Stefano Sodaro
-
RE: CGT on family property gifted to me abroad
Hello, I am an Italian citizen resident in the UK with settled status. I am about to sell my Italian property, which I bought in June 2007 and I need to calculate the Capital Gains Tax. I have a specific question regarding the exchange rate to use in order to convert the 2007 purchase price from EUR to GBP. During the 2007/2008 fiscal year, the EUR-GBP exchange rate fluctuated significantly, and I am not sure which specific exchange rate to use. I have read previous replies where the guidance was "You can apply any of the spot rates for the exchange rates for the tax years in which the property was purchased and sold." Does that mean, for example, that I have the choice to use e.g. the spot rate from 31.12.2007 or 31.02.2007, or any other spot rate from the 2007/2008 fiscal year? Thank you. -
RE: Overseas property CGT
Hello, I am an Italian citizen resident in the UK with settled status. I am about to sell my Italian property, which I bought in June 2007, and I need to calculate the Capital Gains Tax. I have a specific question regarding the exchange rate to use in order to convert the 2007 purchase price from EUR to GBP. During the 2007/2008 fiscal year, the EUR-GBP exchange rate fluctuated significantly, and I am not sure which specific exchange rate to use. I have read previous replies where the guidance was "You can apply any of the spot rates for the exchange rates for the tax years in which the property was purchased and sold." Does that mean, for example, that I have the choise to use e.g. the spot rate from 31.12.2007 or 31.02.2007, or any other spot rate from the 2007/2008 fiscal year? Thank you. -
RE: VAT relief on house restoration
Hello, I sent an inquiry about a month ago and you confirmed that if we buy a kitchen from a company that will also install it, it is eligible for the 5% VAT reduction (in the meantime we have obtained a letter from the Empty Property Officer confirming that our new house had been empty for a few years before we purchased it). I have another specific question on this regard: do you confirm that the kitchen appliances are not covered by the 5% vat rule, but the extractor fan is? Thank you. Stefano -
RE: VAT relief on house restoration
Hello, We are renovating a property that has been unoccupied for the last 5 years. We are buying a new kitchen and new windows/doors from two VAT-registered businesses. Kitchen and windows will not be installed by our builders, but directly by the companies we buy them from. Are we eligible to pay the reduced 5% VAT rate on the purchase and installation of the new kitchen and windows? Thank you.