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…

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

It is easy to fall into the trap of assuming that legal and professional costs can be computed in calculating taxable profits if they are incurred wholly and exclusively for the purposes of the business; however this is only part of the story.  

Legal and professional fees – Capital or revenue? At some point, a landlord is likely to incur legal and professional fees in connection with the running of their property rental…

Continue Reading It is easy to fall into the trap of assuming that legal and professional costs can be computed in calculating taxable profits if they are incurred wholly and exclusively for the purposes of the business; however this is only part of the story.  

In essence, it’s all about the ‘wholly and exclusively’ test – could it be time to invest in some branded sweatshirts?

Dual purpose expenditure – can landlords claim a deduction? Landlords are able to claim tax relief for expenses that are incurred wholly and exclusively for the purposes of the property…

Continue Reading In essence, it’s all about the ‘wholly and exclusively’ test – could it be time to invest in some branded sweatshirts?

Today’s blog covers taxing rental deposits – what’s the most you’ve spent repairing after a tenant has moved out?

Rental deposits A landlord will usually take a deposit from a tenant when letting a property to cover the cost of any damage caused to the property by the tenant.…

Continue Reading Today’s blog covers taxing rental deposits – what’s the most you’ve spent repairing after a tenant has moved out?