15 Aug 2019 | Firm News, Personal Tax Planning, Property Services
With effect from 6 April 2020, the Principal Private Residence (PPR) extension has been reduced from 18 months to just 9 months (oh for the halcyon days when it was a full 36 months). Rental Properties A second measure being introduced is the restriction in the...
22 Jul 2019 | Firm News, Personal Tax Planning, Property Services
Following on from Lucy Orrow’s article on “Incorporating your Rental Business”, I thought I would share some common misconceptions that are made by clients when discussing the subject of Renral Income from Residential Property. I don’t need to declare my rental income...
18 Jul 2019 | Client Case Study, Firm News, Personal Tax Planning, Property Services
The Statutory Residence Test has been around since 2013 and has given a proper basis for determining residence status. Our client left the UK in 2012 and subsequently made a large capital gain on the disposal of shares in a unlisted trading company. This was not...
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...
