I have not seen the transcript of this case, so I did not realise that the Kings were not married at the time. However, the issue seems to be the surrendering of the entitlement to the income by the...

Have a look at the case Kings v King for assessment of jointly held property where all rental income was paid to wife. Discussion about it...

Found a discussion mentioning this case. http://www.accountingweb.co.uk/anyanswers/joint-rental-income-0#comment-2714

HMRC are correct and no formal doumentation is actually required. HMRC brought a case to the then tribunal system (Kings v King) about what the Kings regarded as joint rental income. The Kings...

There are two ways to work out your profit from the rent a room scheme if your total receipts are above the exemption limit (currently £4,250)
You can choose between either of them.
1. You work...

I have seen this a couple of times on this board and it is inaccurate to say that if you use a letting agent to manage your properties, travel between home and property are not allowable.
First of...

The new boilers would be a revenue expense and deductible from profits for the year, whilst the improvement would be a capital expense and deductible from sales proceeds when you sell.

You are right Dottie. There is inequality in the DRR.
The legislation requires a man to be incapacitated in order for the occupation to qualify for the relief.
For women, it only requires them to...

Yes, you are right. If the taxpayer already has salary/other income of £20k he will pay no more on the dividend of £5k.
And, yes, the company has already paid tax on 20% of its profits. So to get...

If you gift the flat to your son you will pay capital gains tax on the difference between the market value at the date of gift and acquisition price.
You will get PPR for the period you lived there...

Yes it is possible to do as you suggested, but it may not always be beneficial.
A company pays tax at 20% (on profits below £300,000) on indexed capital gains.
An individual’s capital gains tax may...

As another poster has said, the reason you get multiple and differing answers, is that there are multiple and different scenarios to consider.
Although you are just thinking of CGT and IT, there...

Look at both the Law Shipping case and the Odeon Cinema case.
If you say that the premises were being made "fit for occupation" then I would guess that the Law Shipping case was most likely to apply...

You can remortgage up to the value when first let, and the whole of the mortgage interest is deductible.
For example.
You buy a property for £120,000 with a mortgage of £90,000.
You remortgage a...

From what you say, I do not think there is a trust document because you would have had to inform HMRC and there would have been tax returns to complete. In any evernt,if there was a trust it would...

There are two types of ownership that you must consider in this case.
1. Legal ownership (ie who is on the deeds)
2. Beneficial ownership (ie who is entitled to the proceeds if sold)
It is...

What the OP may be referring to when he suggested self employment may actually be incorporation.
Generally, if a property business is showing a loss it will be because of interest.
Because of the...

You cannot "choose" which way your expenditure is treated. It is a question of fact.
If your property had landscaping in the first place and you are simply renewing old lawn, hard landscaping etc...

Property development, both residential and commercial development can qualify for ER provided the whole of the business is sold, rather than just individual properties.
Have a look at this...

I am sorry Peter but I disagree. It does not matter on which property the funds are secured.
A very similar question was asked on Accounting Web. ...

You can claim interest relief on the amount of interest attributatble to the value of the property when first rented out.
So if your total mortgage is £480k and the value of your property which is...

I am assuming that the allowance which you are seeking is for your use of your home as an office for your rental properties rather than working from home in your position as an employee.
If that...

In general, if the premiums paid attract tax relief (ie are tax deductible) then any payout is taxable.
So, for example, if you paid premiums for income protection, these are not tax deductible...

If you each give him your 25% of the property, you have each made a disposal for CGT, and there is a potential charge.
In answer to your second question, yes, he will pay tax on the whole of the...

The whole of the interest is taxable. There is no provision in the legislation for expenses to be deductible from interest received.