I know, it's not ideal.
They wanted to sell to a long term renter who couldn't afford it.
The only saving grace is that it was a small flat and sale proceeds were only £62k.
I have asked the solicitor if they told the client that a report was due and they have dismissed it saying tax isn't their responsibility.
I honestly think that the client didn't know the tax point of sale as the mortgage payments carried on instead of rent. I only knew something was wrong as I looked on Zoopla at the property price and sale.
I am struggling to find a purchase price as the client was given the property by her ex husband in her divorce settlement.
This is a client I would like to walk away from but I feel I should try to help her.
Thank you
We'll see. I have applied for a scheme today and said first pay date was 27 Sept 2021.
The clients didn't seem to know that they needed a scheme and money was paid out of the bank monthly and called salary. We'll see if the submissions are accepted and if penalties get issued.
Thank you. That's what I'll do. I've never submitted late and certainly for a period before a scheme was registered so I was unsure of what was possible.
The clients are South African and moved here and immediately started trading and they didn't get issued with NI numbers for two months after salaries started so hopefully that's a reasonable excuse.
Then he'd have an overdrawn DLA going back years.
Mileage has been claimed at 45p per mile, reducing to 25p after 10,000.
Vat has been claimed on the fuel proportion of this so that shouldn't change.
The claimed expenses have been paid to the director each month and the company accounts show a deduction for the mileage claimed less VAT.
If it is a company car, the company can pay all of the car expenses. It is only the 45p per mile to the director that you need to deal with in the directors hands.
If this is the case then surely no more facts are needed?
My answers
Yes, only £62k proceeds.
I know, it's not ideal.
They wanted to sell to a long term renter who couldn't afford it.
The only saving grace is that it was a small flat and sale proceeds were only £62k.
I have asked the solicitor if they told the client that a report was due and they have dismissed it saying tax isn't their responsibility.
I honestly think that the client didn't know the tax point of sale as the mortgage payments carried on instead of rent. I only knew something was wrong as I looked on Zoopla at the property price and sale.
I am struggling to find a purchase price as the client was given the property by her ex husband in her divorce settlement.
This is a client I would like to walk away from but I feel I should try to help her.
Thank you
We'll see. I have applied for a scheme today and said first pay date was 27 Sept 2021.
The clients didn't seem to know that they needed a scheme and money was paid out of the bank monthly and called salary. We'll see if the submissions are accepted and if penalties get issued.
Thank you very much.
Thank you. That's what I'll do. I've never submitted late and certainly for a period before a scheme was registered so I was unsure of what was possible.
The clients are South African and moved here and immediately started trading and they didn't get issued with NI numbers for two months after salaries started so hopefully that's a reasonable excuse.
I use Easy MTD VAT and it's super easy and cheap.
Thanks for your answers. I have read back through other posts. This seems another unjust situation. Now to make an awkward phone call.....
Then he'd have an overdrawn DLA going back years.
Mileage has been claimed at 45p per mile, reducing to 25p after 10,000.
Vat has been claimed on the fuel proportion of this so that shouldn't change.
The claimed expenses have been paid to the director each month and the company accounts show a deduction for the mileage claimed less VAT.
If this is the case then surely no more facts are needed?