Latest Blogs in Property
Amanda Newman
17th April 2024 Buy To Let through a Limited Company

There continues to be an ongoing debate when buying a residential property to let out about whether to buy this personally or set up a limited company to own it. Unlike our sole trader v limited company comparisons for a trading business there is not a clear division based on profits. There are a lot…

Sarah Lockhart-White
2nd April 2024 ATED Reminder – Deadline 30/4/24

Annual Tax on Enveloped Dwellings (ATED) is an annual tax charge payable by companies, partnerships (with at least one corporate partner) and certain collective investment schemes that own UK Residential properties exceeding £500,000.   The annual chargeable period starts on 1 April each year and both a return should be submitted online to HMRC and…

Byron Roberts
26th March 2024 Making Tax Digital for Income Tax coming soon

Making Tax Digital for Income Tax will soon be upon us.   Over the past few years’ rents have been increasing and will continue to increase as inflation remains high. Many landlords will now be affected or will be coming close to the qualifying limits. With April 2026 fast approaching for those with qualifying income…

Harriet Sim
25th March 2024 The end of Furnished Holiday Lettings

The recent Budget announcements will bring an end to the tax advantages afforded to the owners of Furnished Holiday Lettings (FHL) and set them apart from the owners of normal residential properties.   At present, qualifying FHL’s provide a number of tax advantages: Unrestricted tax relief for mortgage interest Entitlement to claim capital allowances, including…

Shamus Chaplin
21st March 2024 Removal of Multiple Dwellings Relief for SDLT

On 6th March 2024, the abolition of the Stamp Duty Land Tax (SDLT) relief known as Multiple Dwellings Relief (MDR) was announced. The Reasoning HMRC’s tax reliefs evaluation programme has determined that MDR has not satisfied its original objectives. They have concluded that there have been numerous cases where the relief has been abused and…

Daniel Walker
20th March 2024 Rental Losses

What happens if your rental or Furnished Holiday Let (FHL) business makes a loss in the tax year and how can you use these losses to save tax.   For a business to make a taxable loss, the taxable expenses will be higher than the taxable income. These losses can be used in a few…

Harriet Sim
7th March 2024 Spring Budget 2024: For Individuals

Let’s look at the 2024 Spring Budget for individuals. With the next general election on the horizon, Jeremy Hunt had no choice but to deliver an impactful Budget. Here is a summary of the main changes affecting individuals:   Class 1 National Insurance A fresh cut to primary Class 1 National Insurance contributions for employees from…

Nick Edgley
26th February 2024 Short Term Lets and Airbnb: Planning Permission

Thinking of offering your property for short term lets? Planning permission may be required.   What’s Changing? From this summer the Government will introduce legislation to require owners of new short term lets in England to secure planning permission to use their properties for this purpose. You will need to be aware of this requirement…

Mike Blackledge
7th February 2024 Selling Your Garden: Tax Implications

Thinking of selling your garden? Then make sure you read this…   You may be thinking of selling off some surplus land to a developer. If this is part of your garden, you might be thinking it’s tax free because it’s attached to your home. However, before you agree any sale, it’s important to understand…

Nick Edgley
26th January 2024 Capital Gains Tax: Private Residence Relief – Burden of Proof

The recent First Tier Tribunal case of Patwary (https://caselaw.nationalarchives.gov.uk/ukftt/tc/2024/53) considered the burden of proof that a property was a only/main residence for tax relief purposes.   The availability of Private Residence Relief (PRR) available on your only/main residence is one of the most valuable Capital Gains Tax (CGT) tax relief’s available.   PRR will exempt…