Blog

Stamp Duty Land Tax (SDLT) is a tax on property or land purchased over a certain price in England and Northen Ireland. Currently the thresholds up to 31st March 2025 are: These thresholds are then taxed at different rates depending on the value of the property/land regardless of the purpose of the purchase. Since the…Read More

The recent Autumn Budget has introduced notable adjustments to Capital Gains Tax (CGT) rates, set to affect taxpayers for the current tax year and beyond. These changes may have significant financial implications, especially for property investors and landlords, as they prepare for their tax liabilities by January 2026. Changes to Capital Gains Tax Rates Before…Read More

Letting agents typically deduct their fees directly from your rental income and deposit the net amount into your bank account. Here’s a quick guide on how to handle these transactions in QuickBooks Online. You will then see the net amount reflected in your bank account, and you’ll need to select the option to Split the…Read More

The trading allowance offers a streamlined tax option for those earning smaller amounts through side income or property rentals. For individuals with “miscellaneous” self-employment income or limited rental earnings, this allowance can reduce the need for formal registration as self-employed with HMRC and simplify tax filing. Here’s a closer look at how the trading allowance…Read More

The recently released Autumn Budget presents the Labour government’s economic outlook and policy plans for the next five years, with significant updates affecting property owners and investors. Here’s what landlords need to know. 1. Increase in the Stamp Duty Land Tax (SDLT) Surcharge One of the major announcements in the budget is the increase in…Read More

In this year’s Spring Budget, the government announced the repeal of the Furnished Holiday Lettings (FHL) regime, which will take effect on April 6th, 2025. While many are aware of the impending change, the full implications on businesses operating under the FHL regime might not be as well understood. This transition will significantly alter how…Read More

If you’re married and thinking of buying a property, there’s an important tax consideration you might not be aware of: for the purposes of Stamp Duty Land Tax (SDLT), you and your spouse are treated as one entity. This means that any property-related tax relief your spouse has taken advantage of could affect you as…Read More

SPVs or Special Purpose Vehicles are companies that are set up for the sole purpose of purchasing, holding or letting out properties and nothing else. So, if you are a landlord who is looking to set up a limited company for tax purposes, it might be a preferable option to setting up a trading company.…Read More

Starting a small business is an exciting venture, but it often comes with financial challenges, especially if you are on a tight budget. Many small and micro business owners under-estimate the amount of money they need to invest in the business at start up and consequently the business never gets going to its full potential.…Read More

At PJCO Accountants, we understand that our success is directly tied to yours. That’s why we continually develop and train our ACCA-qualified accountants to deliver exceptional business, accounting, and tax services. Here’s how we can enhance your business: 1. Strategic Financial Planning We create detailed financial plans aligned with your business goals, guiding you through…Read More

Capital Gains Tax (CGT) can often be a significant consideration for property owners upon disposal of their assets. However, certain reliefs, such as Principal Private Residence (PPR) relief, can significantly reduce or eliminate the CGT liability, particularly when the property has been used as a primary residence throughout ownership. Principal Private Residence Relief Explained PPR…Read More

As a landlord, managing your finances effectively is crucial to the success and growth of your property investments. One key aspect of this is filing your self-assessment tax returns on time. The official deadline for the year ending 5th April 2024 is the 31st of January 2025. However, there are many compelling reasons to consider…Read More

Understanding VAT Exemptions and Options When it comes to property rentals, VAT (Value Added Tax) can be a bit of a complex topic. Typically, properties rented out are exempt from VAT. This exemption means that landlords cannot charge VAT to their tenants. Consequently, landlords also cannot reclaim any VAT incurred on their expenses related to…Read More

If you have acquired a property from an estate and you are classed as a Property Trader you may be eligible to be exempt from SDLT, subject to a few relevant conditions. To be classed as a Property Trader you can be a company or a limited liability partnership and be in the business of…Read More

If you are currently letting out a FHL under the current scheme for this year you may be aware that in the 2024 Budget, the chancellor announced that from April 2025, the FHL tax regime would be abolished. This may raise concerns for those of you who are worried about the impact of reduced tax…Read More