If you used to reside in the house but opted to rent it out later, you certainly experienced letting relief. However, many homeowners continue to believe that they can automatically claim letting relief when they sell their house. That is no longer the case because...
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...
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...
Many buyers still misunderstand how Stamp Duty works, often assuming it is the seller’s responsibility. In reality, stamp duty is a cost that falls squarely on the buyer and, if not planned for properly, it can significantly increase the overall cost of a property...
One of the common questions property owners are always asked is if it is possible to transfer a personal property portfolio into a limited company. Because it is getting popular with landlords. If that's you, you are in the right spot. Let's talk about how it's done...
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