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I have a question about jointly owned property rental income. My husband and I jointly own a rental property, the income of which we declare 50:50 on our Tax Returns. I have been promoted and... read more
Changes to private residence relief (PRR) which have already been announced are planned to come into effect next year.
You should be aware that if you rent out all or part of your home this may... read more
How can you reduce the SDLT and income tax you pay on jointly owned property rental income?
If you own a property jointly with your spouse - one of you being a higher-rate taxpayer and the... read more
Tax on a holiday let property is different from a standard property let and it is important to be aware of the issues:
There are a number of tax incentives that you can take advantage... read more
Expenses you can set-off against property rental income will need to follow the usual HMRC ruling that the costs must be incurred wholly and exclusively for the purpose of renting out the property.
An example set out... read more
Automatic tax relief when you sell your home?
It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital... read more
Any taxpayer is allowed to make tax-free capital gains of £11,700 during the 2018-19 tax year. There are also a number of circumstances when a disposal does not create a taxable gain. These include:
The sale... read more
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