Residential property gains are a critical consideration for landlords, especially when selling buy-to-let properties or inherited estates. Understanding the tax implications and reporting requirements is essential to avoid penalties. Planning is vital, as it ensures compliance with HMRC guidelines and minimises tax liabilities. Residential property gains refer to the profit made when selling or disposing…Read More
When tenants leave a rental property, landlords often face questions about covering property expenses and whether tax relief can be claimed on costs incurred during the vacancy period. Understanding the tax implications of such situations is essential for maintaining profitability and compliance. Claiming Tax Relief on Expenses for Vacant Properties If your property is temporarily…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
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
I have no use for bodyguards, but I have very specific use for two highly trained certified public accountants.
Elvis Presley
