On Friday 19th June 2020, the government announced a planned extension to the Coronavirus Act measures to protect commercial tenants and a new code of practice for landlords and tenants. The expiry of the current restrictions (set out below) is to be extended from 30th June 2020 to 30th September 2020, giving business tenants further breathing space to negotiate with their landlord.

Although the Brexit process continues to throw a spanner into the normal workings of government, there are a few certainties from a tax point of view that will be effective from April 2020. A few property related changes are noted in this article:

If you rent out all or part of your home this may create a Capital Gains Tax (CGT) charge when you sell the property.

• 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. 

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.

It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.

It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.

The gradual restriction of tax relief for buy-to-let mortgage interest has received much publicity since the process commenced 5 April 2017. From that date, tax relief is converted from a straight forward deduction against business profits into a basic rate tax deduction.

The gradual restriction of tax relief for buy-to-let mortgage interest has received much publicity since the process commenced 5 April 2017. From that date, tax relief is converted from a straight forward deduction against business profits into a basic rate tax deduction.

A new report published by the Intermediary Mortgage Lenders Association (IMLA) has revealed that net investment in buy to let property has fallen from £25 billion in 2015 to just £5 billion in 2017 due to excessive regulatory intervention on the sector. 

A new report published by the Intermediary Mortgage Lenders Association (IMLA) has revealed that net investment in buy to let property has fallen from £25 billion in 2015 to just £5 billion in 2017 due to excessive regulatory intervention on the sector.