HMRC have recently published a spotlight warning landlords to avoid schemes offering hybrid property arrangements that purport to save tax. HMRC’s view is that the
In a climate of interest rate hikes and rising mortgage rates, property investors will want to ensure that they do not miss out on tax
In common with other types of business, expenses are unavoidable when running a property business. However, subject to certain conditions, it is possible to obtain
When letting property, the aim is to make a profit. However, as recent years have shown, life is unpredictable and things do not always work
Where a landlord runs an unincorporated property business, the profits from that business are charged to income tax. Where the business is carried on through
Where a property is let out, there are likely to be periods when the property is empty, either between tenants or, in the case of
When it comes to let properties, furnished holiday lettings (FHL) are a special case andbenefit from a number of concessions not available to standard lets.
Where a chargeable gain arises in respect of a UK residential property, since April 2020, thegain must be reported to HMRC and a payment made
A landlord will normally take a deposit from a tenant when letting a property to cover the cost of any damage caused to the property
The deadline for filing the 2020/21 self-assessment tax return online is 31 January 2022. If you received income from property, you may need to tell
Legislation has been published in draft which will bring a new tax – the Residential Property Developer Tax (RPDT) onto the statute book. The publication
Furnished holiday lettings have a number of tax advantages compared to standard residential lets, and one of the key ones is the availability of business
In a furnished let, wear and tear of domestic items is inevitable and there will come a time when the landlord will need to provide
For tax purposes, furnished holiday lettings are something of a special case and benefit from a number of advantages not available to standard residential lets.
Rent-a-room relief aims to encourage those with spare rooms in their homes to let them out to increase the supply of furnished rental accommodation. Under
Copyright © 2023 Pro-Taxman. All rights Reserved.
