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

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!

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?

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 so, they are able to…

Continue Reading It can pay off to keep track of your business mileage you incur for your rental properties – here’s why.

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 is a partner of a…

Continue Reading The letting of a jointly-owned property in itself does not give rise to a partnership, so what does?

Are you prepared for the dividend allowance cut on your January 2020 tax return?

Dividend complexities The dividend allowance, which was originally introduced from 6 April 2016, was cut from £5,000 a year to £2,000 from 6 April 2018. The cut is likely to…

Continue Reading Are you prepared for the dividend allowance cut on your January 2020 tax return?