Are you a buy-to-let landlord who’s decided to take a mortgage payment holiday? We explain the impact on this on tax relief for interest payments in today’s blog.

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 able to take a three-month…

Continue Reading Are you a buy-to-let landlord who’s decided to take a mortgage payment holiday? We explain the impact on this on tax relief for interest payments in today’s blog.

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 Covid-19 pandemic. Tenants suffering cashflow…

Continue Reading 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

Not putting a property in joint names prior to selling is an easily avoided mistake – read our blog to see if this would benefit you.

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 academic, from a tax perspective…

Continue Reading Not putting a property in joint names prior to selling is an easily avoided mistake – read our blog to see if this would benefit you.

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.  

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 that is less than the…

Continue Reading 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!

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 type finance costs that are…

Continue Reading This blog explains what qualifies for relief for finance costs, the limit on eligible borrowings, and how capital repayments work with a quick example.

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?