Good Afternoon I live in a property now which wont suit me probably in about 10 years time (should i live that long). So my cunning plan was to buy a bungalow now, let it out, then eventually sell my current property. Aside from all the headache, perils n pitfalls ... Continue Reading
Molson Coors have given a client retrospective refunds, but don't show any VAT element. The statement looks like this: Bank Account ending ****1940 will be debited on 25.10.2024 or within 3 working days, with Collection Advice document number F110001395. This is ... Continue Reading
Hi all Due to recent developments I am having to learn about IHT, and if its not too annoying get some assurance on basic points as building blocks. Scenario: Husband owns £1m house mortgage free, no other assets. House to be left 50% wife, 25% child A, 25% ... Continue Reading
After my late mother moved into a care home 7 years ago we asked an auctioneer to value the contents of her house prior to selling it. Each item was given a value range, eg £200-300. Half of the items were then sold at auction and the other half given away to ... Continue Reading
Hello all, I can't find the answer to this question on the HMRC website. Simply put, if I'm self-employed with a modest income in the 20% tax band, am I still entitled to the £7,500 annual allowance to rent out a room in my home? Or is that just for those who ... Continue Reading
I’m aware that if I were to gift say £50k to my son it would come into the IHT category, however if I were to purchase an item value £50k and then sold that item to my son for £1 would it avoid IHT consideration? Continue Reading
Hi. I am considering passing on to my son part of a property which I own and is rented out. There is no mortgage on the property. I believe no SDLT is payable on this transfer(?). Were my son to subsequently move house ie change his primary residence, in which ... Continue Reading
Hope you can help, here. I left my employer in August 2024, and am venturing into freelance work. For the remainder of this tax year, I'm stuck in the "pay 40% tax on all earnings bracket". So, if I were to win a contract of £50,000 this tax year, for example, ... Continue Reading
