Making Tax Digital for Landlords Start Date Set
Landlords must sign up to the government’s Making Tax Digital (MTD) scheme by April 2023. The MTD scheme will apply to all private landlords filing self-assessment returns for property income totalling more than £10,000 a year. The move is another step by HM...
How Stamp Duty Discounts Work For Landlords
Landlords across the country have gained a financial boost from cuts to tax on buying a home – unless the property is in Wales. How much they save depends on where they buy property as the tax rates and thresholds are different for England, Scotland, and Wales....
Chancellor Slashes Stamp Duty for Landlords
Chancellor Rishi Sunak has finally revealed his cuts to stamp duty for home buyers, but property investors still have to fork out more than anyone else. The policy change affects all home purchases in England and Northern Ireland between July 8, 2020 and March 31,...
Tax Man Chips in to Help Landlords Find Mortgages
This article applies to . Proving income is often a problem for landlords looking to buy a home to live in or rent, so for once the tax man is offering some help. HM Revenue & Customs has published a list of the 60 lenders who will accept printouts of tax forms as...
HMRC Online CGT Service for Landlords Goes Live
HM Revenue & Customs has switched on an online service for landlords who need to pay capital gains tax under new rules that came into force on April 6. Anyone who makes a profit selling a house in the UK which is not their main home after April 6, 2020 has 30 days...
Coronavirus Rescue Pay Packages Omit Directors Paid Dividends
Property company directors who top up their salaries with dividends do not qualify for government coronavirus financial support packages. HM Revenue & Customs chief Jim Barra has confirmed dividends are excluded from calculating income under the Job Retention...
Budget 2020 – Finally Some Respite for Landlords
Budget 2020 is over and landlords can relax after Chancellor Rishi Sunak made just a single tweak to property taxes. And that only impacts living overseas buying homes in England. Sunak announced a new banding for Stamp Duty Land Tax for non-residents buying a home...
CGT Rules Set to Change for Buy to Let Landlords
Landlords face yet another tax change from April 6, 2020 as capital gains tax rules for selling a home are overhauled. The timescale for reporting the sale and paying any tax due shrinks to just 30 days from completion. Landlords missing the deadline will face...
HMRC’s Landlord Seven-Year Tax Probe Is a Flop
The tax man has recovered millions of pounds of lost tax from landlords – but expected returns from the seven-year probe are falling far short of expectations. The Let Property Campaign started in 2013 and was set up to tackle assumed tax avoidance by landlords....
Property Companies Delaying Tax Filings Should Expect Harsh Penalties
A property development company had no excuse to miss corporation tax filing and payment deadlines that left them to pay thousands of pounds in fines and interest, a judge at a tax tribunal ruled. Director Mrs Pragya Singh of Caris Properties Limited told the...
Don’t Miss Out on a Once in a Lifetime Tax Saving Chance
Landlords are a money conscious group always looking to minimise the amount of tax they pay – but along with one in four aged 55 or over, they have missed the obvious tax saver, according to wealth managers. Making a will is inexpensive and lays the foundation...
Chance for Landlords to Have a Say About Tax
Landlords with gripes about the way tax changes are implicating their letting businesses can vent their fury on the government through an official survey. The Office of Tax Simplification has put a call to residential landlords who file annual self-assessment returns....
Timing Can Make All the Difference in Saving Tax
Timing can make a big financial difference with tax hacks – and one in five landlords could find this out the hard way. New data shows around 19% of landlords are seeking to remortgage existing buy to let homes through a limited company. The aim is to cut...
New Buy to Let Data Charts the Rise of Company Landlords
The number of homes rented out by corporate landlords has soured since the government announced scrapping mortgage interest relief for private landlords. The new tax rules phased over recent years allow companies to claim mortgage interest relief as a property...Coronavirus Guidance
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