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Sold a property? You may need to tell HMRC

For UK residential property sales that took place on or after 27th October 2021, an individual now has 60 days from the date of completion to deal with any Capital Gains Tax compliance.

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Who needs to file a tax return?

Self-Assessment is the system that was created by HM Revenue & Customs (HMRC) to ensure the correct amount of tax is collected for a tax year. You should therefore check each year whether you need to...

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How businesses, landlords and homeowners can cope with rising interest...

With the UK’s interest rates at a record high, what can business owners, landlords and homeowners do to deal with the impact?

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HMRC targets landlords for undeclared income tax

HM Revenue and Customs (HMRC) has accelerated its focus on undeclared income tax from buy-to-let landlords, with an 83% rise in cases during the 2022/23 tax year.

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Tax and rule changes holiday home owners need to know

Holiday home owners need to be aware of several rule changes which could impact them. We look at the four main changes you need to be aware of:.

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Your guide to landlord tax and allowable expenses

Landlords who own residential property need to be aware of their tax reporting requirements throughout ownership.

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Buy-to-let landlord incorporations on the rise

Many landlords are now considering their options and looking at how they operate their portfolios due to challenging market conditions and a less favourable tax regime.

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Council tax for second and empty homes under the microscope in Scotlan...

Proposals to increase the level of council tax due on empty and second homes in Scotland are under consultation, in a move which could impact second home owners.

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How much is tax on rental income?

In this article, we will cover the basics of rental income tax, how much tax you’ll pay and what you can claim back from the Government.

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The Growth Plan: How it affects the property market

The Government’s Growth Plan included a string of significant tax measures that are already having a significant impact on landlords, and the UK property market as a whole.

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5 things landlords need to know

Being a landlord can be difficult and it’s important to prioritise what you need to know. This short guide to help you on your way, whether being a landlord is new to you or you’d just like a refreshe...

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Do you need to complete a self-assessment tax return?

Although not everybody needs to complete a self-assessment tax return, there are several situations where you could be required to complete one, even when you are an employee and have tax deducted fro...

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HMRC continues to scrutinise landlord records to identify undeclared r...

Latest figures reveal that 42% fewer landlords voluntarily disclosed unpaid tax to HMRC.

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Late filing penalties for capital gains tax mount up

The 30-day window for capital gains declarations has only applied since 6th April 2020, however HMRC has already filed £1.31m worth of late filing penalties for undeclared income from UK asset disposa...

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An update for property landlords

In this free webinar, we provide an update on tax and related planning points for landlords.

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Five bookkeeping tips for buy to let landlords

Whether you let out one or multiple residential or commercial properties, it’s vital that you maintain accurate and up-to-date records of your income and expenses to comply with HMRC requirements.

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Airbnb host earnings now received by HMRC

HM Revenue and Customs (HMRC) now has access to the income of Airbnb hosts, highlighting the importance of landlords being transparent about their taxable lettings income.

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New funding schemes help landlords and homeowners become more energy e...

A series of new grants and funding schemes across the UK are available to landlords and homeowners to help cover the cost of improvements including insulation, double glazing and other energy efficien...

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Commercial tenants protected from evictions until 2021

Small businesses struggling to pay their commercial rent are to be protected from the threat of eviction from their commercial premises until the end of 2020.

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Chancellor reassures MPs over the prospect of tax rises

Amid reports of potential ‘historic’ tax grabs, Chancellor Rishi Sunak has moved to reassure Conservative MPs that a “horror show of tax rises with no end in sight” is not on the cards, despite having...

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Government confirms details about its Green Homes Grant scheme

The Government has confirmed more information about its £2bn Green Homes Grant Scheme which will help the construction industry by funding homes improvements in England

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Fewer landlords declared underpaid tax to HMRC last year but a fresh c...

The number of buy-to-let landlords who declared underpaid or avoided income tax in 2019/20 more than halved compared to the previous year.

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Tax and Accountancy Considerations for Landlords

In this free webinar we'll be focusing on landlords. We will be covering everything you need to consider when paying tax and keeping records as a property landlord, including our top tax saving tips.

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Temporary cut to the Land Transaction Tax in Wales

The Welsh Government announced on the 14th July a temporary increase to the nil rate band of Land Transaction Tax for residential property transactions in Wales.

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Temporary cuts to Land and Buildings Transaction Tax in Scotland

The Scottish Government has followed suit with the UK Government by announcing a temporary cut to the country’s Land and Buildings Transaction Tax in a bid to stimulate Scotland’s housing market.

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Green Homes Grant unveiled in Summer Economic Statement

In a ‘win win’ move for homeowners and local businesses in England, Sunak also announced a new Green Homes Grant which will apply from September.

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Stamp duty cut announced in Summer Economic Update

In the Summer Economic Update the Government announced a temporary change to the stamp duty rules in England and Northern Ireland, which will mean anyone purchasing a main home for under £500,000 will...

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Mortgage payment holiday set to be extended

Mortgage payment holidays were due to cease at the end of October, however the Government has now announced that these will be extended.

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Changes to landlord Capital Gains Tax rules

Changes in relation to Principal Private Residence (PPR) and letting relief were introduced on 6th April 2020.

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Guidance for furnished holiday lets affected by the COVID-19 outbreak

A number of tax changes over the years have led to a number of landlords abandoning traditional long term letting of their properties. As an alternative, some landlords have instead looked at the holi...

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Guidance for landlords affected by the COVID-19 outbreak

Landlords should be aware of several changes introduced by the Government in relation to the COVID-19 pandemic.

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Capital gains tax for landlords could rise by thousands overnight

The Association of Taxation Technicians has warned property landlords of a potential overhaul of letting relief rules, which could result in bigger capital gains tax bills when they sell their propert...

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The tax advantages of classing your property as a Furnished Holiday Le...

Those whose rental properties are in areas with a demand for holiday accommodation may find that a furnished Holiday Let is a more tax efficient alternative to buy-to-let properties.

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Let Property Campaign still targeting landlord income

Let Property Campaign still targeting landlord income

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HMRC forces letting agents to reveal landlords details

An update on the Let Property Campaign and letting agents being forced to disclose information on landlords.

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Read our expert answers to your Landlords questions

Can I claim mortgage interest as a deduction on my rental property acc...

I have a portfolio of four rental properties and I want to ensure that I am claiming all relevant expenses against the income. I am a little confused over the changes to the claim of mortgage interest...

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Are furnished holiday lets treated differently to standard let propert...

I am considering purchasing a rental property as an investment and have heard Furnished Holiday Lets are treated differently for tax compared to a standard let property. Can you explain some of these...

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Do I have to file my Capital Gains Tax report in 30 or 60 days?

I have just sold a property in the UK and am unsure if I have to file a Capital Gains Tax report within 30 or 60 days?

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I have been renting out a house for several years but have never told...

How should I declare this unreported income from renting my property to HMRC?

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I have sold a residential property but why do I have to report this to...

The last time I sold a residential property, it was almost two years before I needed to report the sale to HMRC and pay the capital gains tax. Why the urgency this time?

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How to report rental property to HMRC if you live outside the UK

I will be leaving the UK to work abroad and will be renting my UK property out, while I’m away. How do I report the rental income to HMRC?

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Can I use the property allowance on rent I receive from my company?

I own/control a limited company that I charge rent to for a property that I own personally, can I use the property allowance against it on my self-assessment tax return?

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Renting out my home on Air BnB

I’m thinking about renting out my home on Air BnB whilst we’re on holiday. Will we have to pay tax on the rent we receive?

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Tax when you sell your home

We are selling a property that used to be our family home but has been let out for the past few years. What tax could we face?

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Gifting a property to your children

I would like to sell a property to my son and his wife for half its value. Are there any tax implications if I sell a property for less than its worth to my son?    

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Property losses - do I need a tax return?

I have a Buy to Let property, but because of the size of the mortgage, I do not make any profit from it. I am employed and have never submitted a tax return before- do I need to now?

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Non Resident Landlord Scheme

I emigrated to Australia last year, and began to rent my home in the UK. I decided to rent this property to a friend, and as such will not be engaging a letting agent. My friend will be paying the ren...

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Non Residents & UK Property Income

I recently emigrated to Spain but still own a house in the UK which I am renting out. Are there any UK tax implications of which I should be aware?

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