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Tax Questions and Answers


Tax Question – Residential Property Interest

What is the definition of a residential property interest for the higher capital gains tax rate?




Tax Question – Property Investment Company

Can a claim for hold-over relief be made?




Tax Question – Self-Assessment Tax Return

Will I have to declare a dividend on the return?




Tax Question – Tax relief for childcare vouchers

Has the tax relief for childcare vouchers ceased?



Tax Question – Unexplained Wealth Orders

What are Unexplained Wealth Orders and can HMRC use them?



Tax Question: Can my client zero-rate his work?

My client is a building contractor working on the renovation of an existing 2 storey commercial building. The developer also wants my client to build a new 3rd storey which is to contain separate residential apartments. I know the work to renovate the commercial storeys is standard rated but can my client zero-rate his work in regard to the new upper residential floor?



Tax Question: Can my client split profits and expenses within their Self Assessment Tax Return?

My clients are husband and wife and they jointly own a rental property that qualifies as a Furnished Holiday Let (FHL). I have always split the rental income 50/50 on their Self Assessment Tax Returns despite that fact that the husband is retired and actually spends a greater part of time managing the property. Someone has told me that I can split the profits and expenses on this basis, is that true?



Tax Question: Is there any tax-exempt limit for S455 CTA2010 tax charge?

Is there any tax- exempt limit for S455 CTA2010 tax charge on the director or employee loans made by a close company?



Tax Question: Private Residents Relief – What rate is this charged?

My client has sold a residential property, it was originally his main residence and then it was let out for a period of time. I have worked out that the private residence relief (including last 18 months) and lettings relief do not fully cover the period of ownership so there is a chargeable gain.

What rate is this charged at as I have read contradictory information, some stating that it will be charged at the rates of 18% and 28% and other that implies the lower rates of 10% and 20% respectively will be charged as it qualified in part for private residents relief?



Tax Question: Will I be liable to pay capital gains tax in the UK?

My client’s tax question is – I am tax resident abroad and considering the sale of a property in the UK that was previously my main residence.  Will I be liable to pay capital gains tax in the UK?



Tax Question – Property Expenses

My client is letting a residential property to their niece at below market value rent how are the expenses treated.



Tax Question – Benefits in kind for disabled employees

Our client, a director, is disabled. If the company buys him a wheelchair will there be a benefit in kind?



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