HMRC Admin 32 Response
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RE: First time lease and agents' commissions
Hi,
You can claim the letting agents fees against the rental. The estate agent fees for buying or selling the property would then be against the gain if you sell the property. You can claim:- Management fees paid to an agent for rent collection, advertising and administration.
- Legal and professional fees for renewing a lease (if the lease is for less than 50 years).
- Professional fees paid to evict an unsatisfactory tenant in order to re-let the property.
- The costs of appealing against a compulsory purchase order.
- Any costs for the first letting or subletting of a property for more than a year.
- The costs for agreeing and paying a premium on renewal of a lease.
- Any fee paid for planning permission or registration of title on property purchase.
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RE: Section 20 Works offset against CGT?
Hi,
If a property is acquired in a dilapidated condition, expenditure incurred in repairing it and putting it into a fit state for letting (including expenditure on decorations) may be inadmissible as a deduction for Profits of a Property Business, see PIM2020.
For Capital Gains purposes, however, such expenditure as cannot be deducted in computing income may be regarded as allowable expenditure under TCGA92/S38 (1)(b).
This is confirmed at:
CG15200 - Expenditure: enhancement expenditure: demolition costs
Thank you. -
RE: Claim higher rate tax relief after Salary Exchange effective
Hi,
This is salary sacrifice and you cannot claim relief on these payments as they are deemed employer contributions and not yours.
Thank you. -
RE: Interactive broker HK or Interactive broker UK
Hi,
You would need to check this with a financial adviser as the matter of which trading platform to use is not for HMRC to determine.
Thank you. -
RE: Second automatic UK test - Oversea home period
Hi,
If you have had a home oversears in the tax year, you can only stay in that home for a maximum of 30 days in the period that you are claiming for. Should you still not understand this, you may wish to seek the help of a professional who deal with residence.
Thank you. -
RE: Do I need to pay CGT in UK again for selling my AUSTRALIAN property
Hi,
As UK resident you will need to report the sale in the UK. You can claim foreign tax credit relief for the Australian tax up to the maximum of UK tax that is due on that source. Further guidance is at:
Tax when you sell property
HMRC cannot offer any recommendations for an accountant.
Thank you. -
RE: One-off pension contribution paid from bank in Self Assessment
Hi,
You will still get full relief under net pay as this is taken from your pay before any tax is calcualted. As a higher rate taxpayer, this then reduces your amount of taxable income at the higher rate so means less tax is paid by you. You have still received the full relief.
Thank you. -
RE: Foreign tax credit relief
Hi,
You would need to check the double taxation agreement for the country from which the income is from as different rates apply to different source of income. If your income relates solely to paid employment then you are due full relief for the foreign tax paid (up to the maximum of UK tax due). You need to enter the amount you want to claim as this figure doesnt automatically carry forward.
Thank you. -
RE: Moved back from NZ
Hi,
You do not need to declare the sale as this was prior to your arrival in the UK. Your relocation expenses cannot be set against your income. per Article 16 of the double taxation treaty, your backdated holiday pay is only liable in New Zealand.
Thank you.