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Thanks Yogi

The client is a husband and wife who let a few properties. Relatively straightforward though likely to be a lot of bills to go through as he does all the work on the properties himself (other than the work such as electrical work and gas safety checks which have to be done by a regulated engineer). What I don't know at present is if they've sold or bought another property in the tax year which would then involve extra work.

 

I hope your errands go well

El Loro

The client is in the process of selling one of their properties. I needed to check something - there's a huge change affecting anyone who lets a property and sells it. The change isn't scheduled to come in until 6 April 2020. From then. the seller will have to file a separate capital gains tax return with HMRC within 30 days from date of sale. I think they will be able to send in amended returns until the date that self assessment tax returns can be amended so quite a long period of time. That's because anyone with a capital gain can't know what their other income is until the end of the tax year and the rate of capital gains tax does depend on their overall income. So such capital gains returns will often have to be sent in on a provisional basis to be followed by an amended one once the overall income is known.

 

Whether people will realise they have to do such a return within 30 days is a different matter as their solicitor may not mention it (the last I heard the Law Society weren't willing to get involved as solicitors generally don't do people's tax returns).

El Loro
El Loro posted:

The client is in the process of selling one of their properties. I needed to check something - there's a huge change affecting anyone who lets a property and sells it. The change isn't scheduled to come in until 6 April 2020. From then. the seller will have to file a separate capital gains tax return with HMRC within 30 days from date of sale. I think they will be able to send in amended returns until the date that self assessment tax returns can be amended so quite a long period of time. That's because anyone with a capital gain can't know what their other income is until the end of the tax year and the rate of capital gains tax does depend on their overall income. So such capital gains returns will often have to be sent in on a provisional basis to be followed by an amended one once the overall income is known.

 

Whether people will realise they have to do such a return within 30 days is a different matter as their solicitor may not mention it (the last I heard the Law Society weren't willing to get involved as solicitors generally don't do people's tax returns).

 That is a mouthful 

Good job you know what you are doing 

Moonie
Yogi19 posted:

Good morning everyone 

Rain and light winds are forecast.

Heading out to look for a new rain jacket - looks like I’m going to need one.

Have a good day, all.

 

Moonie posted:
Rocking Ros Rose posted:

Night yogi and moobssummer of you pop in

Love the typos Rosss  

 Happy hunting 

That word could have been worse  

Moonie
Last edited by Moonie
El Loro posted:

Moonie, it's already starting to rain here though light at present. No weather warnings for my area yet though looking at tomorrow morning's rain maps I think the warning will be changed. The Met Office 95% is actually β‰₯95% meaning at least 95% - they don't do 100%.

 

Yogi, we could all do with a rain jacket

 

 

El, the rain is here now and the wind is picking up too 

Moonie

Good evening gang just popping in to say all is well and I’m not MIA! My network connection from work has been problematic, which could be a local issue or an error since the last iPhone update.. (or the incoming mercury retrograde :ninja, and I’ve been super busy outside of work. Wednesday I whizzed over to Keswick to visit my bestie (who is looking well!) because she’s on holiday there this week with her family. My goddaughter is so much fun, and about to turn 8! 
I’ve also become a great aunt, my niece had a healthy baby girl

 

how are we all? Have I missed much?

~Sparkling Summer~
~Sparkling Summer~ posted:

Good evening gang just popping in to say all is well and I’m not MIA! My network connection from work has been problematic, which could be a local issue or an error since the last iPhone update.. (or the incoming mercury retrograde :ninja, and I’ve been super busy outside of work. Wednesday I whizzed over to Keswick to visit my bestie (who is looking well!) because she’s on holiday there this week with her family. My goddaughter is so much fun, and about to turn 8! 
I’ve also become a great aunt, my niece had a healthy baby girl

 

how are we all? Have I missed much?

 great aunty Sweet. That has a ring about it 

All is well with me fankoo 

Moonie
~Sparkling Summer~ posted:

Good evening gang just popping in to say all is well and I’m not MIA! My network connection from work has been problematic, which could be a local issue or an error since the last iPhone update.. (or the incoming mercury retrograde :ninja, and I’ve been super busy outside of work. Wednesday I whizzed over to Keswick to visit my bestie (who is looking well!) because she’s on holiday there this week with her family. My goddaughter is so much fun, and about to turn 8! 
I’ve also become a great aunt, my niece had a healthy baby girl

 

how are we all? Have I missed much?

Ive missed you! 
I’m pleased you’ve been enjoying time with your friends.

Many congratulations to the whole family on the birth of your great niece. πŸΎπŸ‘πŸ»Welcome to the world, little baby.

Yogi19

Good morning everyone

 

Raining here, could get an inch over the next few hours. Next few days forecast to be dry, but then it looks as if it will go back to being unsettled for weeks.

 

Congratulations Great Aunty Summer and I hope your connections problems are sorted

 

A very happy birthday to Ros

 

I hope everyone has a good day

El Loro

Back from going to the bank and doing my routine shopping. Wore a raincoat and a cap (had it for years and was told at the time it made me look like an American gangster - got it before Peaky Blinders started, not something I watch, but the cap is similar to ones seen in that). Put a plastic carrier bag over the food in the carrier bags to keep food dry.

 

That worked

 

15 mm of rain so far since the rain started yesterday and expected to rain for some hours yet.

 

Moonie, I wouldn't have gone out unless I had to . Not intending to go out again today.

 

Tomorrow is forecast to be dry and colder. Expect a noisy evening due to fireworks being Diwali tomorrow - locally they are permitted up to 1 am.

El Loro

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