A Complete Guide on SDLT Returns
SDLT is mandatory for land or building acquisitions in England and Northern Ireland, requiring a return to HMRC within 14 days. Exemptions include transactions with nil consideration, certain spousal transfers, and specific leases. Late filing incurs penalties, escalating up to...
A Complete Guide on CGT Return (60-days)
From 6 April 2020, the government brought new rules on reporting and paying the Capital Gains Tax (CGT). Under this new regime, you have to report and pay the capital gains tax on UK residential property within 60 days after...
Self-Assessment Tax Return
If a UK resident person gets rental income (either from UK Property or Overseas property) or capital gains from selling the properties, the landlord needs to prepare and file a Self-Assessment Tax return with HMRC, usually referred to as Self-Assessment...
A Complete Guide on Non-Resident Company Tax Return
Non-resident company landlords transitioned to the UK corporation tax regime from April 6, 2020, with accounting periods aligning with financial statements. The tax rate is 19%, rising to 25% from April 1, 2023. Filing the Corporation Tax Return (CT600) within...
Capital Gains Tax – A Complete Guide
Managing capital gains tax is vital for UK property owners, including second homes and buy-to-let properties. Rates depend on factors like asset type and income, with exemptions available. Non-UK residents selling UK property face the NRCGT regime, requiring timely reporting...
Inheritance Tax in UK – A Complete Guide
Inheritance tax, a substantial 40% levy on estate transfers after death, poses financial challenges for beneficiaries. UK residents face it globally, non-residents on UK properties. Strategic planning with gifts, property transfers, and business reliefs can ease the burden, emphasizing the...
Corporation Tax in UK – A Complete Guide
Corporation tax at 19% applies to all UK limited companies, including those in property. The rate increases to 25% for profits exceeding £250,000 from April 2023. Companies must register with HMRC, file a CT600 return within 12 months of their...
VAT on Property Explained: A Complete Guide
As a property Investor, knowing about VAT is essential to ensure you don't face any problems with the taxman. Learn about VAT with this article.
A Complete Guide on Stamp Duty Land Tax
SDLT is a self-assessed tax on land transactions in England and Northern Ireland, based on chargeable consideration.
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