The Tax Insider Team considers the drawbacks of the popular property holding company structure – and considers a possible alternative. Of course, there are other reasons, not related to tax, why you might want to set up a limited company to hold a property portfolio. But we’re going to stick […]
At some point in your property journey, you’re going to be paying tax – perhaps even a lot of tax if everything goes to plan – so over the next few weeks we’re going to be thinking about taxes. Whilst probably not your favourite subject, tax does play a vital […]
Landlords have been urged to speak with specialist buy to let mortgage broker firms over the coming weeks, as many consider remortgaging options at the end of the initial fixed period. April 2016 saw the introduction of the Government’s 3% stamp duty levy on second homes, prompting many borrowers to […]
As news hits us that Stamp Duty is to be abolished for first time property buyers purchasing property under £300,000 along with the underwhelming downgrade of the official economic growth estimations, reactions from our experts are as follows. Paresh Raja, CEO of bridging specialist MFS stated “After an underwhelming Spring Budget […]
Stamp duty land tax (SDLT) is the tax charged by the government when purchasing a property or land costing more than £125,000 in England, Wales and Northern Ireland. The stamp duty rates an individual must pay will vary depending on the price and type of property (residential or non-residential). The […]
Today’s announcement by the Bank of England that interest rates will rise from 0.25 to 0.5% has not come as a surprise, but marks a significant change in direction following almost a decade of record low interest rates. First Time Buyers who have purchased a property in the past 10 […]
The UK Government has announced its intentions to reform the home-buying process by addressing practices like gazumping. At the same time, with interest rates set to rise for the first time in a decade to 0.5%, industry bodies are also calling for the Government to scrap Stamp Duty in next […]
Stamp duty has long been a contentious issue for property investors and home owners alike. This has lead to renewed calls for the Chancellor to scrap stamp duty in his next budget, whilst others feel that it should be switched from the responsibility of the buyer to that of the […]
HMRC have recently published a series of case studies which aim to help landlords avoid common mistakes when working out and reporting income and profit from renting out property. Some of the situations covered by the case studies are explored below. The case studies are taken from HMRC’s guidance. Remortgaging […]
As of the 6th April 2017, landlords will no longer be able to deduct all of their finance costs from their property income to arrive at their profits. Instead, they will receive a basic rate reduction from their income tax liability for their finance costs. What does this mean for […]
