by yasiradnan94 | Dec 1, 2022 | Property, Tax Planning
When buying a residential property in England or Northern Ireland you must pay stamp duty land tax (SDLT) if the purchase price exceeds a minimum threshold set at £125,000 since 2006. In September’s mini-Budget the then Chancellor announced that the entry...
by yasiradnan94 | Nov 28, 2022 | Accounting, Advice, Property, Tax Planning
Capital gains made by individuals are generally taxed at lower rates to income and taxpayers benefit from a separate annual exemption that covers the first £12,300 of gains made per year. This exemption will be reduced to £6,000 for the tax year 2023-24 and then to...
by yasiradnan94 | Sep 30, 2022 | Property, Tax Planning
In 2020 HMRC introduced a new system for paying capital gains tax (CGT) due from selling residential property in the UK, but many solicitors and estate agents are still unaware of the new requirements. You need to report to HMRC your gain from selling a home on: · the...
by yasiradnan94 | Jun 16, 2022 | Advice, Landlords, Property, Tax Planning
Ukrainian refugees are being hosted by private individuals and organisations in spare rooms and properties across the UK. The Government is providing hosts with a monthly payment of £350 per property, administered by local authorities. This payment is only given to...
by yasiradnan94 | Apr 4, 2022 | Advice, Property
When an individual dies everything they own is valued to calculate the inheritance tax (IHT) due on their estate. These assets include the deceased’s main home and any let properties they may own. All of the assets must be valued based on a deemed transfer at...
