EIS schemes offer tax relief on contributions at 30% and a tax deferral on gains. EIS investments are generally high risk and invest in a single company.Note – ... Continue Reading
Many people are not aware that you can claim expenses incurred in the seven years before commencement of trading against your first year’s trading profits.The ... Continue Reading
If you rent out a property, which was at one time your PPR, you will qualify for the lettings relief.This can be worth up to £40,000 against the gain realised ... Continue Reading
Where you have more than one property it is possible to choose which one is your PPR at any given time, provided the elected property is used as a home. However, ... Continue Reading
If you let a property furnished, it may be beneficial to delay spending money on replacing furnishings until on or after 6 April 2016. This is because 2015/16 is ... Continue Reading
Joint ownership exists where two or more persons own property that is let. The individuals are taxed on their share of the annual profits or gains made.Individuals ... Continue Reading
Under the ‘Non-Resident Landlord Scheme’ (NRLS) where the deductible expenses exceed rental income for any quarter the excess expenses are: carried ... Continue Reading
Unrepresented taxpayers frequently miss out on an additional valuable relief, which is the availability of a three-year carry-back for losses incurred in the opening ... Continue Reading
The ‘Non-Resident Landlords Scheme’ (NRLS) requires that where there is no UK-based representative/agent, the rent being paid directly to a landlord ... 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
