UK Landlord Tax blog
Less Tax for Landlords Tax Scheme Under Investigation By HMRC
Following approaches by a number of landlords worried about the implications of HMRC’s Spotlight 63, we understand that HMRC have now written to buy-to-let property owners regarding a tax avoidance scheme promoted by Less Tax for Landlords and others requiring them to...
What You Need To Know About HMRC Enquiries & The Let Property Campaign
As the Self-Assessment deadline of January 31 looms ever closer, it's a prudent moment to revisit the time constraints governing HMRC inquiries. These statutory timelines are crucial for both taxpayers and HMRC to understand their rights and obligations: For...
Multiple Dwellings Relief on Annexes and Separate Dwellings
If you are buying a home with a separate annex you may be able to claim Multiple Dwellings Relief (MDR) and significantly reduce the amount of SDLT payable. MDR applies where you are purchasing 2 or more dwellings. For example:- You purchase a second home for £1...
Multiple Dwellings Relief – What is it?
Multiple Dwellings Relief (MDR) is one of a set of reliefs for Stamp Duty Land Tax (SDLT) on any purchase of property in England and Northern Ireland. There are similar rules for MDR in Scotland and Wales. Under s 58D, sch 6B FA 2003 you can claim MDR relief when you...
Starting A Property Business: A Comprehensive Guide
Getting the property company up and running If you come to the conclusion that a property company is the right way to go, the first step is to form a company. What happens next largely depends on whether you are looking to build up a portfolio from scratch or to put...
Tax Implications Around Moving to Dubai from the UK
Moving to Dubai from the UK Recent years have seen many UK residents attracted to the idea of relocating to Dubai to take advantage of a number of benefits (not just the weather). The good news is that there is no tax at all in Dubai but you may have tax obligations...
The Tax Implications Of Moving to Australia from the UK
Moving to a new country is an exciting time and life-changing experience, but careful consideration is required of the financial obligations the Australian Tax Office (ATO) poses on new residents. Australia has its own unique tax system, varying from the UK tax...
Claiming Private Resident Relief For Periods Of Non Occupancy
Introduction Sylvia purchased a property ten years ago. She lived in it for two years before being seconded by her employer to work in another part of the UK. Sylvia lived there for five years before being seconded to work overseas for one year. She remained living...
HMRC’s Opinion On Hybrid LLP’s – Why They Don’t Work
A heavily promoted tax scheme using an LLP with a corporate shareholder has literally come under the spotlight by HMRC. The scheme was promoted to landlords to avoid paying tax on their property income and reduce Capital Gains Tax and Inheritance Tax. HMRC has now...
Register of Overseas Entities – Steps & Deadline
The Register of Overseas Entities came into force in the UK on 1 August 2022 through the new Economic Crime (Transparency and Enforcement) Act 2022. This legislation applies to any overseas company that purchased land or property in the UK on or after 1st January 1999...
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