27 - July 2019A quick guide on how to manage costs and expenses as a work from home landlord
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Managing a rental business from home A landlord will often manage their property rental business from home, and in doing so will incur additional household expenses, such as additional electricity and gas, additional cleaning costs, etc. As with other expenses, the landlord can claim a deduction for these when working out the profits of the […]
25 - July 2019The letting of a jointly-owned property in itself does not give rise to a partnership, so what does?
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Property partnerships A person may own a property jointly that is let out as part of a partnership business. This may arise if the person is a partner of a trading or professional partnership which also lets out some of its land and buildings. A less common situation is where the person is in a […]
23 - July 2019Today’s blog covers taxing rental deposits – what’s the most you’ve spent repairing after a tenant has moved out?
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Rental deposits A landlord will usually take a deposit from a tenant when letting a property to cover the cost of any damage caused to the property by the tenant. Where a property is let on an assured shorthold tenancy, the tenants’ deposit must be placed in an official tenancy deposit scheme. The purpose of […]
26 - June 2019Do you own a holiday cottage? You could get favourable tax treatment.
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Furnished holiday lettings – is it worth qualifying? When it comes to taxing rental income, not all properties are equal. Different rules apply to properties which meet the definition of ‘furnished holiday lettings’ (FHLs). While the rules now are not as generous as they once were, they still offer a number of tax advantages over […]
22 - June 2019Make sure you take into account stamp duty if you’re looking to buy a commercial property.
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Stamp duty land tax on non-residential properties Stamp duty land tax (SDLT) is payable in England and Northern Ireland on the purchase of property over a certain price. It applies equally to residential and non-residential properties, although the rates are different. Stamp duty land tax is devolved with land and buildings transaction tax (LBTT) applying […]