pkapdi

Registered with Property118.com
Sunday 5th May 2019


Latest Comments

Total Number of Property118 Comments: 2

pkapdi

10:52 AM, 12th May 2019
About 2 years ago

Sole Ownership higher tax band in Scotland?

Reply to the comment left by Mark Alexander at 07/05/2019 - 16:11
Hi Mark,
Thanks for your reply. As I will be paying tax for more than 180 days in Scotland I will be liable to tax as per Scotland. So I assume the tax slab will change at £43430.
https://www.gov.uk/guidance/work-out-if-youll-pay-the-scottish-rate-of-income-tax
Appreciate your help.
Thanks,
Pratik... Read More

pkapdi

10:18 AM, 12th May 2019
About 2 years ago

Sole Ownership higher tax band in Scotland?

Reply to the comment left by Simon Lever at 11/05/2019 - 09:50
Hi Simon,
Thanks for your reply.
I have 20% help to buy government ownership. They have given me consent to let. Do I need to inform them as well?

Can I split the rent 50:50 or 99:1 even when the house is in sole ownership? As you have said its based on underlying ownership, i am 100% legal owner of the property.

Mark has specified in his last para in the above link that only declaration of trust is needed and can split the beneficial ownership. Do we have any reference on HMRC website or somewhere which I can refer it to my accountant. He is saying as the property is only in your name, wife cannot benefit unless it was a joint ownership.
Appreciate for your advice.... Read More