Dealing with taxes is a standard necessity for landlords and property investors. It can be a tedious exercise. With the right preparation, however, you can minimize both the time and the expense involved. If you are a landlord If you are a landlord, you are directly investing in property. If […]
How to Maximise Landlord Expenses: Revenue v Capital Expenses
Pre-Letting Property Expenses – Tax Misconceptions
Understanding SIC Codes For Property Businesses
Over the past few weeks we’ve been thinking about how to structure our property businesses and this week we’re going to think about whether we should separate our activities into different companies and why. I’m often asked by investors if they should have just one company and within that company […]
The Pros and Cons of holding Property in a Limited Company
Since Section 24 (which you can read about here), the UK tax landscape has changed. Following George Osborne’s decision to stop investors and landlords from offsetting mortgage interest when calculating the profit made from buy to let properties, the panorama has shifted. Whereas before it was considered tax efficient to […]
Your property tax bill since Section 24
Maximise Tax Relief When ‘Doing Up’ Your Buy-To-Let
Holiday Lettings – At Your Service?
Mark McLaughlin looks at furnished holiday lettings in the context of inheritance tax business property relief. Business property relief (BPR) is a valuable inheritance tax (IHT) relief, which is available to business owners if certain conditions are satisfied. The relief applies to ‘relevant business property’, including a business or interest […]
Property Rental Expenses: Your Guess Is As Good As Mine!
Mark McLaughlin highlights a tax case in which HMRC estimated a taxpayer’s property rental business expenses in the absence of sufficient records. Keeping full and proper records of property rental business expenses is an important task for landlords. For example, HM Revenue and Customs (HMRC) could seek to disallow such […]
Non-UK Landlords to be Taxed on Profits from UK Property Investment
Despite being designed to attract investment from overseas investors over 50 years ago, a tax policy is set to be withdrawn following the announcements within the recent budget. Creating widespread disapproval, the Chancellor has revealed that non-UK residents will be subject to UK tax charges when selling their residential and […]