UK Landlord Tax blog
Capital Gains Tax Accountant view on Rent a Room
What is the position on Capital Gains Tax and Rent a Room? As a capital gains tax accountant we often get asked about how CGT applies to landlords letting a room in their house under the rent a room scheme. Capital Gain Taxs and Rent A Room relief offer a unique tax...
Residence nil rate band frozen
With the residence nil rate band being frozen until 2026, if you have a high-value estate in the family it might be worth planning ahead to make sure you reduce the inheritance tax bill. Our latest blog explains more. The residence nil rate band (RNRB) is an...
Business Asset Rollover Relief and Air BnB
Air BnB Furnished holiday lettings have a number of tax advantages compared to standard residential lets. One of the key ones is the availability of business asset rollover relief. This enables furnished holiday let owners to sell one property and invest in another...
SDLT and shared ownership
Shared ownership can enable an individual to own a stake in a property where they would not otherwise be able to get on the housing ladder. As with other property purchases, stamp duty land tax (SDLT) is payable where you buy a property through shared ownership in...
Family Investment Company, Inheritance tax and freezing value
Family Investment Company (FIC) Reducing inheritance tax on residential property is a major concern for landlords. By using a family investment company structure you may be able to mitigate the IHT liability attaching to your shares. At the same time, you may also be...
How to avoid capital gains tax using spouses losses
Spouses and civil partners benefit from special rules which could be an option on how to avoid capital gains tax. These allow spouses to transfer assets between themselves at a value that gives rise to neither a gain nor a loss. The transferee spouse/civil partner...
Making Tax Digital (MTD) delayed to 2024
The government has delayed the start of Making Tax Digital (MTD) to 6 April 2024. In a written statement to the House of Commons on 23 September 2021, it was announced that MTD for income tax self-assessment (MTD ITSA) would be postponed yet again to April 2024. New...
New AirBnB furnished holiday lets – Applying the test
As an Air BnB accountants the taxation of furnished holiday lettings offers some unique tax-saving opportunities. All business must start at some point, and a furnished holiday lettings (FHLs) business is no exception. Unlike other rental properties, furnished holiday...
Wear and tear allowances for your Buy to Let
Wear and tear allowances Claiming wear and tear allowances has now changed. In a furnished let, wear and tear of domestic items is inevitable. There will come a time when the landlord will need to provide replacements. From a tax perspective, special rules apply to...
Furnished holiday lettings and interest costs
We often get asked about the tax treatment of interest on Furnished Holiday Lettings (FHL). As specialist furnished holiday lettings accountants, here we focus on the tax treatment of mortgage interest payments. Furnished holiday lettings are something of a special...
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