qkr1963
Joined: 8/1/2024
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CGT on multiple properties (none limited)
Ive a friend who has multiple buy to let properties, he's NOT registered as a limited company. If he sells a property and makes a profit, I guess the profit would be subject to CGT. However, if he sells another property and makes a loss, is it possible to offset the loss against the profit on the other property. Lets assume a profit of £40k on one property and a loss of £10k on the other, meaning he only pays CTG on £30k. ??? -
State Pension Qualifying NI Contributions
On the Government Gateway site my forecast shows that Ill be entitled to full state pension. However, its possible that between 1981 and 1993, I was contracted out of SERPS, the gov gateway site actually states "You’ve been in a contracted-out pension scheme ". Ive now stopped working (60 years old) and no longer making NI contributions. If I was truly contracted out between 81-93, then by my reckoning, I've probably only got 30 years qualifying contributions, but the gov gateway forecast states "Your forecast is £221.20 a week, £961.83 a month, £11,541.90 a year", which is the maximum. So now I'm a tad confused, can I truly rely on the information provided by the gov gateway, or do I need to consider making up the shortfall, and if so, will HMRC notify me of this. ?