Doing up properties – Are you trading?

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 comes to tax, it is…

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Can you claim business asset disposal relief on the sale of the holiday let?

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 the opportunity to benefit from…

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Property repairs and maintenance – what can you deduct?

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 arises as to whether the…

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Discover how the reduced VAT scheme works for hospitality and leisure businesses

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 these sectors to get back…

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Have you reduced your rent or let family and friends stay in one of your properties during the pandemic?

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 rate or, indeed, allow the…

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Employers have until 6 July 2020 to tell HMRC about taxable benefits and expenses provided to employees in 2019/20. Find out more…

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 July 2020, if they have…

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If you have a holiday let but are worried you won’t meet the occupancy test this year, all is not lost. There are two routes by which it may be possible to reach the required occupancy threshold – an averaging election or a period of grace election.

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 furnished holiday lettings (FHL) enjoy…

Continue Reading If you have a holiday let but are worried you won’t meet the occupancy test this year, all is not lost. There are two routes by which it may be possible to reach the required occupancy threshold – an averaging election or a period of grace election.