Cash basis or accruals basis?
There are two different ways in which accounts can be prepared – the cash basis and the accruals basis. The cash basis is the default
There are two different ways in which accounts can be prepared – the cash basis and the accruals basis. The cash basis is the default
This year has been difficult for many and landlords may not have been able to secure the full market rent for a property. Landlords may
Hard on the heels of a series of local lockdowns, England entered into a second national lockdown from 5 November 2020 to 2 December 2020.
Despite the crazy and uncertain times that we find ourselves living in, directors and employees can still celebrate Christmas in tax-free style – even it
The rent-a-room scheme allows those with a spare room in their home to let it out furnished and to receive rental income of £7,500 tax-free
There can be money to be made buying a property in a dilapidated state, renovating it, and selling it for a profit. However, when it
Furnished holiday lets benefit from a number of tax advantages which are not available to landlords of residential lets. One of the main advantages is
Anyone who owns a property will need to carry out repairs and maintenance from time to time. Where the property is let out, the question
As the new academic year begins, for student starting or returning to university, the 2020/21 academic year looks very different to normal. While many students
Those looking to buy an investment property may wish to consider a holiday let. Not only do the second and subsequent homes benefit from SDLT
Private residence relief removes the charge to capital gains tax on the taxpayer’s only or main residence. For the purposes of the relief, a taxpayer
In his Economic statement on 8 July 2020, Chancellor Rishi Sunak highlighted that property transactions fell by more than 50% in May, while house prices
Special stamp duty land tax (SDLT) rules apply where there are multiple sales or transfers between the same buyer and seller. Linked transactions Where two
Temporary cut in SDLT – Who benefits? To boost confidence in the property market and to maintain the momentum that has been gained since the
Capital gains tax implications of selling the buy-to-let There may come a time when a landlord no longer wants to hold a buy-to let property
Tax implications of uncommercial lets There are various circumstances in which a landlord may let a property at rate which is below the current market
During the Covid-19 pandemic, landlords may have periods when their properties have been empty. Landlords letting furnished holiday lettings were particularly badly affected due the
Mortgage payment holidays and interest relief for landlords In March, the Government announced that homeowners struggling to pay their mortgages due to Coronavirus would be
Furnished holiday lettings – What can you do if you fail to meet the occupancy tests due to the Covid-19 pandemic? Lets that qualify as
Late or unpaid rent – Impact on the calculation of a landlord’s taxable profits As with other sectors, landlords may be adversely affected by the
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