It is easy to fall into the trap of assuming that legal and professional costs can be computed in calculating taxable profits if they are incurred wholly and exclusively for the purposes of the business; however this is only part of the story.  

Legal and professional fees – Capital or revenue? At some point, a landlord is likely to incur legal and professional fees in connection with the running of their property rental…

Continue Reading It is easy to fall into the trap of assuming that legal and professional costs can be computed in calculating taxable profits if they are incurred wholly and exclusively for the purposes of the business; however this is only part of the story.  

The last thing you want for Christmas is an inheritance tax liability! Read this blog to make sure you don’t get caught.

Beware of triggering an IHT bill on Christmas gifts When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax liability is not one that…

Continue Reading The last thing you want for Christmas is an inheritance tax liability! Read this blog to make sure you don’t get caught.

It can pay off to keep track of your business mileage you incur for your rental properties – here’s why.

Using your car in your property rental business Landlords will often use their car for the purposes of their property rental business. Where they do so, they are able to…

Continue Reading It can pay off to keep track of your business mileage you incur for your rental properties – here’s why.

Joint tenants v tenants in common – Which you choose will depend on whether you’d like flexibility in allocating property income, and how you want your property to be passed on.

Joint tenants v tenants in common – Does it matter? There are two different ways of owning property jointly – as joint tenants or as tenants in common. The way…

Continue Reading Joint tenants v tenants in common – Which you choose will depend on whether you’d like flexibility in allocating property income, and how you want your property to be passed on.