Making use of the property allowance
It is possible to enjoy tax-free income from property, even if you have already used up your personal allowance. This is because the property allowance
It is possible to enjoy tax-free income from property, even if you have already used up your personal allowance. This is because the property allowance
The property allowance is a useful allowance that allows you to earn property income of up to £1,000 tax-free each tax year. If your income
In a climate of rising interest rates and rising inflation, every penny is likely to count. For working parents, help with their childcare costs is
If you receive rental income from properties that you let out, you will need to tell HMRC about it on the property pages of your
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
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
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
Joint tenants v tenants in common – Does it matter? There are two different ways of owning property jointly – as joint tenants or as
Private residence relief and the final period exemption From a capital gains tax perspective, there are significant tax savings to be had if a property
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
Property income receipts – what should be included? When calculating the profit or loss for a property rental business, it is important that nothing is
Managing a rental business from home A landlord will often manage their property rental business from home, and in doing so will incur additional household
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