10% Wear and Tear Allowance - Calculating the net rent
Mon, 19 May 2008 11:16:40 +0100
Hi
I am the leaseholder of a UK furnished flat in a block of flats.
I let the flat on an AST to a tenant who pays the rent, the utilities, and
the rates.
I pay the service and management charges, the ground rent, insurance, and
maintenance.
The SA105 Notes explain that "The wear and tear allowance is equal ...
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Capital Gains Tax Program
Fri, 16 May 2008 15:34:05 +0100
Now, long retired, I sold the second of a pair of houses last tax year.
I know from the sale of the first the year before that the allowances will
mean that no tax is due. Usually, I do all my income tax returns with no
difficulty but this disposal put it beyond my knowledge
A lot of money was spent ten year ...
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Invoice issued in one year and settled in the next - corporation tax?
Fri, 16 May 2008 14:04:05 +0100
Hi all,
A couple of (probably naive) questions:
1) If an invoice is issued towards the end of a tax period isn't paid until
the next tax period, can it be accounted for (for corp tax purposes) in
either year?
Assuming the answer to 1 is 'yes':
2) In the 1st year (in which the invoice was issued), the c ...
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Can you carry forward losses?
Thu, 15 May 2008 19:51:52 +0100
Hi,
I have made a yearly loss on my room rentals, so no tax to be paid.
Can the loss be carried over to the next year? ...
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HMRC delays
Thu, 15 May 2008 05:23:17 -0700 (PDT)
I phoned HMRC Bootle and they said that they are dealing with post
received on 1 April 2008!
Cue April Fool jokes and Ferrit saying it's perfectly reasonable and I
don't understand the tax system. ...
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What does this mean?
Wed, 14 May 2008 20:49:48 -0700 (PDT)
http://research.stlouisfed.org/fred2/series/BOGNONBR
--
Rich ...
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How To Yell At Employees
Mon, 12 May 2008 10:14:51 -0700 (PDT)
Dallas, TX - Madmanager.com, officially launches its web based
management advice site, featuring expert management help on topics
such as ?How To Yell At Employees?? Solutions cost as little as $1.00
and feature results oriented answers to tough management questions.
Situations madmanager can help with are ?How ...
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Allowable expenses when letting rooms?
Sat, 10 May 2008 13:57:32 +0100
Hi,
I let two rooms out in my own home, and as I am not using the
rent-a-room tax allowance, I deduct 2/3rds of expenses against the
income.
I understand that repairs are an allowable expense, but need a more
precise definition
I'm wondering if the following are allowable:
- Replacement of lock and keys a ...
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Posting final VAT payment on Sage.
Fri, 9 May 2008 14:14:24 +0100
Hello
Just a quick question.
Have just finished trading and while I was was training, did all my own VAT
returns on Sage. Now that I have ceased trading, just tying up a few loose
ends, sent my sage records onto disc for the accountants to do my VAT for
me. They have sent Disc back saying that VAT has been ...
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Personal Incidental Expenses (PIE) query
Wed, 07 May 2008 10:00:26 GMT
Hi,
Reimbursement of PIE is not taxable if within the ¡ê5 / ¡ê10 limit.
However, if an employee has a company mobile and uses it to phone home (not
itself a taxable BIK) does this nevertheless count as [part of] a PIE
reimbursement?
TIA
--
Martin
...
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