Category Archives: Property

Tax Implications on Sales of Holiday Homes Overseas

Dreaming of an Overseas Holiday Home? Consider UK Tax Implications…   When summer fades into a distant memory and winter is on the horizon, many of us dream of the sand, sea, and sunshine an overseas holiday home can bring, without much thought to the UK tax implications of owning […]

Tax Changes for Furnished Holiday Let Property Owners

There are proposed changes to the tax rules relating to Furnished Holiday Let (FHL) accommodation.   For many years taxpayers who own holiday homes which are let out to the public on a commercial basis have benefitted from numerous tax reliefs, providing they meet the conditions of a “Furnished Holiday […]

How Long Do You Need To Keep Business Financial Records For?

Filing cabinet containing business records

How long do you need to keep business financial records? Ever wondered about the optimal duration to retain those crucial financial records? Well, according to HMRC regulations, businesses are advised to keep their financial records for a span of 6 years post the accounting year end. However, the importance of holding […]

Navigating the tax treatment of Furnished Holiday Lets

holiday let

Let’s delve into the fascinating realm of the UK tax treatment of Furnished Holiday Lets (FHLs). If you’ve ever dreamt of turning your cozy cottage or charming apartment into a holiday retreat, you’re in the right place. Here we will untangle the complexities of tax rules and discover how FHLs […]

Property Tax legislation

property tax

Over the last few years there have been numerous changes to tax legislation relating to residential properties. We thought it would be a good idea to have a quick reminder on the main areas you need to consider. Capital Gains Tax Reporting regime UK residents who sell their UK residential […]

Paying for care, how a local authority views deprivation of assets

Something that comes up, a lot! Many of us know of someone in care or needing care and, from our discussions, of course individuals don’t want to see family assets disappear to cover care fees. Conversely though, paying for your own care tends to come with choice.   There are […]

Managing time in your estate agency

Estate Agency

As the owner of an estate agency, your time is one of your most valuable assets. But running a business can feel like you’re constantly trying to beat the clock. When there never feels like enough time in the day, you lose the ability or motivation to do key business […]

Who wants to be a millionaire? Who needs to be a millionaire?

pension millionaire

Think back to the 80’s (if you can!) we had Wall Street, Harry Enfield’s Loadsamoney, Miami Vice, regular news items on city traders making a fortune.  At that time being a millionaire was out of reach for most people. Maybe a bit distasteful even. Since then, due to the success […]

Residential Finance Costs

rent finance

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 […]

VAT Reverse Charge for construction – overview

VAT reverse charge

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 […]