Capital gains tax on residential property gains
For capital gains tax purposes, residential property gains have their own, harsher, rules. Not only is taxed charged at a higher rate, but taxpayers also
For capital gains tax purposes, residential property gains have their own, harsher, rules. Not only is taxed charged at a higher rate, but taxpayers also
Recent tax changes, in particular the interest restriction for unincorporated property businesses with residential lets, have resulted in more landlords operating via a property company.
Where an individual realises a chargeable gain on the disposal of a UK residential property, they must report the gain to HMRC within 60 days
If you make a chargeable gain on the sale of a UK residential property, you will need to report the gain to HMRC within 60
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
Where a landlord runs an unincorporated property business, the profits from that business are charged to income tax. Where the business is carried on through
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
Furnished holiday lettings – What can you do if you fail to meet the occupancy tests due to the Covid-19 pandemic? Lets that qualify as
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
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
Joint tenants v tenants in common – Does it matter? There are two different ways of owning property jointly – as joint tenants or as
Buying a property to let – the importance of keeping records from day one For tax purposes, good record keeping is essential. Without complete and
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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