What to do if you’ve received a letter about ATED
03/03/2025 Written by Tax Partner, Nikhil Oza If you’ve received a letter from HMRC about the Annual Tax on Enveloped Dwellings (ATED), you might be wondering what it means and what action you need to take. ATED applies to companies, partnerships with corporate members, and certain collective investment schemes that own UK residential property worth […]
Stamp Duty Land Tax (SDLT): Where are we now?
03/02/2025 Written by Tax Consultant, Tim Palmer The higher rates of SDLT relating to the purchase of second homes and rental properties were increased from 3% to 5% from 31st October 2024. Table of Contents Normal mainstream SDLT rates re purchasing residential property from 31st October 2024 Property Cost SDLT Rate Up to £250,000 […]
The role of audits in the property sector
22/01/2025 The property sector operates within a highly complex and regulated environment. With large financial transactions, intricate ownership structures, and stringent compliance requirements, audits play a critical role in maintaining transparency, ensuring accuracy, and fostering trust among stakeholders. Here, our audit team explores the significance of audits for the property industry and highlights how they […]
Interest Restrictions for Private Landlords
Written by Tax Partner, Michaela Lamb Although the amount of mortgage interest relief available to non-corporate landlords on residential property has been restricted since 2017 (firstly with a 3-year phased-in period, then fully since 6 April 2020), many landlords are reaching the end of low-interest rate fixed deals, and previously excluded Furnished Holiday Let (FHL) […]
Abolition of Furnished Holiday Lettings (FHL) Tax Regime
Written by Tax Partner, Michaela Lamb Ahead of the new Chancellor’s Budget, planned for 20 October 2024, a number of publications have been released setting out changes which will be brought into force on 5 April 2025. The previous Government had already announced that the Furnished Holiday Lettings (FHL) rules would be abolished, but surprisingly […]
Webinar recording: MBOs, MBIs & EOTs: The benefits, pitfalls and choosing the right route to succession
Choosing the right succession planning route is an area that all business owners think about regularly, throughout the business lifecycle; it is never too early, but can sometimes be too late to plan for exit efficiently. In reality, it’s not just business owners and board members who lie awake at night considering the options, it’s […]
WEBINAR RECORDING: UK Landlords: Where Are We Now?
On Wednesday, 30 October 2024, Tim Palmer, our Tax Consultant, hosted a webinar entitled ‘UK Landlords: Where Are We Now?’. During this session, Tim covered: Latest tax news and developments relating to UK individual landlords The current CGT position and planning relating to such landlords The expenditure which can be claimed for income tax purposes […]
Multiple Dwellings Relief (MDR) to be abolished
Written by Tax Partner, Thomas Adcock The Stamp Duty Land Tax (SDLT) relief know as Multiple Dwellings Relief (MDR) will be removed for completions taking place after 1 June 2024. Currently, where multiple properties are purchased at the same time, MDR applies to reduce the rate of SDLT payable. Property transactions with contracts which […]
Personal landlords: The Capital Gains Tax (CGT) regime
Written by Gravita Tax Consultant, Tim Palmer Individual landlords renting out residential property have to comply with a very stringent tax regime at present. Gravita’s Tax Consultant, Tim Palmer, reviews the position. They have to disallow their buy to let loan interest for higher rate income tax purposes. They can only claim relief when […]
Landlords – Some practical tax tips
Written by Gravita Tax Consultant, Tim Palmer UK individual landlords have a lot of penal tax legislation directed towards them. I have specialised in the taxation of such landlords for many years now. Accordingly, I am going to list out reminders of some of the tax issues and requirements, together with any planning opportunities available. […]