Tax relief is allowed on interest paid on mortgages/loans taken out to finance the purchase of assets held within a business. Landlords who own two or more properties ... Continue Reading
The rules of the ‘Rent-A-Room’ relief scheme enable the landlord to prepare the usual income and expenditure accounts and then compare the actual expenses ... Continue Reading
Where the Annual Investment Allowance (AIA) is not claimed or not available because the limit has already been reached, tax relief is given on the purchase of capital ... Continue Reading
Legislation does not define exactly what constitutes a ‘residence’ but in the tax case of Batey v Wakefield (1981) it was decided that not only can the ... Continue Reading
On the transfer of property into a trust, the original owner of the property (the ‘settlor’) is treated as having gifted the property to the trust at ... Continue Reading
Work carried out to an existing or newly acquired property resulting in the property being improved or altered is deemed to be a capital expense, which is deductible ... Continue Reading
Capital allowances available on assets purchased for use in a property business need not be claimed in full; the amount can be restricted by choice. The amount of ... Continue Reading
Stamp duty land tax (SDLT) is potentially chargeable whenever a transaction involving land takes place, however effected, unless there is a relief or exemption. ... Continue Reading
Income tax relief is available on a loan taken out to release capital in a rented property that is subsequently used to purchase another property or even to reduce ... Continue Reading
The operation of a furnished holiday let (FHL) is deemed to be a business and not a property income investment. As such the usual business income and expenditure ... Continue Reading
