The marriage allowance allows an individual to transfer 10% of his or her personal allowance (rounded up to the nearest £10) to his or her spouse or civil ... Continue Reading
The ‘pre-owned assets tax’ (POAT) is an income tax charge levied on the ‘benefit’ earned on any property that has been given away (or sold ... Continue Reading
As long as the initial election for principal private residence (PPR) relief has been made, it can then be varied (‘flipped’) as many times as desired ... Continue Reading
Funds can be made available to a director by making a loan from the company to the director. Although there are tax consequences of making loans, it is possible ... Continue Reading
Business asset disposal relief (BADR, previously known as entrepreneurs’ relief) provides relief against capital gains tax on qualifying gains made by an individual ... Continue Reading
A higher rate taxpayer landlord taxed at 40% (or 45% if an ‘additional rate’ taxpayer) may be able to achieve some benefit from the 19% lower small ... Continue Reading
Trader Or Investor? Anyone buying a property for rent on a long-term basis will probably bedeemed an investor by HMRC, whereas someone ... Continue Reading
Expenses may be incurred in the setting up of a letting business before the first rental is received (e.g., travel, phone, advertising, etc). Strictly, such expenses ... Continue Reading
When working out the profits or losses of your business, you can deduct any allowable expenses that you incur in running your business to arrive at the profit (or ... 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
