Following the introduction of the tax relief restriction on finance charges for residential lettings, we often receive enquires asking “should I incorporate my property rental business?”. The restriction which has been introduced restricts the tax relief...
“STAMP DUTY HOLIDAY” the press reported following Chancellor of the Exchequer, Rishi Sunak’s announcement in July. What does this actually mean and who can benefit? We have already seen a significant increase in mortgage applications and property purchases by...
Currently where you purchase a new home prior to selling your existing home, you are required to pay the higher rate of Stamp Duty Land Tax on the new purchase. However on sale of the old property, you are, subject to the following rules, eligible to claim a refund...
As you will no doubt be aware, there have been changes introduced from 6 April 2020 which require reporting for tax purposes a lot earlier than normal. If you have made a taxable gain on a residential property, you are now required to report this to HMRC within 30...
Landlords and owners of second homes who have to pay Capital Gains Tax (CGT) on the sale of their additional property, now have to report and pay the tax within 30 days from 6 April 2020. Private Residence Relief allows people to sell their main residence without...
There is a lot of guesswork surrounding how the new digital reporting regime will work in respect of the capital gains relating to the sale of residential properties by UK residents. Having listened to the HMRC webinar recently on this very subject, I am now much...