Cash basis or accruals basis?
There are two different ways in which accounts can be prepared – the cash basis and the accruals basis. The cash basis is the default
There are two different ways in which accounts can be prepared – the cash basis and the accruals basis. The cash basis is the default
If you let out a property, you can deduct the business expenses that you incur when working out your taxable rental profit. The rules governing
Private residence relief means that you do not have to pay capital gains tax on any gain that you make when your sell your home
In his March Budget, the Chancellor announced a number of changes to the pension tax rules, including an increase in the annual allowance and the
A self-invested personal pension (SIPP) can be an attractive option for saving for retirement and is one that is popular with company directors. Under a
If you run your property business from home, you may wish to use simplified expenses to claim relief for associated household costs. You can also
Landlords who have benefited from rising property prices in recent years may wish to consider releasing equity now in case prices drop. This may be
In the ill-fated mini Budget, the then Chancellor increased the residential stamp duty land tax threshold from £125,000 to £250,000 with effect from 23 September
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
If you have income from land and property, you may be able to take advantage of the property allowance. The allowance can be used in
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
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
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
Those looking to buy an investment property may wish to consider a holiday let. Not only do the second and subsequent homes benefit from SDLT
Capital gains tax implications of selling the buy-to-let There may come a time when a landlord no longer wants to hold a buy-to let property
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
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
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
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