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
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
For landlords, the impact that unpaid or late paid rent has on the calculation of taxable profits depends on whether you prepare accounts on the cash basis or under the accruals basis. We go through some case studies in today’s blog
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
Renting out a property at a rate below the commercial level might sound like a great idea – but it might cost you dearly if you try to seek tax relief for your expenses!
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
This blog explains what qualifies for relief for finance costs, the limit on eligible borrowings, and how capital repayments work with a quick example.
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
Landlords – you must file your self-assessment tax return by 31 January 2020 to avoid a late filing penalty. Here’s what you need to know:
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
Today’s blog covers the serious curtailment to letting relief for landlords coming April 2020 – read more here.
Curtailment of letting relief Landlords have been hit with a number of tax hikes in recent years, and this trend shows no signs of abating.
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
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
There are a number of scenarios in which a couple may decide to put a property which was previously in sole name into joint names.