05 - October 2019The delayed start date for the domestic reverse VAT charge has given businesses an extra year to prepare for the charge. We explain what you can do to prepare.
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Domestic reverse VAT charge for building and construction services The domestic reverse VAT charge for building and construction services was due to come into effect from 1 October 2019. However, in early September it was announced that the start date had been put back one year. As a result, the charge will now apply from […]
03 - October 2019Property Business – What SIC code should I use for my property Company ?
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A SIC code stands for Standard Industrial Classification code, and classifies your business activity at Companies House. SIC code for a company can be changed at any time and be amended when you file your next Confirmation Statement. While forming a company to run your property business, you will be asked to provide SIC code […]
02 - October 2019If you’ve read anything about property and tax, you’ll probably have heard the terms ‘nominating your main residence’ and ‘flipping’. This blog takes you exactly what these terms mean and how and when they apply.
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Private residence relief shelters a gain on the sale of a residence from capital gains tax while the property has been the owner’s only or main residence. Where a property has been an only or main residence at some point, the final period of ownership (currently 18 months but reducing to nine months from 6 […]
09 - September 2019Today’s blog covers the serious curtailment to letting relief for landlords coming April 2020 – read more here.
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Curtailment of letting relief Landlords have been hit with a number of tax hikes in recent years, and this trend shows no signs of abating. From 6 April 2020, lettings relief – a valuable capital gains tax relief which is available where a property which has at some point been the owner’s only or main […]
06 - September 2019Do you have a second home? You might want to sell up before April 2020!
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Private residence relief and the final period exemption From a capital gains tax perspective, there are significant tax savings to be had if a property has been the owner’s only or main residence. The main gains are where the property has been the only or main residence throughout the whole period of ownership as private […]