ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

TAX Tax Systems

112.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tax Systems LSE:TAX London Ordinary Share GB00BDHLGB97 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 112.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Tax Systems Share Discussion Threads

Showing 1176 to 1198 of 1775 messages
Chat Pages: Latest  59  58  57  56  55  54  53  52  51  50  49  48  Older
DateSubjectAuthorDiscuss
03/6/2013
16:07
Manor Farm would be your main residence if it was the only property you owned.
There might be a CGT tax bill if the amount of land involved was large - you would need to demonstrate the grounds you were claiming for were an integral part of the property with no hedges or streams that separate them from the residence.

If the gardens were less than half a hectare (1.23 acres) there would be no problem.

miata
03/6/2013
16:01
goatherd,
using Manor Farm was not the best option,i have changed it to avoid any misunderstanding. Thanks for the comment.

4711phil
03/6/2013
15:56
Phil,

I am a retired farmer so I can see a possible snag in your question which you may want to clarify for Miata.

A farm is normally a commercial operation. But I think you are actually talking about a farm HOUSE?

goatherd
03/6/2013
15:40
MIATA,
would appreciate your help regarding scenario set out below.

Have lived at 1 Acacia Av for 25 years.

Inherit Manor Lodge 01/06/13 Valued at £500,000.

Sell 1 Acacia Av 01/07/13 for £250,000 (no tax as main residence)

Move into Manor Lodge 01/07/13. Live there for 5 year's,then sell for £550,000.

Q1 Is Manor Lodge now classed as my main residence,so now no tax bill on sale.

Q2 Or is my tax bill 18% CGT (less allowance's) of the £50,000 profit made on Manor Lodge.

TIA....Phil.

PS Inheritance tax not an issue 2x £325,000 allowance.

4711phil
19/5/2013
07:37
mh555, there isn't an HMRC link, hold for over two years. The requirement is that they qualify for business property relief - your broker can advise which qualify. Though basically most do, providing they do the majority of their business in the UK and do NOT deal in securities, stocks and shares, land or buildings or make or hold investments.

Because of the risk of Aim shares in general, I would suggest you look at diversified holdings this is but one example:

Westi1, you could transfer it into a SIPP. Check your present fund does not include inflation-proofing to an extent that you could not hope to achieve.

miata
18/5/2013
22:15
Hi MIATA or anyone

Left my previous employer several years ago.
Had a pension for around 15 years with the company.
Around 38k in it when I left.

No new pension.

I would like to withdraw the amount now.
I am 39 years old, from the information I
have looked at I could withdraw it but would
likely see nothing due to fees and tax. (But I could be wrong)

Could I instead transfer this frozen pension into a SIPP?

westi1
18/5/2013
21:44
Miata
is there alink in hmrc web site setting out; Aim shares that are inheritance tax free , how they are to be held,and how long time-wise before they qualify. If not do you know?

mh555
17/5/2013
08:02
The lower rate of corporation tax (20% for 2011/12) applies to companies with profits not exceeding £300,000.

Corporation Tax rates
Rates for financial years starting on 1 April
Rate 2011 2012 2013 2014
Small profits rate* 20%* 20%* 20%*
Small profits rate can be claimed by qualifying companies with profits at a rate not exceeding £300,000 £300,000 £300,000
Marginal Relief Lower Limit £300,000 £300,000 £300,000
Marginal Relief Upper Limit £1,500,000 £1,500,000 £1,500,000
Standard fraction 3/200 1/100 3/400
Main rate of Corporation Tax* 26%* 24%* 23%* 21%*

miata
16/5/2013
23:09
Does the lower rate of corporation tax (20% for 2011/12) apply to companies involved mainly in property investment and rental?
snatander
14/5/2013
18:29
Tax defaulters list
miata
06/4/2013
16:52
The profit is the proceeds of the shares sold less the cost of the shares reacquired in the 30 days after the sale.

When you eventually sell the reacquired shares (more than 30 days in the future) they are treated as having the original purchase cost of the initial purchase.

miata
06/4/2013
15:57
miata

could you please explain the 30 day rule for a lay person

if i sell and buy back in five days, which profit do i show - the "covered short" profit?

snatander
06/4/2013
13:20
HMRC Online Capital gains computation worksheets
* indicates required information

Complete one worksheet for each asset disposed of (maximum of 20 worksheets). Any losses made must be noted for later use.

Your reference for this disposal:
Type of asset:*
Description of asset (e.g. type and number of shares sold or address of property):*
Date of disposal:* dd/mm/yyyy
Disposal proceeds or market value (if appropriate):*£
Incidental costs of disposal:£
Net disposal proceeds:£
Date of acquisition:* dd/mm/yyyy
Cost or market value (if appropriate):*£
Incidental costs of acquisition:£
Improvement costs:£
Total costs:£ Gain or loss:£
Deduction, if any, in respect of reliefs and elections:£
Description of elections made and of reliefs claimed or due. Where applicable, give the amount:
Chargeable gain or loss: £

miata
04/4/2013
08:25
They are gradually catching up with the dodgers!

Offshore special: possibly the largest cross border journalism collaboration in history.

This is a game-changer. The International Consortium of Investigative Journalists (ICIJ) has launched the latest part of its multi-year project, in collaboration with a range of media around the world, drawing from a trove of 2.5 million secret files to strip away the owners of large numbers of anonymous companies. As ICIJ puts it,

"The files identify the individuals behind the covert companies and private trusts based in the British Virgin Islands, the Cook Islands, Singapore and other offshore havens. They include American doctors and dentists and middle-class Greek villagers as well as Russia corporate executives, Eastern European and Indonesian billionaires, Wall Street fraudsters, international arms dealers and families and associates of long-time dictators.

The files illustrate how offshore financial secrecy has spread aggressively around the globe, allowing the wealthy to avoid taxes, fueling corruption and economic woes in rich and poor nations. The current banking crisis in Cyprus is one example of how the offshore system can impact an entire country's financial stability."

As a result of this aggressive growth and metastatising of the problem through the global system, we believe that there's some $20-30 trillion sitting out there offshore

cassiopeia
24/3/2013
08:46
Thanks Miata for posts 1026 & 1039

Unfortunately I got confused by a previous tax return where I had paid extra tax on a property sale as well as share sales and wasn't bright enough to look at the detail again.

thanks

larry laffer
23/3/2013
12:00
Cooking oil for cars:
miata
23/3/2013
09:10
It would be appropriate to refer to that method as a Balls-up.

Dividends and interest are income and are taxed separately from capital gains and losses.

See post 1026.

miata
23/3/2013
08:29
Just to make sure I understand the system and I don't make a balls of it

When returning my tax form for this year I should

a)

add together any losses incurred on share sales throughout the year


b) ( add together )

any gains on my share sales throughout the year
any dividend payments
any interest paid on bank accounts


I should then subtract a) from b) with the aim of finishing up with a gain of £10,600

Theres obviously lots of other stuff that could go in there but this enough for what I want to achieve.

Would it be appropriate to refer to this method as the "starbucks" calculation :-)

larry laffer
20/3/2013
18:24
The budget statement included confirmation that the single tier pension will be introduced in 2016, a year earlier than the delayed start announced last year, bringing an extra 400,000 people into the new regime.

The catch is that the number of qualifying years to get a full pension rises from 30 to 35 years.

miata
20/3/2013
16:42
MIATA 20 Mar'13 - 16:32 - 1031 of 1035 0 0 edit

While airlines can surcharge existing tickets, they usually don't.

-----

Package holidays often have a no supplements price guarantee.

miata
20/3/2013
16:39
MIATA I am thinking tax increase announced today, could it be levied for the 1st Apr and surcharged to flights already paid for.
optomistic
20/3/2013
16:35
1st May is usually after 1st April.
miata
20/3/2013
16:33
Or after the 1st Apr David?
optomistic
Chat Pages: Latest  59  58  57  56  55  54  53  52  51  50  49  48  Older

Your Recent History

Delayed Upgrade Clock