Cutting Tax

A question about : Capital Gain on house son occupies

I purchased a flat five years ago. It has never been occupied by myself or spouse, but it has always been occupied by my son.(that was the reason we bought it.) He is thinking of leaving it and we would then sell it. Anybody know what the capital gain cosequences will be?

A question about : CGT & Renovating Property

This is a theoretical question at the moment, but is hopefully in the pipeline soon.

I currently own and live in Property 1. If my partner and I continue to live in Property 1, and we buy Property 2 together (delapidated and in need of renovation), do up Property 2, then sell Property 1, move into Property 2, and buy Property 3 (to renovate), and continue the cycle...

Will we be liable for capital gains tax or would we be exempt from it because we will always be selling our main residence?

A question about : Capital Gains

Hi,

In Aug 2000 my sister and i bought a property on a residential mortgage (in my name). Neither of us have ever lived in it, it has in fact been rented out to a tenant for the past 4 years.

Now the tenant has gone we wish to sell, though need to find a way of reducing Capital Gains Tax.

My sister and I went into the buy to let thing together, though the house and mortage are in my name only. As a result, we got something signed and lodged it with a solicitor to say we co own the property.

A question about : previous tenant's unpaid income tax

If this thread is in the wrong category, I apologise.
This might be a bit of a simple question, but I've had several different answers and would like some clarification! So, my fiance and I have rented our current house for over six months now and we've started receiving letters demanding unpaid income tax from the previous tenant.

Do we just ignore the letter, send it back? We have no idea where the previous tenant actually went, abroad we're told but that doesn't help much.

A question about : life insurance

is my life insurance subject to inheritance tax
the best answer i can find is usually not
if ths is the case when is it subject to iht
thank you

A question about : Tax Rates 2012/13 Article Discussion

I have a small business doing windows i sub my work out can i pay them cash with a invoice from them

A question about : Rental Income Taxation

I have recently bought a 2nd House with my wife to rent out.
We have remortgaged our main house to raise the capital to buy the 2nd.
Our mortgage is split into repayment / endowment / interest only. The "interest only" is the value of the 2nd House.
Our rental income is Ј534 after paying letting agent fees.
This income will just about cover the mortgage payment.
Question ?

A question about : Do I have to declare this?

Hi There

I am on full time employment earning around Ј25K a year.
I have been recently asked to do a one off design work on my free time for around Ј200 for another company.
My questions are:
Do I have to declare this income?
Will I be taxed for it?

Thanks