Passing on a buy to let (BTL) property to your child is an excellent investment in their future. They’ll benefit from both the value of the asset and the income it generates. However, if you have a property you’re looking to transfer, you need to be aware of the Capital […]
Even though the London property market is currently in slowdown, prices remain some of the highest in the country. This obviously puts pressure on affordability and this pressure is increased by the cost of Stamp Duty Land Tax, which can be very expensive for residential buyers and even more so […]
The vast majority of UK properties are privately owned by individuals, many having been purchased as an investment rather than as a main residence. The private investor landlord is taxed on the amount of letting income received less allowable expenses incurred on a fiscal year basis, as well as on […]
With Britain expected to depart the European Union by October 31 and still no deal in place, it’s fair to say now is a sensitive time in British politics. However, negotiating Brexit is not the only major challenge confronting the new Prime Minister, Boris Johnson. The British economy, while hardly […]
Mark McLaughlin highlights a potential problem for married couples and civil partners regarding valuations of jointly-owned property. Valuing assets such as land and buildings is potentially tricky for various tax purposes, including inheritance tax (IHT) on making a chargeable lifetime transfer, or on death. One area of potential difficulty is […]
The Property Tax Insider team explains how landlords can obtain tax relief when replacing certain domestic appliances. Where a landlord lets a property, domestic items may be provided as part of the let. Where the let is unfurnished, this may only include curtains and minimal white goods, whereas in a […]
Alan Pink considers the tax charges that can arise when a trading property becomes an investment and vice versa. Tax planning for property can be fraught with problems, particularly in relation to the all-important question of whether a property-based activity is trading or investment for tax purposes. The distinction is […]
Richard Litchfield is Head of Operations at Lending Works. Here he explains how landlords can boost their profits by investing their rental income in peer-to-peer lending. Tighter tax and mortgage regulations have hit the buy-to-let market hard in recent years. In fact, investment in rental properties fell from £25 billion […]
Sarah Bradford looks at when it can be beneficial to transfer an interest in an investment property to a spouse or civil partner prior to sale. The tax system affords some tax breaks to married couples and civil partners and it is possible, depending on personal circumstances, to use these […]
Many buy-to-let landlords in the UK are looking to diversify their property portfolios, having been unable to keep up with the various changes to the UK tax system in recent years. In data from a new survey conducted by specialist lender OneSavings Bank, it is known that 51% of brokers […]
