9 Jul 2019 | Firm News, Personal Tax Planning, Property Services
With the introduction and growing restriction of the Mortgage Interest Relief for personal rental businesses, many individuals are considering incorporating. Although there are tax savings to be had by holding rental property in a limited company, it may not be a...
6 Mar 2019 | Firm News, Personal Tax Planning, Personal Tax Planning Guide, Property Services, Property Services Guide
4 Options Available: Giving a gift of cash Buying a property together Setting up a trust Buying through a company Giving a Gift of Cash You can make a gift to your child which if unconditional, is free from tax at the point of transfer. This will allow your child to...
4 Jan 2019 | Firm News, Property Services
HMRC have been waging a successful campaign against landlords (many of them accidental) who have failed to disclose their income. It is easier for HMRC to cross check with land registry to identify landlords who are not disclosing their rental income. In addition...
18 Oct 2018 | Firm News, Personal Tax Planning, Property Services
There has been a recent case going through the courts where Mr Higgins purchased an apartment in 2004 and paid a holding deposit but issues relating to the title prevented construction from starting. Mr Higgins did not therefore move into the apartment until January...
6 Aug 2018 | Firm News, Personal Tax Planning, Property Services
You may have heard talk of the restrictions being imposed on landlords for finance costs incurred from April 2017, but do you really understand the new rules? Here at Lambert Chapman LLP, our clients continue to send details of the full amount of mortgage interest...
18 May 2018 | Firm News, Personal Tax Planning, Property Services
There have been quite a few changes to the taxation of rental income and rental properties in the past few years – removal of “Wear & Tear” allowance, restriction of relief for loan interest, increased exposure to Stamp Duty Land Tax, extra Capital Gains Tax. And...
