Insight & Opinion on Property Tax: UK Landlord Tax

Why You Should Separate Trading & Investment Limited Companies

Oct 16, 2024
| Limited Companies

We receive many enquiries from directors of trading companies. Typically, IT consultants are looking to use their company funds to purchase investment properties in their trading company. However, in ...

Free Company Return Tax Filing Has Ended

Property118 Tax Avoidance Scheme Subject To HMRC Stop Notice

Aug 6, 2024
| News

Sadly, but nonetheless unsurprisingly, HMRC has issued a stop notice to Property 118 in connection with their use of a Capital Account Restructure. The full details can be found here. Dan Needle of Ta...

Maximising Director Benefits: A Comprehensive Guide

Sep 9, 2024
| Limited Companies

Here’s a comprehensive list of potential benefits directors can leverage to their advantage: 1. Trivial Benefits: Directors are entitled to claim trivial benefits up to £300 per director, per tax year...

Pre-Trading Expenditure On A Buy-To-Let Explained

Jul 31, 2024
| What expenses can I claim

Discover how to claim allowable expenses incurred before your first tenant moves in. Learn about deductible costs such as mortgage interest, repairs, insurance, and more. Ensure your claims are HMRC-r...

What You Need To Know About The Abolition of Furnished Holiday Lettings

Jul 30, 2024
| News

Chancellor Reeves to abolish furnished holiday lettings relief by April 2025. Find out more about how these changes could impact you and plan accordingly.

What You Need To Know About Family Investment Companies

Family Investment Companies – What You Need To Know

Jul 8, 2024
| Family Investment Companies

With the rise in landlords buying property through limited companies, now thought to be more than 50% of all new buy-to-let purchases, the use of a Family Investment Company (FIC) structure offers lan...

Meet Arnie: The AI Chatbot Revolutionizing Property Tax Assistance for Landlords

Jun 21, 2024
| Company News

Keeping up with tax obligations and financial regulations is no easy task in the fast-moving world of property management. This is why we have launched “Arnie”, an industry-leading AI chatbot to help ...

Furnished Holiday Lettings – What You Need To Know Next

Apr 24, 2024
| News

The 2024 Spring Budget included the announcement that furnished holiday let (FHL) status will be abolished from April 2025. So what are the implications for FHL business owners who decide to continue ...

Navigating the Continued 2.25% Director’s Loan Rate into 2024/25

Apr 17, 2024
| News

To the surprise of many HMRC has kept the official rate of interest (ORI) for beneficial loan arrangements like director’s loans at 2.25% for the second year running. In a recent press release, HMRC h...

Personal allowances for non-residents and dual residents

Apr 14, 2024
| Non-resident Landlords

If you are living abroad, or you are a foreign national, and you own property in the UK in your personal name, you are still entitled to the UK personal tax allowance depending on your nationality and...

What Is an Associated Company?

Mar 22, 2024
| Limited Companies

An associated company refers to a situation where two or more companies are connected in a way that allows one to influence or control the other. Here are the key points you need to know: Definition: ...

A Closer Look at the Recent Capital Gains Tax Cut

Mar 21, 2024
| Capital Gains Tax

Finally, the main event. The moment we had all been waiting for. The Chancellor announced a cut to Capital Gains Tax on the sale of residential property. Property gains, the one type of gain that attr...

Furnished Holiday Lets to End in April 2025

Mar 20, 2024
| Airbnb Landlords

In his budget on 6th March, Chancellor Jeremy Hunt announced the end of the Furnished Holiday Letting Regime. The stated aim was to make more homes available to local people, particularly in holiday h...

2024 Spring Budget Summary for Landlords

Mar 13, 2024
| News

The 2024 Spring Budget on 6th March held some major changes that will affect all landlords in general and owners of Furnished Holiday Lets in particular. We outline these changes below from the inform...

Short Term Lets in England Will Soon Need Planning Permission.

Feb 21, 2024
| Airbnb Landlords

The Housing Secretary Michael Gove has announced that legislation is to be introduced in England this summer to require owners of short term lets to obtain planning permission from their local council...

Changes to UK Company Law: What You Need To Know

Feb 19, 2024
| Company News

Due to The Economic Crime and Corporate Transparency Act, Companies House is currently undergoing a major transformation. Some of the changes are planned to be introduced from March 2024, while others...

Is It A Repair Or An Improvement?

Feb 11, 2024
| What expenses can I claim

As UK property accountants and tax advisers, we are regularly in discussions with our clients as to the correct treatment of expenditure relating to property letting income. Expenditure will be class...

Stamp Duty Land Tax & Buy To Let: Your Questions Answered

Jan 12, 2024
| Uncategorized

Stamp Duty Land tax (SDLT) remains in the spotlight for change to stimulate markets and the economy. Like most taxes, SDLT does have areas of complexity and many of these areas have been detailed in H...

Capital Gains Tax and Only or Main Residence

Jan 9, 2024
| Capital Gains Tax

When an individual sells their home, subject to rules on size and use, ordinarily any gain on sale is exempt from Capital Gains Tax (CGT). The relief is provided through legislation under Section 222...

Private Residence Relief – When does home ownership begin?

Jan 9, 2024
| Uncategorized

A recent case has bought into sharp focus the position on Principle Residence Relief when building a new home to replace an existing home. In the case of HMRC v Gerald and Sarah Lee 2023, the Upper Tr...

About Business Asset Disposal Relief on Residential Property Disposals

Jan 5, 2024
| Uncategorized

Business Asset Disposal Relief (BADR) provides relief to individuals on gains subject to Capital Gains Tax (CGT). Ordinarily, a gain related to a disposal of residential property will be taxed at 18% ...

Resident in the UAE and looking to invest in UK property?

Jan 3, 2024
| Non-resident Landlords

If you are currently resident in the UAE, whether temporarily or permanently, understanding what your UK tax obligations are when you purchase a UK property and receive rental income is crucial. If do...

Do Camping Pods qualify as “buildings” for capital allowances?

Dec 15, 2023
| News

The recent case involving Acorn Venture Ltd (AV) and the First-tier Tribunal (FTT) illustrates the importance of considering the specific characteristics and functions of assets when determining their...

31 January 2024 deadline for Hybrid LLP’s – Tax Avoidance Spotlight 63

Dec 12, 2023
| News

There is likely to be a good number of taxpayers who have received letters regarding their involvement in Hybrid LLPs, are not sure what to do next and in particular in light of the 31 January 2024 de...

Autumn Statement Impact for UK Landlords

Dec 6, 2023
| Uncategorized

Further Changes to Making Tax Digital For Landlords In his Autumn Statement the Chancellor Jeremy Hunt, confirmed that Making Tax Digital for income tax self-assessment will not be extended to those w...

Less Tax for Landlords Tax Scheme Under Investigation By HMRC

Dec 1, 2023
| Uncategorized

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 sc...

What You Need To Know About HMRC Enquiries & The Let Property Campaign

Nov 1, 2023
| 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 ta...

Multiple Dwellings Relief on Annexes and Separate Dwellings

Oct 30, 2023
| Single Property Landlords

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 m...

Multiple Dwellings Relief – What is it?

Oct 27, 2023
| Uncategorized

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 W...

Starting A Property Business: A Comprehensive Guide

Oct 23, 2023
| Uncategorized

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 whet...

Landlord tax advice & news

Why You Should Separate Trading & Investment Limited Companies

Property118 Tax Avoidance Scheme Subject To HMRC Stop Notice

Maximising Director Benefits: A Comprehensive Guide

Pre-Trading Expenditure On A Buy-To-Let Explained

What You Need To Know About The Abolition of Furnished Holiday Lettings

Family Investment Companies – What You Need To Know

Meet Arnie: The AI Chatbot Revolutionizing Property Tax Assistance for Landlords

Furnished Holiday Lettings – What You Need To Know Next

Navigating the Continued 2.25% Director’s Loan Rate into 2024/25

Personal allowances for non-residents and dual residents

What Is an Associated Company?

A Closer Look at the Recent Capital Gains Tax Cut

Furnished Holiday Lets to End in April 2025

2024 Spring Budget Summary for Landlords

Short Term Lets in England Will Soon Need Planning Permission.

Changes to UK Company Law: What You Need To Know

Is It A Repair Or An Improvement?

Stamp Duty Land Tax & Buy To Let: Your Questions Answered

Capital Gains Tax and Only or Main Residence

Private Residence Relief – When does home ownership begin?

About Business Asset Disposal Relief on Residential Property Disposals

Resident in the UAE and looking to invest in UK property?

Do Camping Pods qualify as “buildings” for capital allowances?

31 January 2024 deadline for Hybrid LLP’s – Tax Avoidance Spotlight 63

Autumn Statement Impact for UK Landlords

Less Tax for Landlords Tax Scheme Under Investigation By HMRC

What You Need To Know About HMRC Enquiries & The Let Property Campaign

Multiple Dwellings Relief on Annexes and Separate Dwellings

Multiple Dwellings Relief – What is it?

Starting A Property Business: A Comprehensive Guide

Categories

UK Landlord Tax