Hi, I am still, frustratingly, awaiting more details of the specifics of the scheme from Canada, which I think will have a bearing on the technical analysis. thanks
Agree with Lucy N, I use TaxFiler and it works for the majority of my clients but certainly not all. I only get employment / private pension information though, not state pension information, which is almost always available on my HMRC portal.
Thanks for this, irritatingly the 'old' form that I was trying to use is the one that comes up on TaxFiler when completing an Estate tax return. I will let them know!
Just to add that HMRC told me specifically that the return and payment was required within 60 days of completion even where the gain had been reported on the 2021/22 tax return (i.e. exchange in March 2022, completion April 2022).... Makes me concerned about admin around penalties etc
The £750 is for a licence required to be legally allowed to rent the property out, and lasts for 5 years. After 5 years another licence will be required. So the same as the Bath example. I can definitely see the capital argument (hence my question), as the payment is to allow the rental business to commence. On the other hand, you need a EICR certificate, gas safety certificate etc to let a property and I haven't typically thought of those as capital expenses on the first let.
My answers
Hi, I am still, frustratingly, awaiting more details of the specifics of the scheme from Canada, which I think will have a bearing on the technical analysis. thanks
I have PII with QBE (broker is Marsh Commercial) and they offer a tax advice line with Markel Tax.
Agree with Lucy N, I use TaxFiler and it works for the majority of my clients but certainly not all. I only get employment / private pension information though, not state pension information, which is almost always available on my HMRC portal.
Thanks for this, irritatingly the 'old' form that I was trying to use is the one that comes up on TaxFiler when completing an Estate tax return. I will let them know!
Hello Kevin and Stuart - did you ever make any progress on this? best wishes, Helen
Just to add that HMRC told me specifically that the return and payment was required within 60 days of completion even where the gain had been reported on the 2021/22 tax return (i.e. exchange in March 2022, completion April 2022).... Makes me concerned about admin around penalties etc
The £750 is for a licence required to be legally allowed to rent the property out, and lasts for 5 years. After 5 years another licence will be required. So the same as the Bath example. I can definitely see the capital argument (hence my question), as the payment is to allow the rental business to commence. On the other hand, you need a EICR certificate, gas safety certificate etc to let a property and I haven't typically thought of those as capital expenses on the first let.
Thanks for the update! Can I also ask you how good your the feed is of HMRC data via TaxFiler?
I'd be interested to know if other tax software has the dividend feed for 2020/21? Taxfiler say it is still being coded for the release. thanks
Cathyne, do you still need help with this?! I didn't treat it as taxable and added an explanatory note in the 16/17 tax return.