What if capital improvement was done over 20 years ago and receipt for work has been misplaced or lost as who would expect to keep receipts for so long.
I have a property that is 27 years old. Did completion statements exist then? If not what evidence is good for a property that was bought that long ago?
@@UK-Property-Tax-Accountants looking online they are no longer trading. I have paperwork from them one titled "statement" which is just a type of written statement detailing the purchase price, deposit paid, legal fees and land registry fees and a required to-complete amount. Can I use this? It looks very unofficial. Edit I have just found out they were taken over in 2020 by talor rose so hopefully they can help. Fingers crossed. is there a law that says they should supply it if requested?
Hi Simon, I’m selling my property to our tenant BMV effectively gifting the deposit - can this gift be used as a tax deductible expense, against the years income ?
@@UK-Property-Tax-Accountants thankyou I thought I saw somewhere in one of the questions it says did you sell it below market value and CGT applies from the market value?
What if capital improvement was done over 20 years ago and receipt for work has been misplaced or lost as who would expect to keep receipts for so long.
Unfortunately HMRC May frequent the receipts. They will not allow the cost without them
This is probably a silly question, if i am deducting solicitor and estate agent costs for CGT do i use the amount with VAT or before VAT? Thanks
Include the VAT too. That is a good question to ask
@@UK-Property-Tax-Accountants thank you for your response and help
You are very welcome 🙏
I have a property that is 27 years old. Did completion statements exist then? If not what evidence is good for a property that was bought that long ago?
Completion statements did exist then. Please reach out to your solicitor in question to get it.
@@UK-Property-Tax-Accountants looking online they are no longer trading. I have paperwork from them one titled "statement" which is just a type of written statement detailing the purchase price, deposit paid, legal fees and land registry fees and a required to-complete amount. Can I use this? It looks very unofficial.
Edit I have just found out they were taken over in 2020 by talor rose so hopefully they can help. Fingers crossed.
is there a law that says they should supply it if requested?
@mrfoameruk you might also want to try the land registry to see what details they have when you purchased the property.
@mrfoameruk get whatever you can, that is official
@@UK-Property-Tax-AccountantsThanks. You've been really helpful.
Hi Simon, I’m selling my property to our tenant BMV effectively gifting the deposit - can this gift be used as a tax deductible expense, against the years income ?
You will be charged CGT based on what you receive. Therefore the gift element would have already been taken into account.
@@UK-Property-Tax-Accountants thankyou I thought I saw somewhere in one of the questions it says did you sell it below market value and CGT applies from the market value?
The MV apples to close relatives
I intend to use Angela Rayner's tax advisor to evade..opps I mean avoid CGT.
That should be fun 🤩