Tax relief is available when an asset is lost, destroyed or becomes of negligible value – this is possible, for example, when a Buy To Let property is purchased ... Continue Reading
The Business Premises Renovation Allowance (BPRA) allows 100% capital allowances to be claimed on the cost of conversion of derelict or unused business premises ... Continue Reading
A premium is a sum paid by a tenant to a landlord either on the creation or surrender of an interest in a property. Surrender premiums payable ... Continue Reading
A premium is a sum paid by a tenant to a landlord either on the creation or surrender of an interest in a property. Surrender premiums payable to ... Continue Reading
As well as there being the ‘intention’ to occupy there must be a degree of permanence in order for Principal Private Residence relief (PPR) to be allowed, ... Continue Reading
The ‘wear and tear’ allowance can only be claimed on rental property let as fully furnished. This means when it includes such items as a cooker, fridge, ... Continue Reading
When deciding whether a property should be given PPR status HMRC look as to whether the owner had any intention of living in the property. It is a matter of fact ... Continue Reading
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
Private residential landlords can claim an immediate 100% allowance of up to £1,500 per dwelling per tax year, when improvements to the energy efficiency of ... Continue Reading
Capital gains tax (CGT) is charged on the net gains (proceeds less cost) made on the sale of assets by individuals, personal representatives and trustees. Companies ... Continue Reading
