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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
Reduced rate of VAT for hospitality and leisure The hospitality and leisure industries have been severely affected by the Coronavirus pandemic. To help businesses in
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
Reporting expenses and benefits for 2019/20 Employers who provided taxable expenses and benefits to employees in 2019/20 need to tell HMRC about them by 6
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
Pro-taxman in Hounslow strongly advises that you initially need to determine your residency status for the tax year in question. This is decided using the
You made it and filed your self-assessment return for 2018/19 by the 31 January 2020. However, having felt pleased with yourself, you realise to your
Pension savings can be tax efficient as contributions to registered pension schemes, attracting tax relief up to certain limits. Limit on tax relief Tax relief
Properties not let at a commercial rent There may be a number of reasons why a property is occupied rent-free or let out at rent
Allowable finance costs Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the
The self-assessment deadline is looming. Self-assessment tax returns for the year to 5 April 2019 must be filed online by 31 January 2020 if a
Partnership rather than a limited company. We explain why in today’s blog. Employer-funded scholarships Special tax rules apply to scholarships, which include exhibitions, bursaries or
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
When is a car a pool car? Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and
Non-residents landlord scheme A non-resident landlord is a landlord who lets out property in the UK but spends more than six months in the tax
Property income receipts – what should be included? When calculating the profit or loss for a property rental business, it is important that nothing is
Using the property rental toolkit to avoid common errors in returns HMRC’s property rental toolkit highlights errors commonly found in tax returns in relation to
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