As of 6th February 2025, the Bank of England announced a reduction in the base interest rate from 4.75% to 4.5%. This 0.25% decrease has sparked discussions among industry experts, with many speculating that further cuts may be on the horizon throughout the year. If this trend continues, it could significantly enhance affordability in the…Read More
In the UK, married couples receive special tax treatment, and as a result, understanding these rules can give newlyweds a head start in building a stable financial foundation for the future. For example, when it comes to income tax on rental properties, some of you may be aware that if a married couple jointly owns…Read More
With the 2025/26 tax year looming and the greatest changes to Pay As You Earn (PAYE) seen in a number of years, PJCO has put together this handy guide to help you and your company achieve the most tax efficient salary solutions. Director Only Payroll (One Director) If you are a single director on your…Read More
In the Autumn Budget, Rachel Reeves announced changes to the Stamp Duty Land Tax (SDLT) thresholds, which come into effect from the 1st April 2025. These changes, combined with the new SDLT rate for property investors and limited companies, can have a significant impact on property investors during one of the busiest periods for the…Read More
Planning ahead is vital for the success of any property business, as this will allow you to grasp opportunities as they arise. Many landlords will have now heard about the upcoming changes to income tax reporting in the form of Making Tax Digital (MTD) for income tax. For many landlords, the thought of an increase…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 recent adjustments to Stamp Duty Land Tax (SDLT) announced in the Labour budget on October 30, 2024, have brought significant implications for property investors. If you’re looking to make a residential property purchase, it’s important to consider how these changes may affect your return on investment (ROI). In a previous blog, we outlined the…Read More
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
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
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
Never call an accountant a credit to his profession; a good accountant is a debit to his profession.
Charles Lyell
