Many investment properties are acquired through a limited company for a variety of reasons.
 
Complications arise when this structure is no longer appropriate, for example, there may be a desire to gift to a child, and extracting a property from a company back into private beneficial ownership can be a costly affair. Tax costs arise both for the company disposing of the property and for the purchasing connected party.

From April 2023, second homeowners will be required to provide proof that their property is an operating holiday let to qualify for small business rates relief.
 

In a move hailed as a 'victory for common sense', the government has announced a 12-month delay to the introduction of the domestic reverse charge VAT for construction services, citing industry concerns and Brexit as the reasons behind the postponement.

HMRC has a new £100m weapon to help identify individuals who may not be declaring all of their income and, therefore, paying too little tax.  

Have you checked your personal tax account recently? If at all? 

Latest research from the Post Office shows that 46% of UK workers have never checked their personal tax account.
 

• You can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts of business assets and relief for loans to traders),

The 2019/20 tax year started on the 6th April and contains a number of changes which buy-to-let landlords should be aware of for the year ahead. 

Typically, those who are older and have applied for a buy-to-let mortgage have faced barriers due to the limited options available to them. 

The expenses you claim against your property income will need to follow the usual HMRC ruling that the costs must be incurred wholly and exclusively for the purpose of renting out the property.

From 1st October 2019 a VAT reverse charge will apply in the UK to supplies of construction services, this will mean that around 300,000 construction businesses will be required to change their accounting systems. 
 

HMRC recently published a list of helpful reminders regarding the submission of monthly returns to HMRC. This article lists some of the points highlighted.
 

HMRC recently published a list of helpful reminders regarding the submission of monthly returns to HMRC. This article lists some of the points highlighted.
 

Commercial property firms are being urged to ensure their capital allowance provisions are in order after a tribunal sparked a debate over claims.

Today marked the first Autumn Budget in 20 years and some may say that it was the ‘most important’ of Philip Hammond’s tenure as the Chancellor. It followed in similar suit of the last Budget, with a substantial focus on the UK property market and the governments bid to tackle the need for affordable housing.
 

Today marked the first Autumn Budget in 20 years and some may say that it was the ‘most important’ of Philip Hammond’s tenure as the Chancellor. It followed in similar suit of the last Budget, with a substantial focus on the UK property market and the governments bid to tackle the need for affordable housing.