Author Posts

Marie walshe
Save Tax by Straddling the Year End the Right Way
By Marie walshe In Property Posted May 15, 2018 0 Comments
My client is a property developer company with a 31 March year end. The client is having issues with the builder and needs the contracts to be exchanged before the new tax year. The date of the exchange of contracts (i.e. the contract date of an unconditional sale) determined which year the sale was recognized […]
Don’t forget to Save Tax by Mixing Business and Pleasure
By Marie walshe In Property Posted May 15, 2018 0 Comments
My client has a property business which includes a mix of residential and commercial properties. The Pleasure (Property P) is a residential property, it has a small rental loss brought forward, and has made a profit (bigger than the loss b/f) this year. The Business (Property B) is a commercial let, it also has a rental loss brought forward, […]
Does Your Property Blueprint Consider Saving Tax?
By Marie walshe In Property Posted May 15, 2018 0 Comments
What is your goal: The company will purchase run down properties, renovate them and then sell them on. Property transactions are a minefield what with DI, CG, VAT, IHT, Stamp Duty and solicitor’s fees all coming into it. Have you considered if you are looking at residential or commercial or a mixture? VAT is not […]
HMRC are out for Blood!
By Marie walshe In Uncategorized Posted May 7, 2018 0 Comments
My client who has been questioned by HMRC for almost 2 years now. The initial return under enquiry was prepared by another firm. Two years of questions by HMRC. The enquiry is in relation to capital gains tax on property disposals. £550,000 of capital expenditure was claimed on one property. Documentary evidence is available so […]
Save Tax – Don’t Incorporate
By Marie walshe In Uncategorized Posted April 30, 2018 0 Comments
Its the new black, everyone wants to do it. Incorporating a Rental Property Business. In this case there is no mortgage on the property, so there are no issues with interest rate relief. But incorporating is easier than dis-incorporating. This is where the property reverts back to the hands of a sole trader. Rates could […]
  • Ooooh losses  – Whatever will we do?
Ooooh losses – Whatever will we do?
By Marie walshe In Uncategorized Posted April 10, 2018 0 Comments
He has a loss of £10k to carry forward from his properties. He moved back into his solely owned flat for an entire tax year, renovated his main residence, then let it again. He then let a separate property with his wife (and made a small loss for 16/17). Could these losses be carried forward […]
Writing down cost of building
By Marie walshe In Property Posted March 16, 2018 0 Comments
I have a limited company client who owns a couple of rental properties (one commercial, one residential). There’s no re-valuation reserve. They’ve just had valuations done which show the market value at 10% below the carrying Net Book Value.  What should I do? Sounds like time to blow the dust of that copy of SSAP […]
The Adamant Client
By Marie walshe In Property Posted January 21, 2018 0 Comments
My client was going to sell some land he personally owns overseas. The deal didn’t go through but they received £15,000 in compensation for the deal not going through and messing them around. The client is adamant that the £15,000 isn’t taxable because they paid £80,000 for the land originally and as they haven’t sold the […]
Should I fill in box 17 or box 20?
By Marie walshe In Uncategorized Posted January 17, 2018 0 Comments
Did you have to fill in a claim for Entrepreneurs Relief on gains on unlisted shares and did the software come up with HMRC validation errors? The software provider says you need to put the gains in the other property, assets & gains section of Tax Return to get a result in box 17 and box […]
Quick Sale or Slow & Steady
By Marie walshe In Uncategorized Posted November 28, 2017 0 Comments
Client has properties in both his own name and ltd company. Properties purchased over many years starting early 1990’s. He now wants out. He is complaining about recent tax changes Is there any economic merit re selling company shares would be my first question. Hate to say that from observation it is usually not worthwhile re […]