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Capital gains help please
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Hi Jeremy,
That makes a lot sense, thank you for your honesty. Would you mind elaborating on seeking redress? Does that mean that if they gave me wrong advise, they will be liable as much as me? I don’t mind paying extra tax if it comes to it, I am just really worried about getting a big fine for submitting claims I can’t back with receipts. I am clearly very inexperienced in this field so any advice is appreciated.
Btw the improvements were made in 2011/12 whilst my bank statements go back only to 2017 so I cannot use them. I only have a couple of receipts, one being for the purchase of the new kitchen.Thank you!0 -
BB. said:Hi Jeremy,
That makes a lot sense, thank you for your honesty. Would you mind elaborating on seeking redress? Does that mean that if they gave me wrong advise, they will be liable as much as me? I don’t mind paying extra tax if it comes to it, I am just really worried about getting a big fine for submitting claims I can’t back with receipts. I am clearly very inexperienced in this field so any advice is appreciated.
Btw the improvements were made in 2011/12 whilst my bank statements go back only to 2017 so I cannot use them. I only have a couple of receipts, one being for the purchase of the new kitchen.Thank you!
I know HMRC only require you to keep bank statements for about six years, but I prefer Martin Lewis's advice, which is never throw bank statements away. Nor will I comment on the kitchen, which, depending on what the expenditure was and what it replaced, may or may not be an improvement.1 -
Many thanks Jeremy for this advice and in general helping the MSE community!I have one more question for you all. Is Early repayment charge of the mortgage a deductible expense when calculating CGT?Thank you0
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BB. said:Many thanks Jeremy for this advice and in general helping the MSE community!I have one more question for you all. Is Early repayment charge of the mortgage a deductible expense when calculating CGT?Thank you0
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