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Tax return

PrincessFiona
PrincessFiona Posts: 5,482
edited January 2012 in Not Sports Related
Got to do my first tax return and think I've got most of the basics done. However I've spent a bit on work on my flat before I let it and would like to get any tax relief I can.
I don't need the whole thing done and it would take too long to get docs back to the UK for anyone to do the full return. Anyone know anyone who could help? Happy to pay a fee

Comments

  • PrincessFiona
    PrincessFiona Posts: 5,482
    I'm sure someone will suggest it, but I can't afford 'arry's on Mandaric's advisors!
  • adamtheaddick
    adamtheaddick Posts: 8,664
    my best mates old man is a tax expert quite reasonable too.

    http://www.cylex-uk.co.uk/company/garvey-associates-13533522.html

  • bingaddick
    bingaddick Posts: 8,184
    If you call Linda Palin from Lovewell Blake accountants I am she will be able to help. Please send me a pm and I'll give you her details.
  • Addicted
    Addicted Posts: 2,804
    Almost certain you can deduct all expenses on improvements (fixed) from the total revenue before calculating your tax

    http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_10014027
  • Miserableoldgit
    Miserableoldgit Posts: 21,458
    adamtheaddick 2:02PM
    my best mates old man is a tax expert quite reasonable too.

    Thought I was your best mate.......

    (walking away sobbing........;-( )
  • Miserableoldgit
    Miserableoldgit Posts: 21,458
    "And I can't sail my yacht........
  • RodneyCharltonTrotta
    RodneyCharltonTrotta Posts: 14,834
    You can deduct any capital expenditure and repairs eg painting the gaff etc. Also you get a % wear and tear allowance if it's furnished and it's all deducted from your rental income so you will def get some relief.
  • C.Walsh'sLoveChild
    C.Walsh'sLoveChild Posts: 3,334
    Tax doesn't have to be taxing
  • PrincessFiona
    PrincessFiona Posts: 5,482
    edited January 2012
    Taxing is a flippin apt word!

    Thanks for the responses - the more I read, the more confusing it gets! So am going to pay someone to do the tax return and DHL the docs to the UK. The general consensus is they will save me more than the cost.

    Btw - yacht???
  • LenGlover
    LenGlover Posts: 31,671
    When you did the work on the flat was it available for letting even though you hadn't let it?

    You are entitled to offset expenditure incurred when a property is available for letting even if it is not actually let.

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  • Oggy Red
    Oggy Red Posts: 44,962
    edited January 2012
    The old Kinks song, Princess ......"Sunny Afternoon", bit of a classic:


    Dm C
    The taxman's taken all my dough
    F C
    And left me in my stately home
    A /G /F /E Dm
    Lazin' on a sunny afternoon
    C
    And I can't sail my yacht
    F C
    He's taken everything I've got
    A /G /F /E Dm
    All I've got's this sunny afternoon

    Chorus 1:

    D7 G7
    Save me, save me, save me from this squeeze
    C7 F A7
    I got a big fat mama tryin' to break me
    Dm G7
    And I love to live so pleasantly
    Dm G7 C7
    Live this life of luxury
    F A7 Dm /C /B /Bb
    Lazin' on a sunny afternoon
    A /G /F /E
    In the summertime

    Verse 2:

    My girlfriend's run off with my car
    And gone back to her ma and pa
    Tellin' tales of drunkenness and cruelty
    Now I'm sittin' here
    Sippin' at my ice-cooled beer
    All I've got's this sunny afternoon

    Chorus 2:

    Help me, help me, help me sail away
    Or give me two good reasons why I oughta stay
    'Cause I love to live so pleasantly
    Live this life of luxury
    Lazin' on a sunny afternoon
    In the summertime
  • C.Walsh'sLoveChild
    C.Walsh'sLoveChild Posts: 3,334
    Always wanted to know the chords to that one, Cheers

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