Personal tax - your thoughts?

Options
12467

Comments

  • Jointy
    Jointy Registered Posts: 78 Regular contributor ⭐
    Options
    talinka wrote: »
    It was 20% on furniture, however she contributed 100 each months towards it, so I deducted that from 20%*cost. But I did ignore the household expenses.

    thought so
  • Cyfarthfa
    Cyfarthfa Registered Posts: 62 Regular contributor ⭐
    Options
    I did annual rate + expensive accom + furn - contributions. No bills as she paid them all.

    annual rate was figure given and expensive accom was the cost - £75k x 6.25%
  • Claire321
    Claire321 Registered Posts: 209 Dedicated contributor 🦉
    Options
    Sally wrote: »
    I cant remember now!!! i had to write the months down along the side of the page to count up months of occupancy so if i've got this wrong after that ....i'm rubbish!!

    I had to do that too - I got 8 months of rent in total
  • Jointy
    Jointy Registered Posts: 78 Regular contributor ⭐
    Options
    GGG wrote: »
    I did the same:
    8*800=6400
    less 2*800=1600
    1*800=800
    less comms (432)
    total:5168

    good stuff
  • lewpylew
    lewpylew Registered Posts: 216 Dedicated contributor 🦉
    Options
    Jointy wrote: »
    i think they did a bunk in oct and nov and it was empty dec jan & feb and then new tenants in march

    so i got 9 x 800 = 7200

    bad debt 2 x 800 = -1600

    commision 6% x 7200 = 432


    Same as me!
  • talinka
    talinka Registered Posts: 45 Regular contributor ⭐
    Options
    I got £400 as well Jointy! ;-))
  • chrislloyd
    chrislloyd Registered Posts: 24 New contributor 🐸
    Options
    jointy wrote: »
    i think they did a bunk in oct and nov and it was empty dec jan & feb and then new tenants in march

    so i got 9 x 800 = 7200

    bad debt 2 x 800 = -1600

    commision 6% x 7200 = 432

    i got this
  • Sally
    Sally Registered Posts: 69 Regular contributor ⭐
    Options
    How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers
  • carolyn
    carolyn Registered Posts: 28 Regular contributor ⭐
    Options
    Sally wrote: »
    How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

    I got this.
  • GGG
    GGG Registered Posts: 11 New contributor 🐸
    Options
    Sally wrote: »
    How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

    Same here
  • Jointy
    Jointy Registered Posts: 78 Regular contributor ⭐
    Options
    Sally wrote: »
    How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

    me too
  • Claire321
    Claire321 Registered Posts: 209 Dedicated contributor 🦉
    Options
    Sally wrote: »
    How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

    I think that the same answer I came to
  • Ed1
    Ed1 Registered Posts: 51 Regular contributor ⭐
    Options
    Sally wrote: »
    How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers
    I got this too.
  • GGG
    GGG Registered Posts: 11 New contributor 🐸
    Options
    Looks like most of us got similar answer. We all should get into festive spitit now. Happy Christmas everyone! I am off!
  • carolyn
    carolyn Registered Posts: 28 Regular contributor ⭐
    Options
    How did you treat the profit from business and expenses for the flat. I am a bit not sure.
  • Claire321
    Claire321 Registered Posts: 209 Dedicated contributor 🦉
    Options
    Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?
  • chrislloyd
    chrislloyd Registered Posts: 24 New contributor 🐸
    Options
    Ed1 wrote: »
    I got this too.

    I didnt :(

    think i messed up on land and this one.....will I have done enough to pass if everything else is right?
  • Lottielu3
    Lottielu3 Registered Posts: 1 New contributor 🐸
    Options
    I got the same for rent but only took commission from rent they received, ie. £336.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
    Options
    Claire321 wrote: »
    Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?

    it was just the pool add the bonas issue at zero re calaulate the cost per share, i think cost was 28k cost or something like that anyone else?
  • GGG
    GGG Registered Posts: 11 New contributor 🐸
    Options
    Claire321 wrote: »
    Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?

    Mine was 25429
  • Sally
    Sally Registered Posts: 69 Regular contributor ⭐
    Options
    Claire321 wrote: »
    Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?

    Think it was a straightforward disposal from the pool but i seem to remember the numbers i had were not round figures....ended in 1 i think.
  • chrislloyd
    chrislloyd Registered Posts: 24 New contributor 🐸
    Options
    GGG wrote: »
    Mine was 25429

    me too :)
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
    Options
    forgot what gain i put its starting to all muddle in to one for shares
  • jnrmo
    jnrmo Registered Posts: 14 New contributor 🐸
    Options
    for the antique table didnt you have to do the following equation

    5/3 x (6000-15300)

    which you should get £15500 loss???
  • talinka
    talinka Registered Posts: 45 Regular contributor ⭐
    Options
    jnrmo wrote: »
    for the antique table didnt you have to do the following equation

    5/3 x (6000-15300)

    which you should get £15500 loss???

    Deemed proceeds are £6,000
  • Sally
    Sally Registered Posts: 69 Regular contributor ⭐
    Options
    Thats marginal relief ... we had to apply the deemed proceeds of £6000rule to minimise the loss
  • Jointy
    Jointy Registered Posts: 78 Regular contributor ⭐
    Options
    jnrmo wrote: »
    for the antique table didnt you have to do the following equation

    5/3 x (6000-15300)

    which you should get £15500 loss???

    thats if proceeds are more than 6 but cost is less than 6
  • carolyn
    carolyn Registered Posts: 28 Regular contributor ⭐
    Options
    Does anyone know if I got the wrong benefit figure in task1.1, then the rest of the tasks will be wrong. how do they mark this? will they give me zero?
  • jnrmo
    jnrmo Registered Posts: 14 New contributor 🐸
    Options
    the shares should have been i think he
    bought 10000 shares @ £5
    he got bonus shares of 1 for every 20 shares
    he sold i think was 6000 shares

    so the 10000 shares cost £50000
    bonus shares of 500 cost £0

    10500 shares costing £50k

    50000 / 10500 * 6000 = £28571 which is the cost price

    he got some thing like £54000 for the 6000 shares

    proceeds - £54000
    cost - £28571
    Gain - £25429
  • Jointy
    Jointy Registered Posts: 78 Regular contributor ⭐
    Options
    carolyn wrote: »
    Does anyone know if I got the wrong benefit figure in task1.1, then the rest of the tasks will be wrong. how do they mark this? will they give me zero?

    if you carried on with your figures you will only get penalised once for task 1.1

Categories

Privacy Policy