Individuals / April 24th 2019

Should I Convert my Buy-to-Let Property to a Furnished Holiday Let?

The last few years have seen a number of controversial changes to the UK tax system, and for buy-to-let landlords, the new legislation has proved particularly costly. Cuts to tax relief and hikes in stamp duty have seen profits from residential lettings dwindle, with some BTL landlords struggling to stay afloat. In light of

Whether you’re an experienced investor or a first-time landlord looking to dip your toe into the market for the very first time, VAT can be a complex and often confusing issue. In this article, we’ll look at some of the ways in which VAT can affect the sale, purchase price and rental income of commercial property and pr

In the autumn budget in October last year, the government announced fresh changes to the UK tax system, making good on their campaign promises to cut income tax rates and increase the personal allowance. The new legislation means millions of UK households will be better off, with basic-rate taxpayers recouping, on average,

Announced in the spring budget of 2015, Making Tax Digital (or MTD) is the government’s pioneering initiative to modernise the UK tax system. By introducing digital record keeping across the board, the programme is set to revolutionise the way we do our taxes, making the entire process simpler and more efficient. In this

January 31st is a tax advisers worst nightmare when it comes to filing deadlines. Many will understand that as the end of January draws in, working hours get longer and most new year’s resolutions regarding ‘eating healthier’ and ‘hitting the gym more often to get into shape’ soon go out the window due to the extr

Whether you’re a first-time landlord or an experienced investor, managing a rental property can be tricky, with all the same challenges and time constraints as any other business. To make life a little easier, we’ve compiled a list of handy tips to help you maximise your profits and streamline your operation. Get Organ

With the government at loggerheads over Theresa May’s withdrawal agreement, and whispers in Whitehall growing ever louder over the possibility of a no-deal Brexit, the UK, at least in the short term, is facing an uncertain future. Whether you’re an ardent Remainer or a die-hard Brexiteer, the fact remains that our immin

In April this year, the government introduced significant changes to income tax rates, allowing millions of UK taxpayers to keep more of their hard-earned cash. And, in 2018, the average taxpayer is shelling out approximately £1,000 less in tax than they were six or seven years ago. However, once you move into the higher-r

In recent years, HMRC have used a number of campaigns and amnesties to target particular groups of taxpayers.  Usually for a defined period of time, taxpayers who fall within that group have a period of time to come forward to rectify their tax affairs and deal with any undeclared or under-declared income or gains.  Durin

Tax Deductible Expenses for Landlords When you let out a property, there will be inevitable items of expenses which are incurred. It is important to understand / know which of these items will be deductible against your rental income for the purpose of UK taxation. Below is a table of those which can and cannot be ded