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.
Should I Incorporate to Avoid Section 24?
Many accountants suggest going the incorporation route to tackle Section 24, and it does come with its perks. But, hey, don't forget to watch out for the potential downsides too.
Transferring Your Property to Spouse as Solution to Section 24
To navigate Section 24, consider sharing ownership with your spouse, especially if they're in a lower tax bracket. It's a savvy move to ease potential tax impacts.
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...
