In line with the recent tax changes to property lettings, we’ve posted a detailed review on our resources page. Here’s an at-a-view glance about what you need to know… Understanding the new rules The recent tax changes to property lettings apply to buy-to-let landlords in the UK and their residential properties. Interest relief The change […]Read More
Following the 2015 Summer Budget, there are some changes being brought into force for buy-to-let owners. Read on to find out how the new rules will affect you…
Heard the news? Income tax relief for landlords on residential property finance costs is to be restricted to the basic rate of income tax.Read More
Many businesses receive capital allowances to recognise the equipment they use. However, there are no capital allowances for equipment such as beds, furniture, fridges and cookers bought for use in a residential property.
This is not the case for properties which fall within the definition of a ‘furnished holiday letting’ and expenditure on assets which are used in the non-residential part of a block of flats, for example the hallways.Read More
H.M.R.C. are cranking up their campaigns against tax defaulters by launching two new initiatives:
The Let Property Campaign
This campaign is aimed at getting people with undeclared rental income to come forward. It is targeting the residential property letting market. H.M.R.C. estimates that up to 1.5 million landlords in this sector may be…Read More