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  • RE: Selling old kitchen from my home to my buy to let property


    Hi,
     
    The updating of the kitchen would be an improvement so this would be a capital items and no expense would be allowed.

    PIM2030 - Property Income Manual - HMRC internal manual - GOV.UK ( www.gov.uk   ).

    Only the owner of the tablet can claim capital allowances/expense.

    These can only be claimed for the t/p business and nobody elses.

    If other people use it this will reduce the business proportion t/p will be able to claim.

    Thank you.
  • RE: 2 forms or just 1 for Self employment and personal assets


    Hi,
     
    If these are classed as two separate trades then you will need to declare these on two separate self employment sections.

    If the cryptocurrency is not a trade then any sale on these would be declared under the capital gains regime.

    They would all just go under the one main self assessment form though. 

    Thank you.
  • RE: Property income allowance


    Hi,
     
    Yes you can still use this against your rental for the period April to October, however you cannot use this allowance
    to create a loss if your income is less than £1000. 

    Thank you.

     
  • RE: CGT reporting problem


    Hi,
     
    You need to log in or create a capital gains account through the link here as it will not show if you go dierctly into your government gateway account.

    See link:

    Capital Gains Tax .

    Thank you.
  • RE: Joint property


    Hi,
     
    Thank you for your question.

    You are responsible for reporting your half share of the income and expenses relating to the jointly held property.

    You cannot therefore make a seperate return showing all the income and expenses.

    You should report your share of the income and expenses on your return.

    Thank you.

     
  • RE: Joint tenancy


    Hi,
     
    Thank you for your question.

    You can complete the Form 17 provided there is evidence that the property is held in unequal shares.

    You should therefore send a copy of the deed of assignment with the form 17.

    Thank you.
  • RE: FHL and Residential property Finance Apportionment


    Hi,
     
    Thank you for your question.

    Here is guidance from our Property Income manual about apportioning finance costs:

    Property Income Manual   .

    It is difficult to answer your question in any more detail without more information.

    If you want to discuss this further you should phone us on 0300 200 3310.

    We are open Monday to Friday 8am to 6pm.

    There are no set rules about how you apportion the other expenses but this must be done on a fair and reasonable basis.

    You would also have to justify how the amounts claimed had been calculated if we enquired into a tax return.

    If council tax is charged on each property you would claim the amount charged on each property.

    Thank you.
  • RE: BNO


    Hi,
     
    As this forum is for tax purposes only, I can only suggest you either speak to your employer regarding pension schemes
    or speak to out own pension scheme services for advice :

    Pension schemes   .

    Alternatively you can ask our employers helpline  :

    Employers: general enquiries    

     who would also deal with the DPNI scheme  .

    Thank you. 

     
  • RE: AIA on leased electric car


    Hi,
     
    It will depend on whether you own the car at time of lease or if there is a balloon payment at the end.

    Further guidance on this can be found here :

    Capital Allowances Manual     and :

    Capital Allowances Manual   .

    Thank you.
  • RE: Annual Tax Summary for 2020-2021


    Hi,
     
    The Annual Tax Summary will only show PAYE details, if you complete a Self Assessment then a Self Assessment and
    Tax Year Overview will give all the details needed for the mortgage application.

    These are also available after submitting your return.

    Thank you.