by yasiradnan94 | Oct 30, 2019 | Accounting, Advice, FAQs, Financial planning, Landlords, Property
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? What is a FHL? This is a type of rental property classification that results in...
by yasiradnan94 | Sep 17, 2019 | Accounting, Advice, Business, Landlords, Property, Tax planning
An important distinction must be made between two different types of expenditure; capital and revenue. Capital expenditure can be thought of as any expenditure which significantly enhances the value of the asset in question, in this case the property. Revenue...
by yasiradnan94 | Sep 9, 2019 | Accounting, Advice, FAQs, Financial planning, Landlords, News, Property, Small Businesses, Tax planning
Many people assume that selling your main home automatically exempt from any capital gains tax. In some cases, this isn’t the case and getting this wrong can be very expensive. The law requires more than simply owning the home and occupying it. It requires actual...
by yasiradnan94 | Aug 18, 2019 | Accounting, Advice, FAQs, Landlords, News, Property, Tax planning
Read this post to find out the details on reliefs that are available to homeowners to minimise your tax bill on sale of your property. An individual’s main home is exempt from capital gains tax (CGT) on any profit (sale price being greater than purchase price) made on...
by yasiradnan94 | Jul 13, 2019 | Accounting, Advice, FAQs, Landlords, News, Property, Tax planning, VAT
Some transfers of value are exempt from IHT and this article aims to highlight these. Read on to find out more. No tax is particularly liked by the taxpayer but it is fair to say IHT is amongst the most hated. Certain transfers of value are however exempt from IHT,...
by yasiradnan94 | Jun 19, 2019 | Accounting, Advice, Landlords, Property, Tax planning
Read on to find out how you can reduce the amount of inheritance tax you are charged. Inheritance tax is charged at 40% on the value of the deceased estate which exceeds the threshold, currently £325,000. If the deceased left his/her home to children or grandchildren...