We have covered the topic in depth
  9. The budget announcement changed an awful lot In previous years you could offset all of the mortgage interest you paid against your property income. If your property was furnished then you were also allowed a 10% wear and tear allowance. Both of these things helped to reduce your tax bill. But the world has changed since the most recent budget announcements, which I covered extensively in my previous article. Now you will not be able to offset all of your mortgage interest costs if you are a higher rate taxpayer, or even if your rental income before deducting mortgage interest costs pus
  10. Baffled by the new changes to taxation being introduced in April 2017 and how they affect YOUR situation. Start getting a handle on the bigger picture today by reading this recent tax guide and get in touch.............. Property and Tax (March 2016).docx
  11. Hi My wife and I are currently buying our first investment property. My wife is a stay at home mum and I am a higher rate taxpayer (40%). In order to maximize the use of my wifes tax allowance we are looking at owning the property as tenants in common with a 99% / 1 % split between my wife and myself respectively. Would HMRC then treat this as 99% of rental income being attributable to my wife (with relevant form 17 filled out)? I'm not looking to set up a LTD company at this time, and both our names will be on the mortgage agreement. Any help or advice from Hubbers would be greatly appre
  12. Budget announcement – March 2016 What has changed? Corporation tax – Corporation tax will eventually drop to 17%, which is significantly lower than basic rate tax bracket of 20%. Tax bands: – Personal Allowance will increase to £11,500, and the higher rate threshold will rise to £45,000 in April 2017 Read about more of the changers in this article - http://www.optimiseaccountants.co.uk/budget-announcement-march-2016v2-2/#.VwN_URMrJE4
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