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...
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...
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 provide relief for the cost of replacement domestic items. The rules only...
Cash Basis vs Accruals Basis The majority of landlords prepare accounts using the default 'cash basis' where income is recognised when received and expenses when paid (providing that the expense is incurred 'wholly and necessarily' for the business). Although this...
In many ways, HMRC has become much easier to deal with in recent decades. Its officials seem more willing to talk and to give advice – and often more flexible. At the same time, any landlord contacting them should be careful and methodical.
A landlord tax specialist could save you money and save you from frustration. Here’s a checklist of what you ought to expect from your accountant.
The fact is, we’re too busy to help in person right now, but we don’t like the thought of people struggling so here’s some hopefully helpful advice.
Current capital gains tax (CGT) rates are too complex and should be aligned with those for income tax, according to the Office for Tax Simplification (OTS) – what could this mean for landlords?
As both landlord tax experts and landlords ourselves, our expertise goes beyond accountancy. Here are our tips on finding a reliable letting agent for your UK rental property.
The Let Property Campaign is a lifeline for accidental landlords who might not have realised they need to pay tax on rental income from their second property.