Morning I am helping a couple with their rental income as they have are drafting up a declaration of trust whereby the income is assessed 99% the wife and 1% the husband. The title deeds are 50/50 husband and wife each. There is concern amongst the parents now that if anything happens in the future with the couple, does the ownership of the property remain at 50% each or does the wife own a greater share? I have seen in the past deeds of assignments carried out on rental property when the transfer has been declared on personal tax returns and the tax paid so getting confused with this situati ..read more

If you know exact dates try this. https://uk.finance.yahoo.com/quote/BARC.L/history?period1=858470400&period2=859161600&interval=1wk&filter=history&frequency=1wk&includeAdjustedClose=true Statistics:Posted by pawncob — Thu Mar 16, 2023 7:59 pm ..read more

Estimated CGT records for share purchases missing - losses to be claimed. Greeting all: Due to my stupidity I can find/have no records of shares I bought/inherited. I understand from HMRC website https://www.gov.uk/capital-gains-tax/records - I can submit estimated records. Any suggestions please for the following two cases re registering losses to be used against other gains?? In both cases there have been capital losses... 1. Barclays shares inherited on death of my father. Inherited a few, clearly know the date of death (1997-ish) but no paperwork .. My fault, no excuses (or rather didn't ..read more

https://www.blakemorgan.co.uk/wp-content/uploads/Downloads/Stamp-Duty-Land-Tax-First-Time-Buyers-Relief-29052019.pdf Statistics:Posted by AGoodman — Thu Mar 16, 2023 10:52 am ..read more

Blake Morgan (not my firm) cover it in a note here: Statistics:Posted by AGoodman — Thu Mar 16, 2023 10:51 am ..read more

The legal position is as maths sets out above. The only doubt is due to the fact that usufructs do not feature in English law so we have to apply trust law by analogy. HMRC have always been happy to do this in other areas and there is no reason to think they will not do so here. Any problems should only be due to conveyancers who don't understand and make no real attempt to understand. the response sylph83 got referencing bare trusts is just wrong. Statistics:Posted by AGoodman — Thu Mar 16, 2023 10:50 am ..read more

It may be different as the basis of calculating the gain for non-residents is based on appreciation above the market value at April 2015. Bear in mind that you may not yet have been non-resident for 5 years as, depending on circumstances, you may have been UK tax resident until 5 April 2018. It's also possible that you lost your UK tax residence in 2017 under the Split Year Treatment. Statistics:Posted by AGoodman — Wed Mar 15, 2023 6:37 pm ..read more

Hello Would it make any difference if I sold a UK buy to let that my wife and I own jointly. We have lived overseas since July 2017 and were wondering if the CGT would be the same, if we were classed as permanent overseas residents( more than 5 years overseas)? Regards James Statistics:Posted by James Edward — Wed Mar 15, 2023 2:41 pm ..read more

Yes indeed LTA scrapped. AA to 60k Wish I had that when I was working Statistics:Posted by russ101 — Wed Mar 15, 2023 1:44 pm ..read more

Additional investment in this context means any top up premium/investment made into the bond from outside. It won't include any income reinvestments generated by the bond. So, if you invested £10,000 30 years ago and topped up the same contract by £5,000 5 years later, assuming no withdrawals made, you would be able to draw down the full £15,000 without incurring a chargeable event. One issue to note. If there is an ongoing adviser charge levied on the bond (paid to a financial adviser), that charge is deducted from the annual 5% tax deferred allowances which would reduce the £15,000 figure ..read more