Blog

Archive for the "Properties" Category

commercial building

New Capital Allowance for Commercial Buildings

11th January | Posted in: Agricultural, Business Tax, Planning, Properties

A new 2% straight line tax deduction for the cost of construction or renovation of commercial buildings and structures was announced in the autumn 2018 Budget. HMRC have now issued a technical note se...

Capital gains tax – Principal private residence relief (PPR) ch...

28th November | Posted in: Personal Tax, Properties, Property Investment

Changes to Principal private residence relief (PPR) will take effect from April 2020: The final period exemption allowing PPR For the last 18 months of ownership, provided that the property was a prin...

New structures and buildings capital allowance for commercial bui...

27th November | Posted in: Agricultural, Allowances, Business Tax, Planning, Properties, Property Investment

A new 2% straight line tax deduction, the structures and buildings allowance, has been introduced for the cost of construction or renovation of commercial buildings and structures. This tax break will...

rent a room relief

Rules for “Rent A Room” relief to be tightened up fro...

28th August | Posted in: Company News, Government Announcements, PAYE & NI, Pensions, Savings & Investments, Properties, Property Investment

HMRC propose to restrict the availability of “rent a room” relief to situations where the taxpayer is living in the let property for at least some of the time that the accommodation is let. Hence ...

rental income

Not declaring your rental income? It’s time to come clean!...

23rd July | Posted in: Properties, Property Investment, Regulations

If you are a landlord and make a full disclosure to HMRC through Self-Assessment then relax, you’ve nothing to worry about.  However, if you are a landlord and have not been declaring your rental i...

holiday lets

Landlords! Should you switch to short-term holiday lets?

13th July | Posted in: Pensions, Savings & Investments, Properties, Property Investment, Regulations, VAT

Over the past few years the UK government have removed some of the generous tax breaks available to buy-to-let landlords who rented out their properties on long term tenancies. Higher rate mortgage in...

Capital Gains Tax (CGT) to be paid earlier on property disposals...

31st May | Posted in: Personal Tax, Properties

HMRC are consulting on the mechanism for collecting CGT on residential property disposals by UK residents from April 2020, when the tax will be due within 30 days of completion of the sale of the prop...

scottish budget

Scottish Budget 2018/19

22nd December | Posted in: Business Tax, Government Announcements, Personal Tax, Properties, Property Investment

Derek Mackay MSP, the Scottish Cabinet Secretary for Finance delivered the draft Scottish Budget for 2018/19 on 14 December 2017.   On 31 January 2018 he made a further announcement that, instead of...

Future trends for investing in property: Ownership and limited co...

11th August | Posted in: Pensions, Savings & Investments, Personal Tax, Properties, Property Investment, Regulations

In the final video of this series, we look at current trends for both landlords and tenants. We discuss the traditional five key areas in Edinburgh for landlords and also look at the new up and coming...

Buying investment property in 2017/18: What size of property?...

11th August | Posted in: Pensions, Savings & Investments, Properties, Property Investment, Regulations

Should you buy a larger number of smaller (cheaper) properties rather than fewer larger (more expensive) properties? Tenancy reform is also discussed as is the banks attitude to lending. Will the chan...

What are you waiting for? Get in touch and get professional assistance from Johnston Smillie today. Enquire Now