10 deductible expenses
If you let out a property, you can deduct the business expenses that you incur when working out your taxable rental profit. The rules governing
If you let out a property, you can deduct the business expenses that you incur when working out your taxable rental profit. The rules governing
Spouses and civil partners enjoy certain tax breaks, including the ability to transfer assets between them at a value that gives rise to neither a
Landlords who have benefited from rising property prices in recent years may wish to consider releasing equity now in case prices drop. This may be
Under the original plans, landlords with rental income (or combined rental and business income) of more than £10,000 would have needed to comply with Making
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
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
Potential benefits of putting a property into joint names prior to sale Where a property qualifies in full for private residence relief, it is perhaps
Legal and professional fees – Capital or revenue? At some point, a landlord is likely to incur legal and professional fees in connection with the
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
Dual purpose expenditure – can landlords claim a deduction? Landlords are able to claim tax relief for expenses that are incurred wholly and exclusively for
Many Airbnb lets are used as holiday accommodation. From a tax perspective, furnished holiday lettings enjoy some tax advantages over other lets. So, is it
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
Grounds and gardens for SDLT Stamp duty land tax (SDLT) on residential property also applies to land that form the garden or grounds of the
Joint tenants v tenants in common – Does it matter? There are two different ways of owning property jointly – as joint tenants or as
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