Qualifying Expenditure for Structure and Building Allowance
UK businesses can benefit from the Structure and Building Allowance (SBA), allowing a 3% annual claim on a commercial building's cost for 33 years, starting from construction after October 29, 2018. Eligibility requires non-residential initial use, covering construction and acquisition...
UK Government Contemplates Inheritance Tax Reform
The UK government is deliberating a potential reduction in the inheritance tax (IHT) before the upcoming general election, despite expectations of generating approximately £7.2 billion in revenue during the fiscal year 2023/24. This prospective policy adjustment is just one of...
VAT and Property: Dispelling Myths and Avoiding Common Mistakes
The article dispels myths and avoids common mistakes related to VAT and property, such as its applicability, re-claimability, and option to tax.
Four Benefits of Selling Shares in Your Buy-to-Let Property Company
Unlock the perks of selling shares in your buy-to-let property firm—maximize profits and flexibility in your investment strategy.
Bank of England Leaves Interest Rate at 5.25%
The Bank of England has maintained the interest rate at 5.25%, citing minimal inflation drop and the need for restrictive monetary policy. Experts warn of potential harm to economic growth and the challenges for high-debt companies.
Lettings Relief: A Guide to Reduce CGT Bill to HMRC
UK Lettings Relief underwent changes in April 2020, now applicable only when the property owner resides with the tenant. The relief, capped at £40,000, is calculated based on the lowest of three options, reshaping the tax landscape. Homeowners are advised...
Buy-to-Let Landlords Incorporate in Response to Market Challenges
Learn how the tax environment and market conditions have become less favourable for buy-to-let landlords in the UK, and how some of them have opted to incorporate their properties into limited companies to improve their tax efficiency.
Sole Trader vs Partnership: Choosing the Right Business Structure in the UK
Choosing between a sole trader and a partnership is crucial for a new business in the UK. Sole traders maintain full control but face unlimited liability, while partnerships offer shared ownership and varied skills but involve complex setups and potential...
Buyer Loses £12k Stamp Duty Refund Appeal for Derelict Bungalow
Simon, a recent UK resident, faced a setback in his £12,350 stamp duty refund appeal for a bungalow his company purchased for renovation. Despite structural issues, the tribunal ruled the property was suitable for dwelling, citing the case of PN...
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