Tax implications of Homes for Ukraine
Ukrainian refugees are being hosted by private individuals and organisations in spare rooms and properties across the UK.
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NRLS Scheme – Agents
The ‘Non-Resident Landlord Scheme’ (NRLS) requires persons who act as ‘representatives’ (agents) for the landlord to deduct basic rate tax from the net rent collected (rental income less expenses paid) unless the agent or tenant has authority from HMRC to pay the landlord gross.
Non-Resident Landlord Scheme
The ‘Non-Resident Landlord Scheme’ (NRLS) is a scheme for taxing the UK rental income of non-resident landlords. Under the scheme basic rate tax (20%) is deducted from the net rent collected by an agent (less expenses paid). There is an exception to this where an agent/tenant has authority from HMRC to pay the landlord gross.
Landlords! When does the cash basis apply?
Read this blog post to find out more information on when cash basis applies.
COVID-19 Relief for landlords?
The government has launched various different support measures across different sectors to help fight the pandemic financially to those who need it most. It is our view that more can still be done but that is a separate conversation.
Tick Tock – Help to Buy ISAs
Find out how opening a Help-to-Buy ISA before 30th November 2019 can help you if you are looking to get on the property ladder.
Deferring CGT
Capital Gains Tax (CGT) is a tax applicable where you sell an asset for more than it cost you. Read on to find out more.
Furnished Holiday Lets
As landlords you may often have heard of certain advantageous tax treatment of a furnished holiday let (FHL). What is a furnished holiday let and how can you potentially benefit?