A Complete Guide on Option to Tax
As we explained in our detailed property VAT guide, commercial property is exempt from VAT with exception of new commercial building (less than three years old). The property business can choose to convert the exempt property to taxable property by...
A Complete Guide to VAT Registration in the UK
Value Added Tax (VAT) is a tax levied on the value added to goods and services at each stage of production or distribution. In the United Kingdom, VAT is an essential aspect of doing business, and it’s crucial for property...
A Complete Guide on VAT Return
If you are a VAT registered business, you must prepare, and complete VAT returns quarterly or monthly. In addition, if your annual turnover is above £85,000, you will also need to comply with Making Tax Digital (MTD) which requires you...
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...
