In the UK, it is standard practice to transfer assets to the next generation as gifts in order to avoid future Inheritance Tax payment. But there is one critical error that many families make when planning their inheritance, which is the gift with reservation of...
Building money is one thing, but preserving it for future generations is quite another. In an era where the government is constantly changing its inheritance tax rules and raising personal income tax rates, many individuals have begun to examine more advanced means of...
Tax planning for commercial property owners tends to be focused on issues related to mortgage interest, rental profits and corporation tax. However, one of the most frequently missed areas of opportunity is capital allowances on commercial properties. Thousands of...
Limited Company ownership is quickly becoming common in the UK property market, more specifically, SPV (Special Purpose Vehicle) ownership for property purchases. Many property owners/investors now purchase buy-to-let properties through an SPV company to enhance their...
It is very important for anyone investing in property, whether a landlord or running a business, to understand what the implications of stamp duty will be when purchasing property via a limited company structure. Although there can be tax benefits with a limited...
The transformation of the UK Tax System is happening through a digital process. A key part of this is Making Tax Digital for Landlords (MTD), which has been put in place as part of the reform. All landlords who receive their income through rent must use a digital...
The Let Property Campaign from HMRC has been around for years, providing landlords with an opportunity to report any rental income that was not declared at the time they filed their annual tax return. This initiative has been running for over a decade since its launch...
When purchasing a second home for either investment, rental, or personal use, it is usually a sound financial investment. When you sell a second home for a capital gain, there is a very high probability that you will have a capital gains tax on the profit you made...
In the UK property market, it is common for a buyer to incur Stamp Duty Land Tax (SDLT) charges related to the value of their acquired home and personal circumstances. However, some situations can result in incorrect payments of SDLT and allow buyers to claim back...
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