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In this post, we will look at the details of how tax exemption works when it comes to a properties gardens or grounds. We will cover what pitfalls and opportunities these tax exemptions provide.
In this post, we will look at the details of how tax exemption works when it comes to a properties gardens or grounds. We will cover what pitfalls and opportunities these tax exemptions provide.
When it comes to handling the taxes for your buy to let investment any loss in profit you make is handled in a specific way. In this post we’re sharing exactly how you should account for buy to let losses in the most tax efficient way.
In this week’s Q&A post, we answer your questions on how to save the most tax when re-mortgaging your properties. These questions cover real-life scenarios that require advice on when certain tax reliefs apply, and what capital gains tax is applicable to re-mortgaging.
All of the companies featured in the case studies in this blog post are “close” companies.
It is relatively common for an asset (e.g. an investment property) to be jointly held in the names of a married couple (or civil partners). The general rule is that those individuals are treated for income tax purposes as beneficially entitled to the property income in equal shares. This is sometimes referred to as the ’50:50 rule’.
Over the past few years, property investment has become a very profitable way to make money.
As the stamp duty holiday is slowly being phased out, we thought it would be a good time to recap on some common stamp duty questions. These questions have been asked by the public and feature real-life scenarios where stamp duty might apply.
Entrepreneurs’ Relief (ER) was introduced for gains made after 5 April 2008, and replaced the old “Taper Relief” as applied to qualifying business assets. The 2020 Budget contained provisions for it to be renamed as “Business Asset Disposal Relief” (“BADR”). The new BADR is essentially the old ER but with a reduced lifetime allowance.
There are a number of tax reliefs available when renovating properties. In this post we’re going to look at some of the more common reliefs as laid out in the popular Property Tax Portal guide – How to Reduce Landlord Taxes.
This month in Tax Tips Q&A, we answer questions about offsetting expenses against rental income profit and what to do when that income equals a loss. We also have a question about tax on rental income.
This section has been written by Amer Siddiq, founder of Property Tax Portal. Finding an Accountant There is a saying, “a good accountant pays for him/herself”. Never a truer word has been spoken. In this chapter we will become familiar with and understand how to acquire the services of an excellent accountant.
Repairing the fixed assets of a business will generally be a tax-allowable business expense, but improving an asset will not. Repairs are revenue expenses, and allowable against income, but improvements are capital expenditure, and not allowable against income (although they may be deducted from the capital gain on disposal for CGT purposes).
Tax Tips Q&A is back for its second month. This month’s tips are all about property repairs. These handy property questions and answers have been shared with us from Arthur Weller’s ‘247 Property Tax Questions Answered’. In this guide he answers tax questions on Capital Gains Tax, Buy-to-let Tax, Inheritance Tax, Gifting Tax and so much […]
In this post, we will look at when it is beneficial to use a company to grow a property portfolio.
