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
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
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
The official deadline for filing your self-assessment tax returns for the year ending 5th April 2024 is the 31st of January 2025. However, there are many reasons to consider filing your taxes months before this date. First, understanding your tax liability early in the year can give you a clear picture of your profit for…Read More
Dext, Apron, and QuickBooks’ Receipt Snap each have unique strengths and weaknesses, making them suitable for different types of businesses. Dext Dext integrates seamlessly with Xero and QuickBooks, offering a comprehensive suite of products tailored for various clients and businesses. QuickBooks’ Receipt Snap Receipt Snap is a straightforward tool primarily suited for smaller companies or…Read More
Style Your Space Choose your décor style either sleek and modern or bold and colourful—and stick with it. Make Your Listing Pop Write a catchy title and description that showcases what makes your place special. Show it Off Take great photos that highlight your space’s best features. Price Wisely Set competitive rates that attract guests…Read More
Never call an accountant a credit to his profession; a good accountant is a debit to his profession.
Charles Lyell
