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Archive for the "Property Investment" Category

Scottish Budget 2019/20

20th December | Posted in: Business Tax, Company News, Government Announcements, Personal Tax, Property Investment

Derek Mackay MSP, the Scottish Cabinet Secretary for Finance delivered his draft Scottish Budget for 2019/20 0n 12 December 2018.  The main budget proposals are  as follows:- Personal Tax There are ...

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...

Do you have any undisclosed Offshore tax liabilities?

31st August | Posted in: Government Announcements, Pensions, Savings & Investments, Personal Tax, Property Investment, Regulations

HMRC’s Requirement to Correct (RTC) deadline of 30 September 2018 is looming. If you have any undisclosed offshore tax liabilities, which arose on or before 5 April 2017, you must notify HMRC about ...

CGT

CGT on property sales due within 30 days from 2020

28th August | Posted in: Personal Tax, Planning, Property Investment, Regulations

Draft legislation in the next Finance Bill will introduce significant changes to the reporting of residential property disposals and the payment of CGT from 6 April 2020. Currently non-UK resident tax...

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 ...

newsletter

Our Summer E-Newsletter

7th August | Posted in: Business Tax, Charity, Professional Services, Property Investment, Regulations, VAT

Welcome to our latest E-Newsletter which we hope you enjoy reading. As well as keeping up to date with the latest news, our staff have continued to help raise money for our chosen Charity this year, ...

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...

Taking a lodger? Don’t forget to claim “Rent a Room&...

29th May | Posted in: Allowances, Property Investment, Regulations

HMRC are carrying out a review of rent a room relief to discover whether the scheme, introduced back in 1992 provides the right incentives for the rental market. The current scheme exempts from tax, g...

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