Let Property Campaign Penalties: What You Need to Know
Learn about the penalties that you can face as a landlord for failing to comply with the Let Property Campaign.
Claim Mileage Allowance Relief: HMRC Business Mileage Rates
This article outlines the HMRC-approved mileage allowance rates for business-related travel in the UK for the tax year 2022/23 and provides guidance on calculating Mileage Allowance Relief and making claims through a Self-Assessment tax return.
What is More Tax Efficient – Pay Myself a Salary or Dividends
This article discusses the decision-making process for directors in choosing between salary and dividends, considering factors like tax efficiency and individual circumstances.
Benefits of Incorporated Partnership for Landlords
In this article, we explore the advantages of transferring a property business from a partnership to a limited company in the UK. The benefits include reduced income tax, Stamp Duty Land Tax savings, lower Capital Gains Tax rates, enhanced interest...
A Complete Guide to Non Resident Landlord Scheme
In this article, we discuss the Non-Resident Landlord Scheme (NRLS), a system where tenants or letting agents deduct tax from the rental income of non-UK residents.
A Complete Guide to Let Property Campaign
This guide covers the Let Property Campaign (LPC), explaining its purpose, eligibility, and the disclosure process for landlords with undeclared rental income, along with examples of HMRC letters and potential penalties.
Do Landlords Qualify for The Home Office Tax Deduction?
This article discusses the opportunity for landlords managing a property business from home to claim a portion of running costs as a business expense. It explores methods such as AREA, TIME, or USAGE, and highlights the availability of simplified rates...
Tax on Airbnb Income
The article outlines UK tax considerations for Airbnb hosts, covering the Rent-a-Room scheme, Capital Gains Tax reliefs, VAT implications, recent changes for serviced accommodation businesses, and HMRC's campaign targeting undeclared income.
A Guide on Interest Relief Restriction Section 24 on Landlords
This article delves into the 2015 Summer Budget's impact, specifically Section 24 of Finance Act 2015, outlining proposals to limit tax relief for landlords on interest and finance costs, potentially affecting millions of individual landlords across the UK, despite a...
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