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
NRLS) requires that where there is no UK-based representative/agent, the rent being paid directly to a landlord who lives outside of the UK, the tenant must deduct ... Continue Reading
Inheritance tax is essentially a voluntary tax, in that with proper planning there is no need for your estate to pay any tax on your death. One of the most ... Continue Reading
The ‘wear and tear’ allowance can only be claimed on rental property let furnished when it includes such items as a cooker, fridge, sofa, etc. The ... Continue Reading
A property owned jointly or in partnership does not necessarily mean that the rental profit or loss must be allocated in the same proportion as the underlying ... Continue Reading
The beneficiary of a trust can live in a property held within a trust as their main residence and on the future disposal of the property Principal Private Residence ... Continue Reading
‘Value shifting’ occurs when the value of a property is altered as a result of passing an interest in the property to another. Anti-avoidance ... Continue Reading
There is an exemption for inheritance tax purposes in addition to the £3,000 annual allowance for gifts made out of income on a regular basis. It is important ... Continue Reading
Beneficiaries under a deceased’s will are deemed to inherit the assets at their market value at the date of death. However, if a property is sold within ... Continue Reading
A ‘Mesher’ order is a court order that postpones the sale of the marital home, the actual date of sale being dependent upon certain specified events. If ... Continue Reading
