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
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
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
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
Buying a property can sometimes be tricky, but there are ways to make your offer shine, whether it’s straightforward or involves negotiations or sealed bids. Here are some tips to help you secure your dream home: Getting Ready to Make an Offer Before making an offer, ensure your paperwork is in order. You’ll need to…Read More
Here are five reasons why investing in buy-to-let property in 2024 could be a smart move. Despite recent price drops, experts project that property prices will rise in the upcoming years. This presents an opportunity for investors to capitalise on potential capital appreciation, especially if they enter the market during a period of discounted prices.…Read More
As a newly VAT registered business you may find yourself asking, “When is my VAT due?” Understanding your VAT due date is essential to ensure compliance with HMRC regulations and avoid penalties. This post can provide some clarity on VAT due dates and offer tips to help you manage your VAT obligations effectively. VAT Due…Read More
Stamp Duty Land Tax is a tax you will need to pay if you buy property or land over a certain price in the UK. How much SDLT tax you will need to pay will vary due to a few factors such as: Stamp Duty Land Tax rates as of present, up to the 31st…Read More
Beware of little expenses; a small leak will sink a great ship.
Benjamin Franklin
