The Impact of the Furnished Holiday Lettings (FHL) Regime Repeal

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

10 Ways PJCO Accountants Can Help Boost Your Business

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

Private Residence Relief and Deemed Occupation: Understanding Capital Gains Tax

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

How Can Landlords Benefit from Filing Taxes Early?

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

Exploring Options to Tax Land and Buildings

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

Review of Receipt Management Apps: Dext, Apron, and QuickBooks’ Receipt Snap 

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

Making Your Offer Stand Out When Buying a Property.

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

Investing in Buy-to-Let Property in 2024: Five Compelling Reasons

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

When is VAT due?

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

Exploring Joint Ownership: Joint tenant v’s Tenants in common

If you buy, purchase, or inherit property with another individual, you must decide how you want to ‘hold’ the property together. Under UK law you can become a joint owner as either ‘joint tenants’ or ‘tenants in common’. The type of ownership you choose affects what you can do with the property if your relationship…Read More

What are consent to let mortgages?

What are consent to let mortgages? Consent to let mortgage is a formal, written agreement between you and your mortgage lender which gives you permission to rent out your home for a short period of time. It is the only legal way that you can rent out your house on a residential mortgage. It is…Read More

Can you Reduce Capital Gains Tax on your property?

Capital gains tax is the tax on any wealth (money/property) that is then used to make additional wealth or increase the value of that current wealth. For example, this could be through making capital improvements to your property to increase the value of this property. Everyone has an allowance of £6,000 annually that would enable…Read More

Unknown

Behind every good business is a great accountant.

Unknown