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UK Floor Cleaning Forum => Carpet Cleaning Forum => Topic started by: Chris R on November 26, 2004, 06:40:20 pm

Title: £70,000 Tax Bill (yes !seventy thousand)
Post by: Chris R on November 26, 2004, 06:40:20 pm

?

Title: Re: £70,000 Tax Bill (yes !seventy thousand)
Post by: des on November 26, 2004, 06:59:16 pm

CHRIS HAS HE GOT A ACCOUNTANT IF YES HE MUST HAVE TOLD HIM THAT HE CAN PUT ANY COST OF WORK THAT HE HAS CARRIED OUT OVER THE YEARS PLUS DID HE LIVE THERE FOR ANY TIME THAT HELPS AND ARE YOU SURE THAT HE IS 40% AND NOT 22%  AT THE END OF THE DAY GO AND SEE A GOOD ACCOUNTANT  I HOPE THIS HELPS YOUR FRIEND DES

Title: Re: £70,000 Tax Bill (yes !seventy thousand)
Post by: tony harrison on November 26, 2004, 08:51:32 pm

Chris,

I have just sold a villa in spain and had a new one built.

This is why I have looked into the capital gains involved in the profit made from the selling of our villa.

It is true that any monies spent during the running of your friends buisness i.e. maintenance of machinery and building upkeep etc can be deducted from the gross profit etc.

Any profit up to £1920 is taxed @ 10%

Any profit up to £29000 is taxed @ 20%

Any profit over £29000 is then taxed @ 40%.

This may be of some help to you it certainly helped me.

Go to the following web site.  www.qck.com/capital-gains

Click onto tax advice, then work your way down until you reach capital gains then click onto that.

Hope this helps

Regards Tony Harrison

Title: Re: £70,000 Tax Bill (yes !seventy thousand)
Post by: Jim_Lynch on November 27, 2004, 01:16:04 pm

Hey Des, have you ever considered punctuation and paragraphs? :(

And, stop shouting! (TURN OFF YOUR CAPS)


Jim