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.
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...
A Complete Guide on SDLT Group Relief Claim
What is Stamp Duty Land Tax, when does it apply and who should pay it? Learn about it all with this guide on SDLT.
Multiple Dwellings Relief – A Complete Guide
The Multiple Dwellings Relief (MDR) introduced in 2011 aims to reduce Stamp Duty Land Tax (SDLT) on purchases involving multiple residential properties. MDR applies when acquiring interests in more than one dwelling in a single or linked transaction, offering potential...
A Complete Guide to 3% SDLT Surcharge Refund Claim
Buying a new main residence before selling the old one incurs a 3% SDLT surcharge, refundable if sold within three years. Genuine intention and specific conditions must be met for the 3% SDLT refund, requiring thorough documentation. Examples cover scenarios...
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 Non-Resident CGT (NRCGT) Returns
Non-resident property sellers must file NRCGT returns within 60 days. UK Property Accountants simplifies compliance, covering historical changes, calculation rules, relief options, and temporary non-residence conditions. Understanding reporting obligations is crucial for efficient compliance.
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...
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