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
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
Considering selling your buy-to-let property? The late filing penalties for delaying to notify HMRC are no longer paused, read the latest here.
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
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
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
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
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
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
The last thing you want for Christmas is an inheritance tax liability! Read this blog to make sure you don’t get caught.
Beware of triggering an IHT bill on Christmas gifts When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax
It can pay off to keep track of your business mileage you incur for your rental properties – here’s why.
Using your car in your property rental business Landlords will often use their car for the purposes of their property rental business. Where they do
HMRC have given new guidance on how stamp duty is applied to residential property which has land. Take a look at our short blog if you’re thinking of purchasing a property that has features such as farmland, stables or orchards.
Grounds and gardens for SDLT Stamp duty land tax (SDLT) on residential property also applies to land that form the garden or grounds of the
A SIC code stands for Standard Industrial Classification code, and classifies your business activity at Companies House. SIC code for a company can be changed
VAT refunds for DIY builders If you build your own house or convert an existing property into a home, you may be eligible to apply
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
A quick guide to what should be included when calculating the profit or loss for a property rental business.
Property income receipts – what should be included? When calculating the profit or loss for a property rental business, it is important that nothing is
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
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
The letting of a jointly-owned property in itself does not give rise to a partnership, so what does?
Property partnerships A person may own a property jointly that is let out as part of a partnership business. This may arise if the person