dave888

Hello HMRC Admin 20, Thanks for the reply. I see three ways into enjoying the use of a house: 1) borrow from a bank and pay mortgage interest, 2) enter into a lease and pay the rent, or 3) pay the price in full, although not burdened with interest or rent, but lose the cash flow that would otherwise be available prior to the purchase. In cases 1) and 2), part of interest and rent are allowable deductions. For case 3), it remains unclear, after reading the Manuals, whether part of the "lost cash flow" can also be an allowable deduction. Or can one simply obtain an estimate of fair market rent and use that as the basis to calculate the deduction? Thanks

Hello, My wife and I jointly own a house, fully paid with no mortgages. We also serve our private limited company as two of its only directors. Our company uses our house as the registered office and we also work from home like 16 hours a day, 7 days a week, non-exclusively from one room. Owning a property generally involves quite a few running costs such as rent, council tax, electricity/gas/water, insurance, cleaning, and management charges that's quite common for new builds these days. Our question is, given our current situation, can we make reference to rightmove.com for the current market rent and dial that in the total costs of running the property, and charge the fair share of the costs to our company without burdening ourselves with additional income taxes? With kind regards Dave

Hi, Thanks for the reply. That's my understanding too and it makes our lives much easier. On a separate note, "Exchange rates from HMRC in CSV and XML format" provides us with a "31 Dec" and a "31 Mar" yearly average spot rates, effectively excluding circa 250 daily closing rates announced by the Bank of England. By any chance that we are free to apply BoE's daily (c.250 rates a year) in addition to the four (4) sets of HMRC official exchange rates? Cheers

Hello, For a rather borderline case where the 100 shares of AAPL bought on 1st Jan was sold on the SAME day, does leeway still exist for one to choose different rates, say, picking the DAILY rate for the purchase and the ANNUAL rate for the disposal? Thanks

Hello, There seems to be some flexibility as to the determination of the "prevailing" exchange rate, hence the use of eg., daily, monthly, or annual rates for ascertaining the GBP equivalent of asset acquisition or disposal. My question is, for example, can I use the January MONTHLY rate while calculating the acquisition of 100 shares of APPL on 1 Jan 2022, and use the 2022 ANNUAL rate for the disposal of the same 100 shares of APPL on 31 Dec 2022? Thanks