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what would be sufficient to show the tax man i have lived there?

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  • what would be sufficient to show the tax man i have lived there?

    Im am currently living at parents while doing up a flat. This is the only flat i own. Just wondering what would be sufficient to show the tax man i have lived there? I will live there for a short while finishing work off. Just abit worried as i've been living at home to while doing work up until now. I would have thought Cancel tax bill, bank statments to that address maybe?

  • #2
    If you have lived there, then you have lived there. If not and you are hoping to sell but say you have lived there for the Capital Gains Tax, then you are committing fraud.

    If you are living there whilst you do it up, then have all your mail coming to it, pay your council tax etc. I am not a lawyer (so don't sure me if I am wrong) but that should be enough to prove that.

    I have heard of other people (I don't know any) that have their mail delivered to the property, but then redirect it and they can get away with it, but if they are caught, they will be done for fraud.

    Is it a risk you want to take?
    Community spirited? http://www.AshfieldFOCUS.com


    • #3
      hi i dont acturally know about tax involved etc as im new to this but would obviously speak to accountant or advisor. im honest and would rather pay. i thought that you could live there and do it up.


      • #4
        There is no reason why you can't live there while you do it up. I guess all you need is weather proof (roof, windows, door) and running water. If that is the case, then you don't need to worry about the tax implications if it is your main residence.
        Community spirited? http://www.AshfieldFOCUS.com


        • #5
          Hi Cjones,

          if you google "inland revenue" and search for the following "Capital Gains tax relief on your own home" you'll have everything you ned to know. The inland revenue publish all the details you need to claim taper relief on your property. If you pop along you to your local inland revenue office you might be surprised at how friendly everyone there is. I was absolutely astounded that the people advising were not only advising me on how to best avoid tax but actually happy to do so. They even went out of their way to find loopholes for me. Naturally, this was all completely legal, but their attitude seemed to be, if you are an honest person with honerable intentions then they dont want you to fall foul of the system and will really go out of their way to see that you dont pay any more than you have to.

          I have only ever user the Cambridge office so cant speak for any others, but the people who man their helpline have always been quite lovely too.

          Good luck.


          • #6
            That is my experience too - I just turned up at the local tax office and asked if they had someone I could talk to informally for advice and suggestions, and they were very willing to do so.
            Renovation opportunity, 3b det., Carmarthenshire