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. […]

Common issues with VAT and Property

VAT Partner, Sandy Cochrane, has created a comprehensive video addressing common issues associated with VAT and Property. The intricacies of VAT in land and property transactions are complex, so it is important to understand the nuances. Accurate reporting of VAT is imperative to prevent potential penalties from HMRC. Historically, VAT has been considered a ‘support […]

Should I incorporate my buy to let property business?

Written by Tax Partner, Michaela Lamb Since the announcement made in the 2015 Summer Budget introducing a restriction on the tax relief provided on mortgage interest for individuals, the most common question we have been asked is “Should I incorporate my Buy to Let Property Business?”. Translated this is simply, “should I put my property […]

Stamp Duty Land Tax (SDLT) – A Beginner’s Guide

What is SDLT? SDLT is a capital tax payable by the purchaser of both freehold and leasehold interests in property and land situated in England or Northern Ireland. It is calculated by reference to a percentage(s) of the chargeable consideration. This would usually be the property’s purchase price though it can also include the release […]