Budget plan to make accounting easier for landlords
Keeping accounts for a buy to let business could be a lot simpler if the Government adopts cash accounting for small businesses. Chancellor George Osborne announced in Budget 2012 that he was launching...
View ArticleLate filing landlords to pay £10 a day fines
HMRC is getting tougher with landlords who have ignored appeals to file their tax returns on time. From May 1st, late filers will have to pay £10 a day for up to 90 days on top of the £100 fine already...
View ArticleHow to save stamp duty buying a home
Here’s a timely warning for property people who believe the tax man is a friendly and benign helper. Gill Orsmann was buying a house and spent some time scrutinising the conveyancing documents drafted...
View ArticleCGT and divorce for buy to let landlords
Breaking up is hard to do – and that applies to a property portfolio as much as a marriage. Luckily, if buy to let landlords divorce, some special tax rules can help minimise the taxes involved in any...
View ArticleClaiming home as office expenses for landlords
Many landlords run a property business from a home office but are scared to claim business expenses because they are worried about triggering a capital gains tax bill when they move house. The myth is...
View ArticleWhen tenants ask how much is the Council Tax
Council Tax can be a deciding factor to some tenants. When you rent out a property, tenants often ask what the council tax band is. They also want to know much they will have to pay. There can be a big...
View ArticleFinancial Advice – how do you pick an adviser?
All landlords require financial advice from time to time, I’ve listed some of the many reasons below. My question to readers of Property118 though is how you select an adviser? Do you want to be able...
View ArticleBEWARE – there is no Capital Gains Tax Roll-Over on BuyToLet
Following an email I received from a reader yesterday I feel compelled to write an article warning landlords of the tax implications of selling their assets due to there being no capital gains tax...
View ArticleTaxation strategies for capital raising on a BuyToLet basis for retirement
It is quite rare for me to share taxation strategies here in full on my blog, especially taxation strategies for capital raising purposes which I’ve not used personally yet (but intend to). However,...
View ArticleTrading Company BuyToLet + Landlords Tax Strategy
It is not easy to arrange a BuyToLet mortgage for a trading company, the few lenders that do offer loans to limited companies usually insist that the company is a Single Purpose Vehicle, often referred...
View ArticleTax Treatment of Property Development vs Property Investment
With so many buy to let property investors now considering buy/refurb/sell deals I feel the time is right to explain the tax treatment of property development vs property investment. For example, did...
View ArticleExit plan – move in before selling up to avoid CGT
This weekend I received an email from Cissie asking “If I move into a buy to let property which has been let for several years, and sell it after 6 months or a year, can I avoid CGT ? “ It’s a very...
View ArticleProperty Tax Question – CGT roll-over relief
I have just received a property tax question from a lady called Barbara which I’m not sure of the answer. Therefore, I am publishing her email as an article to seek the opinion of other readers. I have...
View ArticleTax Status of Buy to Let Profits
I have just received an email from a gentleman called Kevyn Davies-Jones about the tax status of buy to let profits and felt compelled to share it with you. Feel free to join in with our rant. It’s...
View ArticleLandlords Exit Strategy – Readers CGT Question
“Hello Mark, very impressed with your site, I have a question for you: My wife and I have a small portfolio of property which has been built up over the years by keeping on our residences rather than...
View ArticleLandlords Tax Planning Strategy
“Milking the Buy-to-Let” is a Landlords Tax Planning Strategy which is very much under utilised. The strategy applies only to married couples and Civil Partnerships and is used to offset mortgage...
View ArticleTax return looms – Readers Question
We have received four questions from one of our readers as the final date for submission on-line of 2011-12 tax return looms asking: 1. Are NIC’s payable on rental profits accrued by an individual, i.e...
View ArticleCall for CGT roll-over relief to apply to Buy to Let landlords
It seems to me to be very unfair that one can sell almost any other business asset and reinvest the money without having to pay CGT but NOT a Buy to Let! Should we start a campaign for a legal change?!...
View ArticleCan landlords spread rental profits between spouses and minimise tax?
One of our readers has sent in the following email (dark blue text below) and is looking for ideas that other landlords have used to minimise tax by spreading rental profits between spouses. Mark...
View ArticleLandlords CGT Question
Laniora Lay has raised the following Landlords CGT Question:- “I have been renting out my former family home for the last three and a half years. Meanwhile I myself have been living in rented...
View Article
