Back in July 2015 the then Chancellor, George Osborne, announced a change to the way that tax relief for finance charges, in particular loan and mortgage interest, would be given against residential property rents. Rather than reducing the net profit of the residential property business, any tax due would be […]
Big changes are coming to the way in which VAT is administered to the construction industry. From 1 March 2021 the CIS VAT Domestic Reverse Charge Measure will apply to supplies of construction work. Proposals: When the reverse charge applies the customer must account for the supplier’s output VAT This […]
For tax professionals, the idea of escaping to some Spanish sun in January is a pipe dream, even in non-Covid times, as we grapple with the personal tax return submission deadline. And with Spain on the brain, we are advising clients to be aware of changes to EU tax […]
Have you recently sold a residential property in the UK? If so, it is important you understand new tax rules, which might mean you need to report and pay Capital Gains Tax within 30 days. Over recent weeks COVID-19 has dominated the headlines and any new tax developments have […]
Our tax director Martin Wardle gives his summary of the official guidance that has been released for landlords and tenants as well as a local spin on current matters as a result of Covid-19 from Bruce Haagensen of North East Landlords on it’s effects on licensing and students. Watch our YouTube video […]
As always we endeavour to keep you updated with the latest Government announcements on COVID-19 and how this effects you and your business. The document below lists the properties which will qualify for the 100% relief from Business Rates for 2020/21. Businesses in these sectors will also qualify for the £25,000 grant […]
There were a few major shocks for landlords in the budget yesterday. An initial summary is below but further details will feature at our Property Conference. Book your tickets here for FREE. Perhaps the biggest was that landlords who are higher-rate taxpayers or additional rate taxpayers will no longer be […]
Most of the people we see are either in our own offices or in their own premises but there are a lot of ways you can catch up with people from Robson Laidler! First of all you can meet some of our team at our first North East Business Forum […]
As you may know, HMRC launched a let property campaign (LPC), earlier this year, to encourage buy-to-let landlords to disclose undeclared rental income. We understand that HMRC has now started to send letters to some 30,000 individual property owners where HMRC hold evidence suggesting those property owners have undeclared rental income. In terms of the […]
As we have previously mentioned, HMRC are looking for landlords who have not declared their rental income. We now have an idea on how some of those landlords may be found by HMRC. HMRC is writing to letting agents in the UK, asking them to provide lists of the rents they have collected on […]
