UK Landlord Tax blog
What has the Spring Statement done for landlords?
So what has the Spring Statement done for landlords? In short, not much. Indirectly, the measure to cut the VAT on materials such as solar panels, heat pumps and insulation will help if you were thinking of any improvements in this area. Generally, the 5p cut in fuel...
The Rental Property Allowance
Can you benefit from the £1,000 property allowance? If you have income from land and property, you may be able to take advantage of the property allowance. This allowance can be used in various ways. Tax exemption If your income from property is less than £1,000, the...
Air BnB and post covid
Furnished Holiday lets - non-compliance of the rules - implications post covid. Of the sectors of the UK economy affected by the pandemic, it has been the travel and tourism sector that has been hit most. One area particularly hard hit being the Furnished Holiday Let...
Inheritance tax and the family home. Beware gift with reservation rules
Inheritance tax and the family home The family home is likely to be your most valuable asset. Consequently, when looking to reduce inheritance tax, it may seem sensible to try and give your home away before your die. From a capital gains tax perspective, as long as...
Let Property Campaign – What is it
What is the Let Property Campaign? Set up by HMRC many years ago, the Let Property Campaign is a long-running disclosure opportunity aimed at residential property landlords who need to bring their tax affairs up to date. It allows individuals to disclose undeclared...
Thinking of incorporating a Partnership to save Stamp Duty on buy to let property? Don’t do it
Do you have an existing property portfolio that you want to put into a Limited Company? Have you been told by many different notorious websites that you could create a Partnership and then incorporate it to save stamp duty on buy to let property? Or have you been told...
Tax benefits of electric cars for landlords
Simon Thandi looks at the impact of the recent tax changes when property businesses acquire electric vehicles. In particular the impact for property investors that hold their rental properties in a buy to let limited company. Many businesses all over the UK are now...
Reporting income from property for 2020/21
The deadline for filing the 2020/21 self-assessment tax return online is 31 January 2022. If you received income from property, you may need to tell HMRC about it on your return. There are designated property income pages for providing details of your property income....
Why you should use a property tax accountant
Why use a specialist property tax accountant? It’s a question we get asked regularly and one you may have thought about. The short answer is if you speak to the right property tax specialist you should pay the lowest amount of income tax, Inheritance tax, capital...
Capital Gains Tax Reporting Extended to 60 Days
Capital Gains Tax Reporting deadline increases to 60 days The Autumn Budget 2021 includes an announcement that the Capital Gains Tax Reporting deadline is to be extended to 60 days from the previous deadline of 30 days. For disposals of UK residential property...
Got a question for our landlord tax experts?
If there’s a property tax issue that has you puzzled or worried, get in touch. Everyone on our team loves to talk, especially when it helps people like you find peace of mind.