skip to Main Content

We Want To Hear From you

Have a comment or question? Send us a message.

Get In Touch With Us Today

If you have got questions, we have the answers. Just send us a message and one of our accountants will be in contact with you within 48hrs – even on weekends and holidays.

    Your Message

    Stop By Anytime

    We are open: Monday to Friday from 9am to 7pm and Saturday from 10am to 5pm

    18 - 20 East Street
    Bromley, BR1 1QU

    At Adiva Accountants all initial consultations are free of charge, so contact us today.
    For quality, competitive, and friendly accountancy services, please contact

    Adiva Accountants

    on 020 8313 9117 or via email at contact@adivaaccountants.co.uk.

    At Adiva Accountants we have the knowledge and the experience to provide you with the kind of accounting and tax services that you are looking for. At Adiva Accountants we look forward to discuss with you, without obligation, ways in which we may be able to help your personal or business needs.

    Alternatively, you can complete the contact form here and we will respond as soon as possible.

    Directors of Adiva Accountants have over 10 years’ experience of providing accountancy services. They have completed Bachelor and Masters degrees in Accountancy, Taxation and Business Management. Additionally, they have completed various accountancy qualifications such as ACCA, AAT, etc. So, they hold various accountancy degrees and qualifications up to chartered certified accountant.

    They can advise you on many other things, such as how to get the best price when you come to sell your business. Or on how to satisfy the banks conditions when you need help with finance. Or on how to keep creditors, insurers and suppliers happy, etc. Their expertise covers income tax, capital gains tax, corporation tax, VAT, payroll and many more.

    They can help with dealing with Inland Revenue investigations also.


    Parking

    There are parking bays right in front of the office, please be careful not to park in loading bays. Parking costs £1.90 per hour (maximum stay 2 hours). Alternatively, you can park in Sainsbury’s car park, which is just 1 minute walk away from the office. Parking there is completely free for 30 minutes and would be free for up to 2 hours provided you spend £10 in Sainsbury’s. Our office is at 18-20 East Street, Bromley BR1 1QU, which is opposite of O’Neill’s pub and TruGym.

    Alternatively, there is a big car park (1,500 spaces) in the INTU Bromley Shopping Centre (formerly The Glades). Parking costs £1.10 per hour for every day of the week. The shopping centre car park address is: The Glades, High Street, Bromley, BR1 3EF.


    By car

    If you drive to our office in Bromley, please enter this address in your Satnav 18-20 East Street, Bromley, BR1 1QU. From Orpington, you can take A232, then A21. From Beckenham, you can take A222. From Eltham, you can take A208B226A2212, then A21. From Lewisham and Catford, you can take A21. From Croydon, you can take A232A233, then A21. From Kent, you can take A21. From North and East London, you can take the Blackwell tunnel southbound, A2A2213A20South Circular RoadA2212, then A21. From West London, you can take South Circular Road to Catford, then A21.


    Public transport

    We are situated in Bromley East Street, which is served by Bromley South and Bromley North train stations, they are about 5-10 minute’s walk away oesterreichischeapotheke.com/. There are direct trains from London Victoria, London Bridge and London Blackfriars to Bromley South station. Bromley South is connected by direct trains to major towns around London and in Kent such as St Albans, Orpington, Sevenoaks, Ashford, Gillingham, and Ramsgate.

    The main bus routes serving Bromley High street are 61, 119, 138, 146, 208, 227, 246, 261, 269, 320, 336, 352, 354, 358, and 367.

    Chartered Certified Accountants       Call us: 020 8313 9117 contact@adivaaccountants.co.uk
    We're currently open.

    How the tax on property sale can impact you?

    If you sell the property, the capital gains tax (CGT) will be payable. The tax will be payable on the disposal proceeds less the original cost of the property, certain legal costs and any capital improvements made to the property. Before the tax the gain will be further reduced by any annual exemption available. The resulting gain is then taxed at either 18% (part of gain which falls within the basic rate band). Or 28% (part of gain within higher and additional rate band), or a combination of the two rates.

    From 6 April 2016, a reduction of CGT rates is introduced generally from 28% to 20% (the higher rate band) and from 18% to 10% (the basic rate band). However, in regard of the gains arising on the disposal of residential property that do not qualify for private residence relief, there is no change (28% and 18% rates will continue to apply). CGT is payable on 31 January after the end of the tax year in which the gain is made. From April 2019, on the disposal of residential property a payment on account of any CGT due will be required to be made within 30 days of the completion of the disposal. The above is not required for gains on properties which are not liable for CGT due to Private Residence Relief.

    Student lettings

    If you have children at college or university, then buy to let may be a good option. However, it is important that the arrangement is structured in the right way. Not the parent, but the student should purchase the property (with the parent acting as guarantor on the mortgage). We will describe below the advantages of this arrangement.

    Advantages

    First, you will provide your child with somewhere decent to live in a cost-effective way. Rental income on letting spare rooms to other students should be sufficient to cover the mortgage repayments and other costs.

    Second, the amount of rental income chargeable to income tax is reduced by ‘rent a room relief’. This relief is increased to £7,500 per annum from 6 April 2016 (was £4,250 for 2015/16). Please note that if you claim this relief, no expenses are tax deductible. Alternatively, if it is more beneficial, expenses can be deducted from income under normal letting rules.

    Third, if the property will be the child’s only property, it will be regarded as their main residence and it will be exempt from CGT on its eventual sale.

    If you live in Croydon, Kent and London we, at Adiva Accountants in Croydon, can help you in relation to capital gains and how to minimise your tax liability.

    Categories: Personal taxation, Property income in Bromley
    Back To Top